| Wed 30 Nov 2011, 16:49 | | BGREEN - BettaBeta CIS - Announcement regarding the listing of the |
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JSE
BBET
BGREEN - BettaBeta CIS - Announcement regarding the listing of the
BettaBeta CIS BGreen Portfolio
BettaBeta CIS
("Be Green")
(a portfolio under the BettaBeta Collective Investment Scheme ("BettaBeta
CIS") registered in terms of the Collective Investment Schemes Control Act,
45 of 2002 ("CISCA"))
Share Code: BGREEN
Abbreviated Name: Be Green
ISIN: ZAE000162277
ANNOUNCEMENT REGARDING THE LISTING OF THE BETTABETA CIS BGREEN PORTFOLIO
1. Introduction
The JSE Limited ("JSE") has approved the listing of Be Green
participatory interests on the "Exchange Traded Funds" sector of the
JSE lists with effect from commencement of business on Thursday, 1
December 2011.
The information below has been extracted from the BettaBeta CIS BGreen
portfolio supplement ("the portfolio supplement") and relates to:
1.1 the private placing of 7 433 011 participatory interests in the
Be Green portfolio with Nedbank Capital ("the private placing");
and
1.2 the subsequent listing of the participatory interests on the JSE.
2. Background
Sustainability, and in particular environmental sustainability, has
been a core business principle of the Nedbank Group Limited ("Nedbank
Group") for a long period of time and it continues to be a strategic
focus for the group. This is demonstrated by Nedbank Group`s own
carbon neutrality and its facilitation of carbon neutrality for its
clients. As part of Nedbank Group`s strategy around sustainability and
providing environmentally sustainable investment products to its
clients, Nedbank Group has launched the Nedbank Green Index and is
launching the Be Green ETF through its subsidiary, Nedgroup Beta
Solutions (Proprietary) Limited ("Nedgroup Beta Solutions"). To
facilitate this ETF, Nedbank Capital will seed the Be Green portfolio
with R100 million.
The primary investment objective of the Be Green portfolio is to track
the performance of the Nedbank Green Index in order to gain exposure
to the top-performing companies in terms of environmental credentials.
Due to the dramatic climatic changes projected for the physical
environment, along with the concurrent changes in tax and regulation,
there are strong reasons, both ethical and financial, why investors
may prefer exposure to companies with strong environmental
credentials.
The Nedbank Green Index is a customised, proprietary index that
consists of a filtered set of stocks chosen from a universe of the top
100 stocks listed on the JSE main board as measured by market
capitalisation.
The Nedbank Green Index is a rules-based index where constituent
selection and their weights are determined by environmental
credentials and liquidity criteria. The Nedbank Green Index has been
created to capture the performance of "green" South African companies.
3. Private Placing
In terms of the private placing, 7 433 011 Be Green participatory
interests were placed with Nedbank Capital at a price of R13.44 per
participatory interest.
The price of each participatory interest is the average price at which
baskets of the constituent securities were traded on Friday, 25
November 2011.
The price per participatory interest will therefore equate to
approximately the average index level and will be determined on the
basis that the price for each participatory interest will be inclusive
of any taxes, costs, or fees payable in respect thereof.
The portfolio supplement should be consulted for full details of the
Be Green portfolio.
4. Subscriptions
Subsequent to the listing date, prospective investors shall be able to
acquire participatory interests in the following ways:
4.1 in specie subscriptions; and
4.2 cash subscriptions.
Prospective investors should contact their Central Securities
Depository Participant or JSE broker, should they wish to subscribe
for Be Green participatory interests.
5. Calculation of the index
Nedbank Capital has appointed RisCura Solutions (Proprietary) Limited
("RisCura") to calculate the Nedbank Green Index.
The Be Green participatory interests are not in any way sponsored,
endorsed, sold or promoted by Nedbank Capital or RisCura and none of
these parties make any warranty or representation whatsoever,
expressly or impliedly, either as to the basis of calculation of, or
as to the results to be obtained from the use of the index and/or
value at which the said index stands at any particular time on any
particular day or otherwise. The index is compiled and calculated on
behalf of and on the instructions of the Nedgroup Beta Solutions by
RisCura.
6. Portfolio supplement
Copies of the portfolio supplement can be obtained from the offices of
Nedgroup Beta Solutions, 6th Floor, F Block, Nedbank Sandton, 135
Rivonia Road, Sandown during normal office hours, or on the BettaBeta
website: www.BettaBeta.co.za, from 30 November 2011.
Johannesburg
30 November 2011
Investment bank and Sponsor
Nedbank Capital
Date: 30/11/2011 16:49:01 Produced by the JSE SENS Department.
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