Rize UCITS ICAV Fund Closure Notice

 
TIDMFLWR 
 
10 November 2023 
 
This document is important and requires your immediate attention. If you are in 
any doubt as to the action you should take you should seek advice from your 
investment consultant, tax adviser and/or legal adviser as appropriate. 
 
If you have sold or transferred all of your shares in Rize UCITS ICAV (the 
"ICAV"), please pass this document at once to the purchaser or transferee or to 
the stockbroker, bank or other agent through whom the sale or transfer was 
effected for transmission to the purchaser or transferee as soon as possible. 
 
Unless otherwise defined herein, all capitalised terms used herein shall bear 
the same meaning as capitalised terms used in the prospectus for the ICAV dated 
22 January 2020, as may be amended or supplemented from time to time (the 
"Prospectus").  A copy of the Prospectus is available upon request during normal 
business hours from the ICAV. 
 
The directors of the ICAV (the "Directors") accept responsibility for the 
accuracy of the information contained in this document.  To the best of the 
knowledge and belief of the Directors (who have taken all reasonable care to 
ensure that such is the case) the information contained in this document is in 
accordance with the facts and does not omit anything likely to affect the import 
of such information. 
 
Please note that the Central Bank of Ireland (the "Central Bank") has not 
reviewed this letter. 
 
Notice of Closure for: 
 
Rize Medical Cannabis and Life Sciences UCITS ETF (ISIN: IE00BJXRZ273) 
 
Dear Investor, 
 
 A. INTRODUCTION 
 
The ICAV is an open-ended investment vehicle with variable capital organised 
under the laws of Ireland and is authorised by the Central Bank pursuant to the 
European Communities (Undertakings for Collective Investment in Transferable 
Securities) Regulations 2011, as amended. 
 
The Rize Medical Cannabis and Life Sciences UCITS ETF (ISIN: IE00BJXRZ273) is a 
sub-fund of the ICAV (the "Fund"). 
 
The Fund seeks to replicate the performance of the Foxberry Medical Cannabis & 
Life Sciences USD Net Total Return Index (the "Index"). 
 
We are writing to you as an Investor in the Fund.  The purpose of this letter is 
to inform Investors that, the Directors have determined to compulsorily 
repurchase the Shares in the Fund (the "Shares") as of 20 December 2023 (the 
"Compulsory Redemption Date"). 
 
In accordance with the terms of the Prospectus, the Directors have discretion, 
at any time after the first anniversary of the first issue of Shares of the 
ICAV, to require redemption of all the Shares of a particular Fund, if the Net 
Asset Value of such Fund is lower than USD 50,000,000, for a period of 30 
consecutive days. 
 
Accordingly, on the basis that the ICAV first issued Shares in February 2020 and 
that the Net Asset Value of the Fund has remained below USD 50,000,000 for a 
period of 30 consecutive days, the Directors have determined to redeem all the 
Shares and close the Fund. 
 
Therefore, in accordance with the Prospectus, the Directors hereby give notice 
to the Investors in the Fund of their intention to: 
 
i)                    cancel the listing(s) of the Fund on any Relevant Stock 
Exchanges and the right of the Fund to be traded on any Relevant Stock Exchanges 
immediately following the Final Exchange Trading Day (as set out below); and 
 
ii)                   compulsory redeem all the Shares on the Compulsory 
Redemption Date. 
 
