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NFNAMB : Results of the Initial Offer for Participatory Interests in the Newfunds S&P Namibia Bond ETF25 Nov 2019
NFNAMB : Results of the Initial Offer for Participatory Interests in the Newfunds S&P Namibia Bond ETF: 
The Newfunds Collective Investment Scheme in Securities
Newfunds S&P Namibia Bond ETF
JSE code: NFNAMB
NSX code: NFNAMA
ISIN: ZAE000276770
("NF NAM 10 Bonds" or "the Portfolio")

A Portfolio under the NewFunds Collective Investment Scheme in Securities ("NewFunds")
registered as such in terms of the Collective Investment Schemes Control Act, 45 of
2002.

Results of the Initial Offer for Participatory interests in the Newfunds S&P
Namibia Bond ETF


1. Results of the Initial Offer

Further to the announcement released on SENS on Wednesday, 6 November 2019 and 18
November 2019 regarding the listing approval of the Portfolio and the timetable
applicable for the initial offer ("Offer") of the participatory interests, the
Manager hereby announces the results of the Offer.

The total subscription that was received in respect of the Offer amounts to
R194 867 360.99

*   Investors   who  undertook   in-specie  subscriptions   ("In-Specie   Investors")
    subscribed for R 94 034 860.99 worth of participatory units.

*   Investors who undertook cash subscriptions ("Cash Investors") subscribed for
    R100 832 500 worth of participatory units.

2. Listing of Newfunds S&P Namibia Bond ETF participatory interests (In-specie)

Newfunds S&P Namibia Bond ETF will issue participatory interests ("Listed
Participatory Interests") to In-Specie Investors after the close of business Monday
25 November 2019, and list on the Exchange Traded Funds sector of the main board of
the JSE Limited and the main board of the Namibia Stock Exchange (NSX)on Tuesday 26
November 2019. No letters of allotment will be issued to In-Specie Investors.

3. Issue of letters of allotment (Cash Investors)

One letter of allotment ("LA") will be issued for every Rand/NAD subscribed to the
subscriber's CSDP or broker account on Monday 25 November 2019, and the corresponding
Rand amount debited to the broker or CSDP account.

The conversion ratio in respect of the number of participatory units issued against
each LA will be published on Thursday 5 December 2019. The ratio of the
participatory interest will be determined after the closing ramp-up period as set
out in the Portfolio Supplement



25 November 2019

Corporate Adviser and JSE Sponsor
Vunani Corporate Finance

NSX Sponsor
Cirrus Securities (Proprietary) Limited

Date: 25-11-2019 12:45:00
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