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Name | Symbol | Market | Type |
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Xfts100 Ew | LSE:XFEW | London | Exchange Traded Fund |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.00 | 0.00% | 1,186.60 | 1,184.20 | 1,189.00 | 0 | 01:00:00 |
TIDMXFEW
Xtrackers (IE) plc
Investment Company with Variable Capital
Registered Office: 78 Sir John Rogerson's Quay, Dublin 2, Ireland
Registration number: 393802
(the "Company")
Important notice to the Shareholders of
Xtrackers FTSE 100 Equal Weight UCITS ETF
(ISIN: IE00BZ0CYG46)
Xtrackers Morningstar US Quality Dividend UCITS ETF
(ISIN: IE00BD6GC517)
Xtrackers Morningstar Global Quality Dividend UCITS ETF
(ISIN: IE00BYQLL121)
(each the "Fund", together the "Funds" or the "Terminating Funds")
20 September 2019
This notice is to inform you on behalf of the board of directors of the Company (the "Board of Directors") about recent developments in respect of the Funds in which you hold Shares.
Capitalised terms used in this notice have the same meaning as in the latest version of the prospectus of the Company (the "Prospectus") unless the context otherwise requires.
The Board of Directors deems it appropriate to close the Terminating Funds because there have been persistently low levels of demand and fund sizes have consistently remained below the Minimum Fund Size outlined in the Terminating Funds' supplements. As such the Terminating Funds cannot be operated in an economically efficient manner. The closure of Funds with sustained low levels of demand is an ordinary part of the business, along with the launch of new Funds where high levels of demand exist.
Consequently, and in accordance with the applicable provisions of the articles of association of the Company (the "Articles") and the Prospectus, the Board of Directors has resolved to terminate the Funds with effect from 11 October 2019 (the "Termination Date") and to proceed with the compulsory repurchase of all outstanding Shares of the Funds. The last Net Asset Value of each Fund will be calculated as of 11 October 2019.
As such, the Funds will be de-listed from the stock exchanges on which they are listed and trading on those stock exchanges will cease with effect from close of business on 04 October 2019 (the "Last Trading Day"). Therefore, sale or purchase of Shares in the Terminating Funds in the secondary market may only be made until close of business on the Last Trading Day. For the avoidance of doubt, the secondary market includes both trades on the relevant stock exchanges and any over-the-counter trades.
Requests for repurchase or subscription for Shares in the Terminating Funds in the primary market may be made in the usual manner for processing in accordance with the Prospectus prior to the Cut-off Time on 07 October 2019. However, the liquidation costs (if any) will be taken into account in the Repurchase Price. From and including 08 October 2019 to the Termination Date, no further subscriptions and repurchases will be accepted.
Please see below for a summary of the information above:
Fund ISIN Stock Last Trading Applicable Termination Exchanges Day on Cut-off Date from which Stock Time and Fund is Exchanges Date for to be from which primary delisted Fund is market to be delisted orders (Dublin time) Xtrackers IE00BZ0CYG46 Irish 04 October 15:30, 07 11 October FTSE Stock 2019 October 2019 100 Equal Exchange, 2019 Weight UCITS London ETF Stock Exchange Xtrackers IE00BD6GC517 London 04 October 16:30, 07 11 October Morningstar Stock 2019 October 2019 US Quality Exchange, 2019 Dividend XETRA UCITS ETF Xtrackers IE00BYQLL121 London 04 October 16:30, 07 11 October Morningstar Stock 2019 October 2019 Global Exchange, 2019 Quality XETRA Dividend UCITS ETF
The following terms and conditions of the compulsory repurchase have been determined in accordance with the Articles and shall apply as of the Termination Date of each Fund:
Shareholders who subscribe or redeem Shares in the Funds on the primary market are entitled to redeem their Shares in the Funds in accordance with the Prospectus as indicated above.
Please note that the Company does not charge any repurchase fee for the sale of Shares in the secondary market. Orders to sell Shares through a stock exchange can be placed via an authorised intermediary or stockbroker. However, Shareholders should note that orders in the secondary market may incur costs over which the Company has no control and to which the above disapplication of the Repurchase Charge does not apply.
Any further information in relation to the Terminating Funds may be obtained by contacting the Xtrackers ETF hotline on +44 (20) 7547 1747 or +49 (69) 910 30549, offices of foreign representatives or by sending an email to Xtrackers@dws.com.
Shareholders should seek advice from their stockbroker, bank manager, legal advisor, accountant or other independent financial advisor. 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.
Neither the contents of the Company's website nor the contents of any other website accessible from hyperlinks on the Company's website is incorporated into, or forms part of, this announcement.
Director
for and on behalf of
Xtrackers (IE) plc
Registered in Dublin as an open-ended variable capital umbrella investment company with limited liability and as an umbrella fund with segregated liability between sub-funds. Regulated by the Central Bank of Ireland.
Registration Number 393802. Registered Office as above.
Directors: Tom Murray (Irish), Michael Whelan (Irish), Gerry Grimes (Irish), Alex McKenna (UK), Manooj Mistry (UK)
View source version on businesswire.com: https://www.businesswire.com/news/home/20190920005025/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
September 20, 2019 04:00 ET (08:00 GMT)
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