 B. PROPOSED TIMETABLE 
 
+---------------------------------------------------------+----------+---------- 
---+ 
|Key                                                      |Event 
|Description  | 
|Dates                                                    |          | 
| 
+---------------------------------------------------------+----------+---------- 
---+ 
|12 December 2023                                         |Final     |This is 
the  | 
|                                                         |Exchange  |final date 
on| 
|                                                         |Trading   |which the 
| 
|                                                         |Day       |Shares can 
be| 
|                                                         |          |bought or 
| 
|                                                         |          |sold on 
all  | 
|                                                         |          |Relevant 
| 
|                                                         |          |Stock 
| 
|                                                         |          |Exchanges. 
| 
+---------------------------------------------------------+----------+---------- 
---+ 
|14 December 2023                                         |Final     |This is 
the: | 
|                                                         |Dealing   | 
| 
|                                                         |Day       |  · the 
final| 
|                                                         |          |Dealing 
Day  | 
|                                                         |          |for 
| 
|                                                         | 
|subscriptions| 
|                                                         |          |and 
| 
|                                                         | 
|redemptions  | 
|                                                         |          |of the 
Shares| 
|                                                         |          |by 
Authorised| 
|                                                         | 
|Participants | 
|                                                         |          |directly 
with| 
|                                                         |          |the ICAV 
| 
|                                                         |          |after 
which  | 
|                                                         |          |all such 
| 
|                                                         |          |primary 
| 
|                                                         |          |market 
| 
|                                                         |          |dealing 
will | 
|                                                         |          |be 
| 
|                                                         | 
|permanently  | 
|                                                         |          |suspended. 
| 
|                                                         |          |Dealing in 
| 
|                                                         |          |the Fund 
| 
|                                                         |          |shall be 
| 
|                                                         | 
|permanently  | 
|                                                         |          |suspended 
| 
|                                                         |          |with 
effect  | 
|                                                         |          |from the 
| 
|                                                         |          |Business 
Day | 
|                                                         |          |following 
the| 
|                                                         |          |Final 
Dealing| 
|                                                         |          |Day; 
| 
|                                                         |          | 
| 
|                                                         |          |  · the 
final| 
|                                                         |          |date on 
which| 
|                                                         |          |the Fund 
will| 
|                                                         |          |remain 
fully | 
|                                                         |          |invested 
in  | 
|                                                         |          |the 
| 
|                                                         | 
|constituents | 
|                                                         |          |of (and 
| 
|                                                         |          |therefore 
the| 
|                                                         |          |final date 
| 
|                                                         |          |that the 
Fund| 
|                                                         |          |will be 
fully| 
|                                                         |          |exposed 
to)  | 
|                                                         |          |the Index 
in | 
|                                                         |          |accordance 
| 
|                                                         |          |with its 
| 
|                                                         |          |Investment 
| 
|                                                         |          |Policy; 
and  | 
|                                                         |          | 
| 
|                                                         |          |  · the 
final| 
|                                                         |          |date on 
which| 
|                                                         |          |the TER 
shall| 
|                                                         |          |be charged 
to| 
|                                                         |          |the assets 
of| 
|                                                         |          |the Fund. 
| 
|                                                         |          | 
| 
|                                                         |          |With 
effect  | 
|                                                         |          |from this 
| 
|                                                         |          |date, the 
| 
|                                                         |          |Manager 
and  | 
|                                                         |          |the 
| 
|                                                         | 
|Administrator| 
|                                                         |          |shall 

