| Wed 15 Mar 2006, 7:30 | | Satrix Resi / Satrix Swix Top 40 - Initial Offer F |
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JSE
STX
Satrix Resi / Satrix Swix Top 40 - Initial Offer For Satrix Resi And Satrix Swix
Top 40 Participatory Interests (Collectively, "Satrix Securities") Referencing
The JSE/FTSE Resource 20 Index And Swix Top 40 Index, Respectively, To Be Listed
On The Main Board Of The JSE Limited ("JSE") In The "Exchange Traded Funds"
Sector
SATRIX RESI
Share code: STXRES ISIN: ZAE000078622
and
SATRIX SWIX TOP 40
Share code: STXSWX ISIN: ZAE000078580
Portfolios in the Satrix Collective Investment Scheme in Securities ("Satrix")
(Issuer Code: ITX)(Established in the Republic of South Africa on 27 November
2000 and converted to a collective investment scheme on 30 July 2004 in terms of
the Collective Investment Schemes Control Act, 45 of 2002 (the "Act"))
(the "portfolios")
INITIAL OFFER FOR SATRIX RESI AND SATRIX SWIX TOP 40 PARTICIPATORY INTERESTS
(COLLECTIVELY, "SATRIX SECURITIES") REFERENCING THE JSE/FTSE RESOURCE 20 INDEX
AND SWIX TOP 40 INDEX, RESPECTIVELY, 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 (as issued,
together with the First and Second Supplements, on 15 March 2006) (collectively,
the "circular"), which is available as set out below.
1. INTRODUCTION
Satrix is a collective investment scheme in securities, currently
comprising the Satrix 40, Satrix INDI and Satrix FINI portfolios. Securities in
the new Satrix RESI Portfolio will track the price and yield performance of the
JSE/FTSE Resource 20 Index, while securities in the new Satrix SWIX Top 40
Portfolio will track the price and yield performance of the SWIX Top 40 Index.
This will be achieved by:
issuing participatory interests 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 1/1 000th of the relevant Index level at
the time of issue;
allowing cash subscriptions, in Rands, in terms of the initial offer, using the
proceeds of the issue of each Satrix security to acquire 1 millionth of a basket
of the securities comprising the relevant Index ("constituent shares");
allowing in specie subscriptions by the delivery of one or more whole baskets of
the constituent shares ("baskets of constituent shares") per 1 million Satrix
securities;
allowing the holders of securities to either trade them on the JSE, to redeem
them for cash in respect of blocks of 1 million Satrix securities or, in respect
of every 1 million Satrix securities redeemed, to redeem them for one basket of
constituent shares.
2. SALIENT DATES AND TIMES AND FURTHER ANNOUNCEMENT
The initial offer is open from 09:00 on Wednesday, 15 March 2006 until 12:00 on
Tuesday, 4 April 2006.
LAs will be issued in the name of successful applicants on Wednesday, 5 April
2006 and will convert to Satrix securities at commencement of trading on Monday,
10 April 2006.
A further announcement containing the results of the initial offer including the
offer price will be published on SENS on Monday, 10 April 2006.
3. NOTICE
Satrix Managers has been granted permission to use the names "RESI" and "SWIX
Top 40".
Satrix participatory interests are not in any way sponsored, endorsed, sold or
promoted by FTSE International Limited ("FTSE"), the London Stock Exchange Plc
(the "LSE") or The Financial Times Limited ("FT") and neither FTSE nor the LSE
nor FT makes any warranty or representation whatsoever, expressly or implied,
either as to the results to be obtained from the use of the FTSE/JSE Resource 20
Index or the SWIX Top 40 Index (collectively, "the Index") and/or the figure at
which the Index stands at any particular time on any particular day or
otherwise. The Index is compiled and calculated by FTSE in collaboration with
the JSE. However, neither the JSE, FTSE, the LSE nor FT shall be liable (whether
in negligence or otherwise) to any person for any error in the Index and neither
the JSE, FTSE, the LSE nor FT shall be under any obligation to advise any person
of any error therein. "FTSETrade Mark", "FT-SERegistered" and
"FootsieRegistered" are trade marks of the LSE and FT and are used by FTSE and
the JSE under licence. "JSE" is a trade mark of the JSE and is used by FTSE
under licence.
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 Satrix Managers, all of whom are non-executive, are:
Director : Niall Smith
Address : c/o Deutsche Bank AG, Winchester
House, 1 Great Winchester Street,
London, EC2N 2DB, England
Director : Roger Koep
Address : c/o Deutsche Securities (Proprietary)
Limited, 3 Exchange Square, 87 Maude
Street, Sandton, 2196
Director : Russell Loubser
Address : c/o JSE Limited, One Exchange Square,
2 Gwen Lane, Sandown, Sandton, 2196
Director : Freda May Evans
Address : c/o JSE Limited, One Exchange Square,
2 Gwen Lane, Sandown, Sandton, 2196
Director : Pierre Rodrigues
Address : c/o Sanlam Investment Management (Proprietary) Limited
("SIM"), 55 Willie van Schoor Avenue, Belville, Western
Cape, 7530
Director : Francois Kellerman
Address : c/o SIM, 55 Willie van Schoor Avenue, Belville, Western
Cape, 7530
The trustee of Satrix, Absa Bank Limited, is located at 6th Floor, Absa Towers
North, 6E1, Johannesburg.
The registered office of Satrix is located at One Exchange Square, 2 Gwen Lane,
Sandown, Sandton, 2196.
5. COPIES OF THE CIRCULAR
Copies of the circular, in English, may be obtained during normal business hours
from the registered office of Satrix Managers (Proprietary) Limited - One
Exchange Square, 2 Gwen Lane, Sandown, Sandton, 2196, from 15 March 2006 until 4
April 2006.
6. SUBSCRIPTION CONDITIONS APPLICABLE TO THE INITIAL OFFER
The initial offer is subject to the conditions detailed in the circular and as
summarised below:
You cannot withdraw an application once submitted. It will be irrevocable.
All subscriptions for new Satrix securities will be treated as primary market
acquisitions. No application forms are required.
All subscribers for new Satrix 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 Standard Securities, trading as Standard Bank
Online Share Trading, which has been appointed as the participating broker to
assist first time retail clients in opening an account. Further information can
be obtained from Standard Securities" website www.securities.co.za or on 0860
121 161.
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 Satrix
securities under the initial offer, the investor is advised to contact his
professional advisors, alternatively to contact Satrix Managers directly on +27
11 520-7356.
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.
Johannesburg
15 March 2006
Manager
Satrix Managers (Proprietary) Limited
Corporate advisor, legal advisor and sponsor
Java Capital (Proprietary) Limited
Trustee
Absa Bank Limited
Date: 15/03/2006 07:30:08 AM Produced by the JSE SENS Department
