| Thu 12 Jan 2012, 7:41 | | NFILBI - NEWFUNDS ILBI ETF - Initial Offer for NewFunds ILBI ETF Participatory |
|
JSE
NFS
NFILBI - NEWFUNDS ILBI ETF - Initial Offer for NewFunds ILBI ETF Participatory
Interests ("NewFunds securities")
NEWFUNDS ILBI ETF
ABBREVIATED NAME: NEWFNILBI
SHARE CODE: NFILBI
ISIN: ZAE000162244
A portfolio in the NewFunds Collective Investment Scheme in Securities
("NewFunds") (established on 21 December 2011 in the Republic of South Africa in
terms of the Collective Investment Schemes Control Act, 45 of 2002)) (the
"portfolio"), managed by NewFunds (Proprietary) Limited
INITIAL OFFER FOR NEWFUNDS ILBI ETF PARTICIPATORY INTERESTS ("NEWFUNDS
SECURITIES") REFERENCING THE TOTAL RETURN VERSION OF THE BARCLAYS CAPITAL/ABSA
CAPITAL SOUTH AFRICAN GOVERNMENT INFLATION-LINKED BOND INDEX ("ILBI INDEX"), TO
BE LISTED, SUBJECT TO JSE LIMITED ("JSE") APPROVAL, ON THE MAIN BOARD OF THE JSE
IN THE "EXCHANGE TRADED FUNDS" SUB-SECTOR OF THE EXCHANGE TRADED PRODUCTS SECTOR
This announcement is issued in compliance with section 19.60 of the JSE Listings
Requirements for information purposes only. The information set out below has
been extracted from the NewFunds Offering Circular (dated 3 September 2007),
together with the Applicable Portfolio Supplement, to be issued on 12 January
2012 (the "APS")(collectively, the "circulars"), which are available as set out
below.
1. INTRODUCTION
NewFunds is a collective investment scheme in securities. The securities in the
NewFunds ILBI ETF will track the price and yield performance of the ILBI Index,
a total return index tracking the performance of bonds issued by the South
African Government which are linked to the Consumer Price Index. This will be
achieved by:
- the issue in ZAR of NewFunds securities in dematerialised form on the
terms and subject to the conditions set out in the circulars, the
value of each of which will be approximately equal to one-tenth of the
ILBI Index level during the ramp-up period; and
- utilising the cash proceeds from the Initial Offer to acquire the
Constituent Securities (as such term is defined in the APS), which
once acquired will be held by the trustee, The Standard Bank of South
Africa Limited, provided that if cash subscriptions are insufficient
to enable the purchase of one or more entire baskets of Constituent
Securities, the balance of the money paid on application will be
returned, subject to the terms set out in the APS;
- permitting in specie subscriptions by the delivery of a full basket of
Constituent Securities per Block (comprising 1 million NewFunds
securities);
- allowing the holders of NewFunds securities, post listing on the JSE,
to either trade them through the JSE on the secondary market or redeem
them in entire blocks;
- effecting notional monthly distributions of all income derived from
the Constituent Securities to holders of NewFunds securities and
thereafter reinvesting all such income on securities holders` behalf
into the portfolio by the purchase of additional Constituent
Securities , in line with the ILBI Index methodology.
2. SALIENT DATES AND TIMES AND FURTHER ANNOUNCEMENT
The Initial Offer will be open from 09:00 until 12:00 on Thursday, 12 January
2012.
Letters of Allotment (ZAU000012130) will be issued to successful applicants on
Friday, 13 January 2012 and will convert to NewFunds securities, which will,
subject to JSE approval, be listed on the JSE from commencement of trading on
Thursday, 26 January 2012.
A further announcement containing the results of the Initial Offer, including
the offer price per NewFunds security, will be published on SENS on Wednesday,
18 January 2012.
3. NOTICE
The ILBI Index is a trademark of Barclays Bank Plc ("Barclays") and is used by
the NewFunds ILBI ETF under licence. Barclays compiles, maintains and owns
rights in and to the ILBI Index. ILBI Participatory Interests are not sponsored,
endorsed, sold or promoted by Barclays and Barclays makes no representation
regarding the advisability of investment in ILBI Participatory Interests or the
use of the ILBI Index or anydata included therein.
Barclays Capital is the investment banking division of Barclays. With a
distinctive business model, Barclays Capital provides corporates, financial
institutions, governments and supranational organisations with solutions to
their financing and risk management needs.
4. AVAILABILITY OF DOCUMENTATION
Copies of the circular, in English, may be obtained during normal business hours
from Absa Capital, Investments, 15 Alice Lane, Sandton (+27 11 895 5517) or on
the website (www.newfunds.co.za).
Johannesburg
12 January 2012
Originator, issuer agent, corporate advisor and sponsor
Absa Capital
(the investment banking division of Absa Bank Limited, affiliated with Barclays
Capital)
Legal Adviser
Webber Wentzel
Date: 12/01/2012 07:41:00 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