begin  | 
|                                                         |          |to 
liquidate | 
|                                                         |          |(i.e. 
sell)  | 
|                                                         |          |the 
| 
|                                                         | 
|Investments  | 
|                                                         |          |of the 
Fund  | 
|                                                         |          |for cash 
| 
|                                                         |          |(which may 
| 
|                                                         |          |take 
several | 
|                                                         |          |days to 
| 
|                                                         |          |complete) 
so | 
|                                                         |          |that the 
| 
|                                                         |          |Fund's 
assets| 
|                                                         |          |are fully 
| 
|                                                         |          |liquidated 
| 
|                                                         |          |for cash 
in  | 
|                                                         |          |advance of 
| 
|                                                         |          |(and so 
that | 
|                                                         |          |the final 
Net| 
|                                                         |          |Asset 
Value  | 
|                                                         |          |per Share 
may| 
|                                                         |          |be 
determined| 
|                                                         |          |in respect 
| 
|                                                         |          |of) the 
| 
|                                                         |          |Compulsory 
| 
|                                                         |          |Redemption 
| 
|                                                         |          |Date. As 
the | 
|                                                         | 
|liquidation  | 
|                                                         |          |of the 
Fund's| 
|                                                         | 
|Investments  | 
|                                                         |          |may take 
| 
|                                                         |          |several 
days | 
|                                                         |          |to 
complete, | 
|                                                         |          |the Fund's 
| 
|                                                         |          |exposure 
to  | 
|                                                         |          |the 
| 
|                                                         | 
|constituents | 
|                                                         |          |of the 
Index | 
|                                                         |          |shall 
reduce | 
|                                                         |          |as the 
Fund's| 
|                                                         |          |Net Asset 
| 
|                                                         |          |Value is 
| 
|                                                         |          |converted 
| 
|                                                         |          |from 
equity  | 
|                                                         |          |securities 
to| 
|                                                         |          |cash. 
| 
+---------------------------------------------------------+----------+---------- 
---+ 
|20 December 2023                                         |Compulsory|This is 
the  | 
|                                                         |Redemption|date by 
| 
|                                                         |Date      |reference 
to | 
|                                                         |          |which: 
| 
|                                                         |          | 
| 
|                                                         |          |  · all of 
| 
|                                                         |          |the Shares 
| 
|                                                         |          |which 
remain | 
|                                                         |          |in issue 
| 
|                                                         |          |shall be 
| 
|                                                         | 
|compulsorily | 
|                                                         |          |redeemed 
by  | 
|                                                         |          |the ICAV; 
and| 
|                                                         |          | 
| 
|                                                         |          |  · the 
final| 
|                                                         |          |Net Asset 
| 
|                                                         |          |Value per 
| 
|                                                         |          |Share will 
be| 
|                                                         | 
|determined.  | 
|                                                         |          | 
| 
|                                                         |          |The 
| 
|                                                         |          |redemption 
| 
|                                                         |          |price 
payable| 
|                                                         |          |on 
| 
|                                                         | 
|liquidation  | 
|                                                         |          |will be 
| 
|                                                         |          |calculated 
on| 
|                                                         |          |a basis 
| 
|                                                         |          |reflecting 
| 
|                                                         |          |the 
| 
|                                                         | 
|realisation  | 
|                                                         |          |and 
| 
|                                                         | 
|liquidation  | 
|                                                         |          |costs on 
| 
|                                                         |          |closing 
the  | 
|                                                         |          |Fund. 
| 
+---------------------------------------------------------+----------+---------- 
---+ 
|28 December 2023                                         |Indicative|This is an 
| 
|                                                         |Settlement|indicative 
| 
|                                                         |Date      |date on 
which| 
|                                                         |          |the 
Directors| 
|                                                         |          |propose to 
| 
|                                                         |          |distribute 
| 
|                                                         |          |the 
| 
|                                                         |          |liquidated 
| 
|                                                         |          |proceeds 
from| 
|                                                         |          |the 
| 
|                                                         |          |compulsory 
| 
|                                                         |          |redemption 
of| 
|                                                         |          |the Shares 
to| 
|                                                         |          |the 
relevant | 
|                                                         | 
|Shareholders.| 
|                                                         |          |The 
Directors| 
|                                                         |          |can give 
no  | 
|                                                         |          |assurance 
| 
|                                                         |          |that the 
| 
|                                                         | 
|distribution | 
|                                                         |          |of the 
| 
|                                                         |          |proceeds 
from| 
|                                                         |          |the 
| 
|                                                         |          |compulsory 
| 
|                                                         |          |redemption 
of| 
|                                                         |          |the Shares 
| 
|                                                         |          |will take 
| 
|                                                         |          |place on 
the | 
|                                                         |          |Indicative 
| 
|                                                         |          |Settlement 
| 
|                                                         |          |Date. The 
| 
|                                                         |          |Indicative 
| 
|                                                         |          |Settlement 
| 
|                                                         |          |Date 
stated  | 
|                                                         |          |above is 
for | 
|                                                         |          |indicative 
| 
|                                                         |          |purposes 
only| 
|                                                         |          |as the 
| 

