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Finalisation announcement - Results of second ballot voting procedure in respect of tha amendment of PTXTEN
CoreShares Index Tracker Managers (RF) Proprietary Limited
CoreShares PropTrax 10 ETF
Share code: PTXTEN
ISIN: ZAE000155362
CoreShares PropTrax SAPY ETF
Share code: PTXSPY
ISIN: ZAE000101911
A portfolio in the CoreShares Index Tracker Collective Investment Scheme registered as such in
terms of the Collective Investment Schemes Control Act, 45 of 2002, managed by CoreShares Index
Tracker Managers (RF) Proprietary Limited (“CoreShares”).
FINALISATION ANNOUNCEMENT - RESULTS OF SECOND BALLOT VOTING PROCEDURE IN
RESPECT OF (1) THE AMENDMENT OF THE INVESTMENT POLICY OF THE CORESHARES
PROPERTY TOP TEN EXCHANGE TRADED FUND (“PTXTEN”)
Investors are referred to the announcement released on SENS on 12 August 2019 regarding the
ballot voting procedures in respect of the amendment of the investment policy of the PTXTEN and are
advised that the audited results of the second voting ballot procedures were as follows:
1. Summary of Votes: Amendment to investment policy of PTXTEN
Total Total Responses in Responses
responses received favour of the against the
not amendment to amendment to
Total units received Investment policy Investment policy
of PTXTEN of PTXTEN
Units per 16 739 868 14 832 666 1 907 202 1 829 644 77 558
shareholder
register (#)
% of total 100% 88.61% 11.39%
units
% of 95.93% 4.07%
responses
received
CoreShares is regulated by the Financial Sector Conduct Authority (formerly the Financial Services
Board). In terms of Section 98(2) of the Collective Investment Schemes Control Act of 2002 and
clause 67 of the Main Deed of the Scheme, investor consent is required to effect the proposed
amendment, which allow for the following:
• Investors holding no less than 25% in value of the total number of participatory investors in the
Portfolio, excluding CoreShares, must respond to the ballot voting request, for it to be successful
(Clause 67.1 of Main Deed).
• If the majority of those who have responded to the ballot, have voted in favour, then the
amendment will be successful.
• Where less than 25% of investors respond, a second ballot must be conducted where only the
majority result of those who have responded, will determine whether the amendment will be
successful or not i.e. 25% quorum is not required (Clause 67.3 of Main Deed).
The second ballot conducted did not require a 25% quorum and the majority of the investors
who responded to the second ballot have voted in favour, accordingly the Amendments is
successful.
Special interim distribution
As part of the implementation of the Amendments, a special interim distribution (if any) will be
declared and paid to previous investors of both the CoreShares PropTrax Ten and CoreShares
PropTrax SAPY ETFs. The timeline for the special interim distributions is included below.
The implementation of the Amendments will therefore continue on the same timeline announced on
12 August 2019, the remaining items of which are included below, for ease of reference:
Timeline for the implementation of the Amendments 2019
Results of second ballot and finalisation data announcement Thursday, 10 October
FSCA to advise CoreShares to submit signed supplemental deeds Wednesday, 16 October
for approval
Determination of CoreShares PropTrax SAPY ETF final conversion Monday, 28 October
ratio at market close on
Announcement of final conversion ratio of CoreShares PropTrax Tuesday, 29 October
SAPY ETF on SENS before 11:00
Last Day to Trade in the CoreShares PropTrax Ten ETF, in respect Tuesday, 29 October
of the special interim distribution, amendment of the investment
policy and the name change to the new CoreShares SAProp
Income ETF
Last Day to Trade in the CoreShares PropTrax SAPY ETF, in Tuesday, 29 October
respect of the special interim distribution and the amalgamation/
conversion to the new CoreShares SAProp Income ETF
Suspension of trading of the CoreShares PropTrax Ten ETF on the Wednesday, 30 October
JSE
Suspension of trading of the CoreShares PropTrax SAPY ETF on Wednesday, 30 October
the JSE
Commencement of trading in the CoreShares SAProp Income ETF Wednesday, 30 October
on the JSE (New ISIN: ZAE000273165; Share Code:CSPROP)
Announcement of any fractional entitlement in respect of the Thursday, 31 October
amalgamation/ conversion of the CoreShares PropTrax SAPY ETF
to the new CoreShares SAProp Income ETF before 11:00 on
Announcement of special interim distribution rate to holders of the Thursday, 31 October
CoreShares PropTrax SAPY ETF
Announcement of special interim distribution rate to holders of the Thursday, 31 October
CoreShares PropTrax Ten ETF
Record date Friday, 1 November
Accounts of dematerialised securities holders updated at their Monday, 4 November
CSDPs or brokers
Termination of trading of CoreShares PropTrax Ten and Tuesday, 5 November
CoreShares PropTrax SAPY ETFs on the JSE
Payment of fractional entitlements to security holders of Friday, 08 November
CoreShares PropTrax SAPY ETFs
Payment of special interim distribution to previous holders of the Friday, 08 November
CoreShares PropTrax SAPY ETF
Payment of special interim distribution to previous holders of the Friday, 08 November
CoreShares PropTrax Ten ETF
Note: Any changes to the dates above will be announced on SENS.
1. Notice and restrictions
CoreShares South African Property Income ETF participatory interests are not in any way
sponsored, endorsed, sold or promoted by the JSE or S&P Dow Jones Indices (“S&P”) and
none of these parties makes any 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
South Africa Property Income Index and/or the 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 CITM by S&P. However, S&P shall not be liable (whether
in negligence or otherwise) to any person for any error in the index and S&P shall not be
under any obligation to advise any person of any error therein.
The securities being issued pursuant to this announcement 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 the U.S. Commodity Futures Trading Commission under the U.S. Commodity
Exchange Act has not approved trading in the securities. 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.
Should you require any further assistance please send an email to info@coreshares.co.za
10 October 2019
Corporate advisor and sponsor: Grindrod Bank Limited
Trustee: Société Générale
Date: 10/10/2019 10:44:00
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