PTXTEN PTXSPY 201907160022A
Result of ballot voting procedure in respect of amendment to PTXTEN and amalgamation with PTXSP
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")
BALLOT VOTING PROCEDURES IN RESPECT OF (1) THE AMENDMENT OF THE INVESTMENT
POLICY OF THE CORESHARES PROPERTY TOP TEN EXCHANGE TRADED FUND ("PTXTEN")
AND (2) THE AMALGAMATION OF THE CORESHARES PROPERTY SAPY EXCHANGE TRADED
FUND ("PTXSPY") WITH THE CORESHARES PROPERTY TOP TEN EXCHANGE TRADED
FUND("PTXTEN")
Investors are referred to the announcements released on SENS on 17 May 2019 regarding the ballot
voting procedures in respect of the amendment of the investment policy of the PTXTEN and the
amalgamation of the PTXSPY AND PTXTEN are advised that the audited results of the voting ballot
procedures were as follows:
1. Summary of Votes: Amendment to investment policy of PTXTEN
Total Total Responses in Responses
responses received against the
not favour of the
received amendment to
amendment to
Investment policy
Total units Investment policy
of PTXTEN
of PTXTEN
Units per 16 739 868 14 233 250 2 506 618 2 384 729 121 889
shareholder
register (#)
% of total 100% 85.03% 14.97%
units
% of 95.14% 4.86%
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).
Less than 25% of the total number of participatory investors in the portfolio responded to the
first ballot request, therefore the ballot voting procedure was not successful and a second ballot
voting procedure will be conducted.
2. Summary of Votes: Amalgamation - PTXTEN Ballot
Total Total Responses in Responses
responses received favour of the against the
not amalgamation of amalgamation of
Total units received the CoreShares the CoreShares
Property SAPY Property SAPY
Exchange Traded Exchange Traded
Fund ("PTXSPY") Fund ("PTXSPY")
into the into the
CoreShares CoreShares
Property Top Ten Property Top Ten
Exchange Traded Exchange Traded
Fund ("PTXTEN") Fund ("PTXTEN")
Units per 16 739 868 13 898 876 2 840 992 2 725 771 115 221
shareholder
register (#)
% of total 100% 83.03% 16.97%
units
% of 95.94% 4.06%
responses
received
3. Summary of Votes: Amalgamation - PTXTSPY Ballot
Total Total Responses in Responses
responses received favour of the against the
not amalgamation of amalgamation of
Total units received the CoreShares the CoreShares
Property SAPY Property SAPY
Exchange Traded Exchange Traded
Fund ("PTXSPY") Fund ("PTXSPY")
into the into the
CoreShares CoreShares
Property Top Ten Property Top Ten
Exchange Traded Exchange Traded
Fund ("PTXTEN") Fund ("PTXTEN")
Units per 3 027 799 2 868 016 159 783 148 441 11 342
shareholder
register (#)
% of total 100% 94.72% 5.28%
units
% of 92.90% 7.10%
responses
received
In terms of section 99 of the Act, the ballot will be valid if the majority of investors, excluding the
manager, vote in favour of the amalgamation. Absence of a response will be regarded as a vote in
favour of the amalgamation.
4. Summary of overall results
Investors in PTXSPY and PTXTEN have provided consent for the amalgamation of the two
portfolios however, investors holding less than 25% in value of the total number of participatory
investors in PTXTEN responded to the ballot to amend the investment policy of PTXTEN which
then requires a second ballot to 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) as stated in Paragraph 1 above.
Please note that although the ballot for the amalgamation of the PTXSPY and PTXTEN succeeded,
the amalgamation will only will only be effective in the event that the second ballot to amend the
investment policy of PTXTEN is successful and regulatory approval obtained from the FSCA.
The salient dates and information relating to the second ballot voting procedure to amend the
investment policy of PTXTEN will be announced on SENS in due course.
Should you require any further assistance please send an email to info@coreshares.co.za .
16 July 2019
Corporate advisor and sponsor: Grindrod Bank Limited
Trustee: Société Générale
Date: 16/07/2019 01:45:00
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