|                                                         | 
|liquidation  | 
|                                                         |          |of the 
| 
|                                                         | 
|Investments  | 
|                                                         | 
|attributable | 
|                                                         |          |to the 
Fund  | 
|                                                         |          |following 
the| 
|                                                         |          |Compulsory 
| 
|                                                         |          |Redemption 
| 
|                                                         |          |Date can 
be  | 
|                                                         |          |affected 
by  | 
|                                                         |          |various 
| 
|                                                         |          |factors 
| 
|                                                         |          |including 
| 
|                                                         |          |delays in 
the| 
|                                                         |          |settlement 
of| 
|                                                         | 
|transactions | 
|                                                         |          |and 
| 
|                                                         | 
|repatriation | 
|                                                         |          |of the 
Fund's| 
|                                                         |          |cash. 
| 
|                                                         |          | 
| 
|                                                         |          |Please 
note  | 
|                                                         |          |that the 
date| 
|                                                         |          |on which 
| 
|                                                         |          |Investors 
| 
|                                                         |          |receive 
their| 
|                                                         | 
|distribution | 
|                                                         |          |proceeds 
will| 
|                                                         |          |depend on 
the| 
|                                                         |          |procedures 
of| 
|                                                         |          |their 
broker,| 
|                                                         |          |investment 
| 
|                                                         |          |platform 
or  | 
|                                                         |          |other 
| 
|                                                         | 
|intermediary | 
|                                                         |          |through 
which| 
|                                                         |          |they hold 
| 
|                                                         |          |their 
Shares.| 
+---------------------------------------------------------+----------+---------- 
---+ 
 
C. ADDITIONAL INFORMATION 
 
The Manager will be responsible for all legal, procedural, stock exchange 
related and service provider costs incurred in respect of the de-listing, 
redemption process and termination of the Fund. 
 
Secondary market investors (i.e. Investors who purchased their Shares through a 
broker, investment platform or other intermediary) 
 
No distribution proceeds resulting from the compulsory redemption of the Shares 
shall be payable by the ICAV directly to any person other than those persons 
listed as Shareholders as at the Compulsory Redemption Date. Please note that 
Investors (apart from Clearstream) will not appear on the ICAV's Register of 
Shareholders and, accordingly, should deal directly with their relevant broker, 
investment platform, market maker/Authorised Participant, nominee, clearing 
agent or Clearstream (as relevant) in relation to the receipt of any 
distribution proceeds that may be attributable to their investment in the Fund. 
 
Authorised Participants only 
 
An Authorised Participant who submits a valid application for redemption of the 
Shares on or before the Final Dealing Date shall not be subject to the 
Compulsory Redemption process in respect of the Shares. However, in the event 
that any such application for redemption has not settled in advance of the 
Compulsory Redemption Date (as a result of the relevant Authorised Participant 
having failed to deliver the Shares by such date), the relevant redemption 
application shall be cancelled. In such circumstances, the number of Shares that 
were the subject of the cancelled redemption application will be compulsorily 
redeemed along with all of the other outstanding Shares on the Compulsory 
Redemption Date. The relevant Authorised Participant whose application was 
cancelled will be required to reimburse the ICAV to the extent that the 
redemption price per Share determined in respect of the Compulsory Redemption 
exceeds the redemption price per Share that would have been payable to the 
relevant Authorised Participant in respect of the cancelled redemption 
application had it not been cancelled, such amount representing the loss to the 
Fund incurred in connection with the cancellation of the redemption application. 
 
Other information 
 
Shareholders should consult their own professional advisers as to the specific 
tax implications of the termination under the laws of the countries of their 
nationality, residence, domicile, or incorporation. 
 
