Xtrackers
Investment Company with Variable Capital
Registered office: 49, avenue J.F. Kennedy, L-1855
Luxembourg,
R.C.S. Luxembourg B-119.899
(the "Company")
Important Notice to Shareholders of
Xtrackers MSCI Russia Capped Swap UCITS ETF (ISIN:
LU0322252502)
(the "Sub-Fund")
2 December 2022
We refer to the Sub-Fund which aims to reflect the performance
of the MSCI Russia Issuers Capped 25% Index (the "Reference Index")
which is designed to reflect the performance of the shares of
certain companies in Russia. The companies making up the Reference
Index are large and medium sized companies. The Sub-Fund is
passively managed in accordance with an Indirect Investment Policy
and invests in transferable securities and enters into
derivative(s) relating to the transferable securities and the
Reference Index, in order to obtain the return on the Reference
Index.
We refer to the shareholder notice dated 01 March 2022, which
informed Shareholders of the Sub-Fund that the board of directors
of the Company (the "Board of Directors") had decided, in
accordance with article 22 of the articles of incorporation of the
Company and the applicable provisions of the current prospectus of
the Company, to suspend the determination of the official Net Asset
Value (the "NAV") and the issue and redemption of Shares as well as
the right to convert Shares of the Sub-Fund until further notice
and as from the Transaction Day on 28 February 2022.
The abovementioned decisions were taken by the Board of
Directors in response to the situation between Russia and Ukraine,
which has, in the opinion of the Board of Directors, rendered
impracticable, the disposal or valuation of the assets attributable
to the Sub-Fund.
The Index Administrator has recently advised that the Reference
Index will be discontinued as of 01 March 2023. In addition, the
current derivative(s) invested in by the Sub-Fund are due to expire
and the Sub-Fund will not be able to renew these derivative(s) due
to applicable sanctions legislation. The Sub-Fund will therefore be
unable to continue its exposure to the Reference Index and hence
will no longer be able to pursue its investment objective which is
to reflect the performance of the Reference Index.
Consequently, the Board of Directors has decided, in the best
interest of the Shareholders, to terminate the Sub-Fund and to
proceed with the compulsory redemption of all outstanding Shares of
the Sub-Fund in accordance with the applicable provisions of the
Articles of Incorporation and the Prospectus with a last
calculation as of 16 December 2022 or at a date as soon as possible
thereafter (the "Termination"). The Sub-Fund will terminate with
effect from 19 December 2022 (the "Termination Date").
For the avoidance of doubt and in accordance with the
shareholder notices previously issued, the determination of the
official Net Asset Value of the Sub-Fund, as well as redemptions,
subscriptions in, or conversions into, the Sub-Fund will continue
to be suspended until the Termination. Trading on all relevant
stock exchanges (Deutsche Börse XETRA, Borsa Italiana and London
Stock Exchange) also remains suspended. The Sub-Fund is listed on
the United Kingdom Listing Authority's Official List and as a
result of the Termination, the Sub-Fund will be de-listed from the
Official List with effect from 8:00 a.m. on 20 December 2022.
The following terms and conditions of the compulsory redemption
have been determined in accordance with article 21 of the Articles
of Incorporation and shall apply as of the Termination Date:
1. The Sub-Fund shall be liquidated and the investments and
liabilities of the Sub-Fund realised taking into account, amongst
other expenses, all costs resulting from the realisation and
liquidation of the investments of the Sub-Fund (the "Redemption
Proceeds");
2. No Redemption Charges or fees relating to the liquidation
will be applied;
3. The Redemption Proceeds, if any will be paid in the relevant
Reference Currency to the clearing agent. It is anticipated that
due to the current valuation of the Reference Index the Redemption
Proceeds will be zero or close to zero;
4. The payment of the Redemption Proceeds, if any, to the
registered Shareholders and the clearing agents, resulting from the
compulsory redemption, will take place at the latest 10 Luxembourg
Business Days after the Termination Date (the "Payment Date"). It
should be noted that payment of the Redemption Proceeds to
Shareholders who hold Shares via intermediaries may take longer
than 10 Luxembourg Business Days;
5. The Redemption Proceeds relating to Shares for which payment
to Shareholders could not be made, will be deposited with the
Caisse de Consignation in Luxembourg on behalf of the persons
entitled thereto as soon as possible after the Payment Date and in
any event before the closure of the liquidation procedure.
Further information in relation to the Termination may be
obtained from the legal entities mentioned under Contact
information below, the offices of foreign representatives or by
sending an email to Xtrackers@dws.com .
All Shareholders are strongly advised to consult their tax
advisor to assess: (1) the impact of the Termination and any
potential tax consequences thereof; and (2) any potential changes
between the current and/or future taxation of their investment
under the laws of the countries of their nationality, residence,
domicile or incorporation.
Capitalised terms not defined herein shall have the meaning
given to them in the Prospectus of the Company unless the context
otherwise requires.
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.
Xtrackers
The Board of Directors
Contact Information
Xtrackers
49, avenue J.F. Kennedy, L-1855 Luxembourg, Grand Duchy of
Luxembourg
DWS Investment S.A.
2, boulevard Konrad-Adenauer, L-1115 Luxembourg, Grand Duchy of
Luxembourg
View source version on businesswire.com:
https://www.businesswire.com/news/home/20221202005023/en/
CONTACT:
Xtrackers
SOURCE: Xtrackers
Copyright Business Wire 2022
(END) Dow Jones Newswires
December 02, 2022 04:00 ET (09:00 GMT)
Xrussiacp Sw 1c (LSE:XMRC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Xrussiacp Sw 1c (LSE:XMRC)
Historical Stock Chart
From Jul 2023 to Jul 2024