| Mon 11 May 2009, 9:45 | | RAFFIN - NewFunds eRAFI(TM) SA Financial 15 Index ETF - Initial offer for |
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JSE
NFS
RAFFIN - NewFunds eRAFI(TM) SA Financial 15 Index ETF - Initial offer for
Newfunds Erafi(TM) SA financial 15 index ETF portfolio participatory interests
to be listed on the JSE Limited
NewFunds eRAFI(TM) SA Financial 15 Index ETF
Share code: RAFFIN ISIN: ZAE000134979
A portfolio in the NewFunds Collective Investment Scheme ("NewFunds") registered
as such in terms of the Collective Investment Schemes Control Act, 45 of 2002,
managed by NewFunds (Proprietary) Limited (the "manager")
INITIAL OFFER FOR NEWFUNDS eRAFI(TM) SA FINANCIAL 15 INDEX ETF PORTFOLIO
PARTICIPATORY INTERESTS ("eRAFI(TM) FINANCIAL 15 ETF SECURITIES") REFERENCING
THE PLEXUS ABSA CAPITAL eRAFI(TM) SA FINANCIAL 15 INDEX ("eRAFI(TM) FINANCIAL 15
INDEX"), TO BE LISTED ON THE MAIN BOARD OF THE JSE LIMITED ("JSE") IN THE
"EXCHANGE TRADED FUNDS" SECTOR
This announcement is issued in compliance with the Listings Requirements of the
JSE for information purposes only. The information set out below has been
extracted from an offering circular and pre-listing statement issued on 3
September 2008 (the "offering circular"), together with the eRAFI(TM) SA
Financial 15 Index ETF Portfolio supplement (the "supplement") issued on Monday,
11 May 2009, which is available as set out below.
1. INTRODUCTION
NewFunds is a collective investment scheme in securities, currently
comprising the NewFunds NewSA Index, NewFunds eRAFI(TM) Overall SA Index
ETF and the NewFunds Shariah Top 40 Index ETF portfolios. Securities in the
new eRAFI(TM) SA Financial 15 Index ETF Portfolio will track the price and
yield performance of the Plexus Absa Capital eRAFI(TM) SA Financial 15
Index, thereby giving investors exposure to the 15 companies with the
largest fundamental value selected from a universe of the financial sector
companies that fall within the top 100 companies listed on the JSE as
measured by market capitalisation, including those shares with dual
listings and regardless of where they are incorporated, but specifically
excluding all inward listed securities.
Investors will be entitled to subscribe for participatory interests in
terms of the initial offer:
- in cash, in Rands, the proceeds from the issue of every 1 million
eRAFI(TM) Financial 15 ETF securities being utilised to acquire one
basket of the securities comprising the eRAFI(TM) Financial 15 Index
("constituent shares"); or
- in specie, by the delivery of one or more whole baskets of the
constituent shares ("baskets of constituent shares") entitling the
investor to 1 million eRAFI(TM) Financial ETF securities per basket of
constituent shares delivered.
eRAFI(TM) Financial 15 ETF Securities will be issued in dematerialised form
only on the terms and subject to the conditions more fully described in the
circular, the value of each of which will approximately equal 1/1000th of
the eRAFI(TM) Financial 15 Index level at the time of issue.
Following the listing, securities holders may either trade their securities
on the JSE, redeem them for cash or, in respect of every 1 million
eRAFI(TM) Financial 15 ETF securities redeemed, redeem them for one basket
of constituent shares.
2. SALIENT DATES AND TIMES AND FURTHER ANNOUNCEMENT
The initial offer will remain open from 09:00 on Monday, 11 May 2009 until
12:00 on Thursday, 4 June 2009.
LAs will be issued in the name of successful applicants on Friday, 5 June
and will convert to eRAFI(TM) Financial 15 ETF securities at commencement
of trading on Monday, 15 June 2009.
A further announcement containing the results of the initial offer
including the issue price will be published on SENS on Wednesday, 10 June
2009.