If you have any queries arising from this Notice of Closure, please contact the 
Manager at [e-mail]. 
 
D.CONCLUSION 
 
The Directors are of the opinion that the proposal is in the best interests of 
the Investors of the Fund as a whole. 
 
Investors in Austria and Germany 
 
The Prospectus, together with the Supplements, the Key Information Documents, 
the articles of incorporation and the annual and semi-annual reports of the 
Company, each in paper form, as well as the issue, repurchase and any exchange 
prices are available and may be obtained free of charge from: FE fundinfo 
(Luxembourg) S.à.r.l., 77 Rue du Fossé, 4123 Esch-sur-Alzette, Luxembourg. 
 
Investors in Switzerland 
 
The prospectus, the key information documents, the Instrument of Incorporation 
and the latest annual and semi-annual reports of the Company can be obtained 
free of charge on request from the representative in Switzerland. 
 
St. Gallen, November 2023 
 
Swiss Representative: 
 
1741 Fund Solutions AG 
 
Burggraben 16, 9000 St. Gallen 
 
Swiss Paying Agent: 
 
Tellco AG 
 
Bahnhofstrasse 4, 6430 Schwyz 
 
Questions and Answers 
 
Unless otherwise defined herein, all capitalised terms used herein shall bear 
the same meaning as capitalised terms used in the Prospectus 
 
1. Question: Will I incur any costs associated with the Compulsory Redemption 
process? 
 
Answer: The Manager will be responsible for all legal, procedural, stock 
exchange related and service provider fees and charges incurred in respect of 
the de-listing process, redemption process and termination of the Fund. Such 
costs will not be passed on to Shareholders, nor has the Manager levied any 
charge to Shareholders in respect of the closure process. 
 
Only portfolio transaction costs associated with liquidating the Fund's 
investments shall be levied to the Fund. 
 
However, Investors may be charged fees or costs separately by their respective 
broker, investment platform or nominee (over which the ICAV has no control) in 
relation to the processing of any payments by them or provision of 
administrative services by them related to the compulsory redemption. 
 
2. Question: When will I know how much I will receive in respect of my 
investment? 
 
Answer:: The  final Net Asset Value of the Fund shall reflect the actual 
realised / liquidated value of all assets of the Fund as at the Compulsory 
Redemption Date, following the Investment liquidation process that will commence 
from the Final Dealing Day. 
 
The Directors expect to be able to publish the final Net Asset Value on the 
Indicative Settlement Date and the figures will be made available at: 
www.rizeetf.com 
 
3. Question: When will I receive my money? 
 
Answer: The redemption proceeds shall be distributed to Clearstream on or after 
the Indicative Settlement Date (such date which is indicative only). However, as 
a large proportion of Investors hold their beneficial interest in the Shares via 
brokers/investment platforms who themselves may hold such interest via one or 
more nominees, it is up to the relevant brokers, investment platforms and 
applicable nominees throughout the chain of ownership to ensure that the 
proceeds of the compulsory redemption are distributed to their underlying 
investor clients in accordance with the arrangements they have in place between 
them. Therefore, Investors should liaise with their respective broker, 
investment platform or nominee in relation to when such broker, investment 
platform or nominee expects to be able to distribute the proceeds of the 
compulsory redemption to them. Often there are several layers of 
nominee/ownership that the proceeds of the compulsory redemption must pass down 
through before they ultimately reach the end Investor who holds the beneficial 
interest in the Shares. So it may take several days or weeks for an Investor to 
receive the proceeds owed to them. 
 
. 
 
FURTHER INFORMATION 
 
Should you have any queries, please do not hesitate to contact the Manager, IQ 
EQ Fund Management (Ireland) Limited, using the following contact details: 
 
Email: [e-mail] 
 
Telephone: [phone] 
 
 
This information was brought to you by Cision http://news.cision.com 
 
 
END 
 
 

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November 13, 2023 05:50 ET (10:50 GMT)