ETFRHO 201903120058A
UPDATED ANNOUNCEMENT – ETFRHO CLOSING PRICE FOR 28 February 2019

Africa ETF Issuer Limited (RF) (Incorporated in the Republic of South Africa)
(Registration No. 2013/022008/06
Share code: ETFRHO

ISIN code: ZAE000210787
(Africa ETF)

UPDATED ANNOUNCEMENT – ETFRHO CLOSING PRICE FOR 28 February 2019

Investors are referred to the announcement dated 1 March 2019 and wish to clarify that the statement
"closing price quoted on the JSE Limited for ETFRHO on 28 February 2019 was incorrectly stated"
should not be interpreted to mean that the closing price on the 28th was incorrectly determined or
there to be an error on the part of the JSE.

ETFRHO last traded price in the closing auction was substantially higher than the fund's Net Asset
Value ("NAV") for the same day. Certain ETF Market Makers do not participate in the closing auction
and any transaction concluded during the auction period at prices that are substantially different to the
NAV will result in large variances between the published closing price and actual fund NAV, as was
the case on 28 February 2019.

The NAV is set out in the table below:
ETF              JSE Closing Price 28/02/2019                      Published NAV 28/02/2019
ETFRHO           ZAR 430 00                                        ZAR 371 02



12 March 2019


Sponsor
The Standard Bank of South Africa Limited, acting through its Corporate and Investment Banking
division.

Date: 12/03/2019 05:18:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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