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Fraction Rate Announcement in Respect of the STXEQM ETF Amalgamation with STXMMT Portfolio
2024/02/12 13:00:00Download PDF Stock report
Fraction Rate Announcement in Respect of the STXEQM ETF Amalgamation with STXMMT Portfolio
SATRIX COLLECTIVE INVESTMENT SCHEME 2
SATRIX EQUITY MOMENTUM ETF
JSE code: STXEQM
ISIN code: ZAE000318911
('SATRIXEQM')
SATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX MOMENTUM PORTFOLIO
JSE Code: STXMMT
ISIN: ZAE000264008
('SATRIXMMT')
A portfolio in the Satrix Collective Investment Scheme, registered as
such in terms of the Collective Investment Schemes Control Act, 45 of
2002
FRACTION RATE ANNOUNCEMENT IN RESPECT OF THE SATRIX EQUITY MOMENTUM
ETF (STXEQM) AMALGAMATION WITH SATRIX MOMENTUM PORTFOLIO (STXMMT)
Further to the announcement released on SENS on Thursday, 01 February
2024 regarding the finalisation announcement, and the issue price
announcement on Friday, 09 February 2024, Satrix Managers (RF) Pty
Limited hereby announce the fraction rate.
SATRIX Equity Momentum ETF (STXEQM) investors are further advised
that, they will be paid a fractional entitlement in the instance where
fractional ETF securities cannot be issued. This will be equivalent
to the fraction each individual is entitled to based on their
individual holdings in the SATRIX Equity Momentum ETF (STXEQM) as at
record date Tuesday, 13 February 2024.
The conversion ratio is 3.5822. For each STXEQM unit, an investor will
receive 3.5822 STXMMT units as at market close on Wednesday, 31 January
2024.
The fraction rate is R12.17990 (1217.990 cents) at LDT+1 less 10%.
This equates to R10.96191 (1096.191 cents), which is 1217.990 cents
less 10%.
Example of fractional entitlement
Assuming an investor holds 10 STXEQM securities on Tuesday, 13
February 2024 (Record date), the investor will receive 10 x 3.5822 =
35.8220 STXMMT securities. This is then rounded down to 35 securities.
The fraction of 0.8220 securities is paid at a rate of R10.96191
(1096.191 cents).
12 February 2024
Satrix Managers (RF) Pty Limited
Sponsors
Vunani Sponsors
Date: 12-02-2024 01:00:00
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