Source - LSE Regulatory
RNS Number : 4211H
UBS ETFs
11 October 2024
 
 11 October 2024

Re:      UBS (Irl) ETF Plc (the "Company")

            MSCI ACWI Socially Responsible UCITS ETF;

MSCI World Small Cap Socially Responsible UCITS ETF (the "Funds")

 

Capitalised terms not otherwise defined in this letter have the meaning given to them in the prospectus of the Company dated 10 June 2024 and the supplements for the Funds, each dated 26 July 2024 (together, the "Prospectus").

 

Dear Shareholder

 

We are writing to notify you of the decision of the Board of Directors of the Company (the "Board"), in accordance with the powers provided to the Board in the Articles, to transfer shareholders in the "Original Share Class" of each of the Funds set out below into the "New Share Class" of each of the Funds as set out below:

 

MSCI ACWI Socially Responsible UCITS ETF

 

Original Share Class

New Share Class

Name

(hedged to JPY) A-acc

Name

(USD) A-acc

ISIN

IE00BF4NC698

ISIN

IE00BDR55471

Hedging Policy

Hedged - MSCI ACWI SRI Low Carbon Select 5% Issuer Capped with Developed Markets 100% Hedged to JPY Index (Net Return)

Hedging Policy

Unhedged - MSCI ACWI SRI Low Carbon Select 5% Issuer Capped Index (Net Return).

Dividend Policy

Accumulating

Dividend Policy

Accumulating

Flat Fee

up to 0.28% per annum of the Net Asset Value of the Class

Flat Fee

up to 0.25% per annum of the Net Asset Value of the Class

 

MSCI World Small Cap Socially Responsible UCITS ETF

 

Original Share Class

New Share Class

Name

(hedged to EUR) A-acc

Name

(USD) A-acc

ISIN

IE00BKSCC785

ISIN

IE00BKSCBX74

Hedging Policy

Hedged - MSCI World Small Cap SRI Low Carbon Select 5% Issuer Capped 100% hedged to EUR Index (Net Return)

Hedging Policy

Unhedged - MSCI World Small Cap SRI Low Carbon Select 5% Issuer Capped Index (Net Return).

Dividend Policy

Accumulating

Dividend Policy

Accumulating

Flat Fee

up to 0.26% per annum of the Net Asset Value of the Class

Flat Fee

up to 0.23% per annum of the Net Asset Value of the Class

 

 

 

The rationale for the transfer of the Original Share Classes is that the Net Asset Value of each of the Original Share Classes has fallen below a commercially viable minimum.

 

Transfer Process

 

Per the terms of the Prospectus, a transfer from each Original Share Class to the relevant New Share Class will be executed as a redemption from each Original Share Class and a subscription into the relevant New Share Class on or around 11 November 2024 (the "Transfer Date").

 

The number of shares in each New Share Class which the Shareholder will receive is calculated according to the following formula:

 

 

                   b* c * d

        a =  -------------

                        e

 

where:

α = number of shares of the Recommended Share Class

β = number of shares of the Closing Share Class

χ = Net Asset Value of the Closing Shares presented for conversion

δ = foreign exchange rate (note: as both Classes are valued in the same currency of account, this coefficient equals 1)

ε = Net Asset Value of the Recommended Share Class plus any taxes, commissions or other fees.

 

Any fees, taxes and stamp duties incurred in the individual countries for a conversion are charged to the Shareholders.

 

Timings

 

On the morning of 28 October 2024, the trading of each Original Share Class on the relevant stock exchanges will be suspended. Further information on such suspension will be published by the relevant stock exchanges.

 

Prior to the Transfer Date, shareholders in each Original Share Class who do not wish to transfer to the relevant New Share Class must request the redemption of their Original Shares prior to 4 November 2024, in the accordance with the terms and conditions of the Prospectus. Shareholders may also exchange their Original Shares into shares in another sub-fund of the Company, in accordance with the terms of the Prospectus and the Articles. Otherwise, all Original Shares will automatically transfer to the relevant New Share Class on the Transfer Date.

 

 

 

 

The Company will update the Prospectus to reflect the closure of the Original Share Classes in due course. Expenses relating to the termination of the Original Share Classes will be borne by the relevant Fund.

 

If you have any queries in relation to the above please contact ol-etf-pfm@ubs.com.

 

 

Yours sincerely,

 

 

_______________________

Director

for and on behalf of

UBS (Irl) ETF Plc

 

 

_______________________

Director

for and on behalf of

UBS (Irl) ETF Plc

 

 

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