3. NOTICE
NewFunds (Proprietary) Limited has been granted permission to use the name
"Plexus Absa Capital eRAFI(TM) SA Financial 15 Index".
eRAFI(TM) Financial 15 securities are not in any way sponsored, endorsed,
sold or promoted by Research Affiliates(R), LLC ("Research Affiliates(R)")
and Research Affiliates(R) makes no warranty or representation whatsoever,
expressly or implied, either as to the basis of calculation of, or as to
the results to be obtained from the use of the eRAFI(TM) Financial 15 Index
and/or the value at which the eRAFI(TM) Financial 15 Index stands at any
particular time on any particular day or otherwise. The eRAFI(TM) Financial
15 Index is compiled by Research Affiliates(R), licensed to Plexus, Absa
and the Manager and jointly calculated by RisCura. However, neither
Research Affiliates(R), RisCura, the Manager, Plexus nor Absa shall be
liable (whether in negligence or otherwise) to any person for any error in
the eRAFI(TM) Financial 15 Index and shall not be under any obligation to
advise any person of any error therein.
"eRAFI(TM)" is a trademark of Research Affiliates(R) and is used by Plexus,
Absa and NewFunds under license.
The securities being issued are not eligible for sale in the United States
or in any other jurisdiction in which trading in the securities would be
illegal. The securities have not been, and will not be, registered under
the U.S. Securities Act of 1933, as amended, and trading in securities has
not been approved by the U.S. Commodity Futures Trading Commission under
the U.S. Commodity Exchange Act. The securities may not be offered, sold or
delivered within the United States or to U.S. persons, nor may any U.S.
person at any time trade or maintain a position in the securities.
4. DIRECTORS, TRUSTEE AND REGISTERED OFFICE
The directors of the manager, all of whom are non-executive, are:
Director : Ethan Gilbert Dube (Nonexecutive)
Address : Vunani House, Freestone Park, 135 Patricia Road
Sandown, Sandton, 2196
Director : Butana Mangaliso Khoza (Nonexecutive)
Address : Vunani House, Freestone Park, 135 Patricia Road
Sandown, Sandton, 2196
Director : Alan Jonathan Miller (Nonexecutive)
Address : 180 Commissioner Street, Johannesburg, 2001
Director : Andries Benjamin le Grange (Nonexecutive)
Address : 180 Commissioner Street, Johannesburg, 2001
The trustee of the portfolio , The Standard Bank of South Africa Limited,
is located at 9th Floor, Standard Bank Centre, 5 Simmonds Street,
Johannesburg.
The registered office of the Manager is located at 3rd Floor, Absa Towers
East, 170 Main Street, Johannesburg, 2001.
5. COPIES OF THE SUPPLEMENT AND THE CIRCULAR
Copies of the supplement, in English, may be obtained during normal
business hours from the registered office as detailed above, from Monday,
11 May 2009 until 4 June 2009. A copy of the circular and the supplement
will be available on the NewFunds website (www.newfunds.co.za) during the
same period.
6. SUBSCRIPTION CONDITIONS APPLICABLE TO THE INITIAL OFFER
The initial offer is subject to the conditions detailed in the circular as
read with the supplement and as summarised below:
- You cannot withdraw an application once submitted. It will be
irrevocable.
- All subscriptions for new eRAFI(TM) Financial 15 ETF securities will
be treated as primary market acquisitions. No application forms are
required.
- All subscribers for new eRAFI(TM) Financial 15 ETF securities must
have a valid account with a broking member of the JSE.
- Subscribers that do not have an account with a JSE member can open an
account with any broker on the JSE. A list of brokers is available on
the JSE website at www.jse.co.za.
- Subscribers can also contact Vunani Securities (Proprietary) Limited
(`Vunani Securities") and Absa Stockbrokers (Proprietary) Limited, who
have been appointed as joint participating brokers to assist first
time retail clients in opening an account. Further information can be
obtained from Vunani Securities (www.vunanisecurities.co.za) or on
(011) 263 9528 and Absa Stockbrokers (www.absastockbrokers.co.za or on
(011) 647 0830).
- If a prospective investor is in any way unclear as to the correct
procedure to be followed, or the terms and conditions applicable to
subscriptions for eRAFI(TM) Financial 15 ETF securities under the
initial offer, the investor is advised to contact his professional
advisors, alternatively to contact NewFunds directly on (011) 895
5517.
- A controlled client should liaise with his broker, which will
subscribe via its nominated CSDP.
- A non-controlled client should liaise with its nominated CSDP, which
will in turn liaise with the issuer CSDP.
11 May 2009
Manager
NewFunds (Proprietary) Limited
Corporate advisor, legal advisor and sponsor
Java Capital (Proprietary) Limited
Co-originator
Absa Bank Limited
Co-originator
Plexus Asset Management (Proprietary) Limited
Date: 11/05/2009 09:45:02 Produced by the JSE SENS Department.
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