SENS

ETFSWX : Update on consolidation of participatory interests in the 1NVEST SWIX 40 ETF:

1nvest SWIX 40 ETF ("ETFSWX40") (being a portfolio under the STANLIB ETF Collective Investment

Scheme registered in the Republic of South Africa in terms of Collective Investment Schemes Control

Act, 45 of 2002 ("CISCA")

Share Code: ETFSWX

Abbreviated Name: ETFSWX40

ISIN: ZAE000279220

("ETFSWX40")

UPDATE ON CONSOLIDATION OF PARTICIPATORY INTERESTS IN THE 1NVEST SWIX 40 ETF

1. Introduction

Please refer to the previous announcement. Holders of 1NVEST SWIX 40 ETF participatory

interests ("security") are advised that the JSE Limited ("JSE") has approved an application by the

manager of the STANLIB ETF Collective Investment Scheme ("the Manager") to proceed with a

consolidation of Securities in ETFSWX40 ("the Consolidation").

In terms of the Consolidation, the Manager will reduce the number of securities that an investor

holds and accordingly increase the value of each security. The portfolio value of each investor will

therefore remain unchanged.

2. Effective date

The effective date of the Consolidation is 30 October 2024.

3. Rationale for the Consolidation

Effective 01 September 2022, the Fund received regulatory approval to change its benchmark

tracked from the FTSE/JSE Shareholder Weighted Top 40 Index to the FTSE/JSE Capped

Shareholder Weighted 40 ("the Index").

This change has resulted in the price level of the Fund being significantly different to the price level

of the Index. Although the difference in price levels, the fund is performing in line with the index

however the price levels difference creates a perception that the Fund is not performing in line with

its benchmark.

To this effect, the Manager will conduct a unit consolidation by reducing the number of units that an

investor holds and increasing the value of each unit accordingly of the Security which will align to

Index level.

4. Implications for the Consolidation

The Security previously tracked the FTSE/JSE Shareholder Weighted Top 40 Index, which trades

at a level of ~14,170. The Fund traded at 1/1000th the index, therefore implying a price per unit of

R14.70. The new benchmark being the FTSE/JSE Capped Shareholder Weighted 40, trades at a

level of ~22,126, the implied unit price of the Fund will be R22.12. The total value of Security

holders' investment will remain unchanged.

Item Detail

1. Will investors investment be impacted? 1. There will be not impact as units

will be reduced while increasing

the price of the security however

the value of investments will

remain the same.

2. Will investors be able to compare to independent 2. Yes, the change management

pricing sources? will include informing

pricing/performance vendors to

ensure changes are implemented

effectively.

3. Will there be an impact on TCF Outcomes 3. There will be no impact on

1nvest adherence to TCF

Outcomes however with the

alignment between the Fund and

the Index, there will be an

enhancement in terms of TCF

Outcome 5 -"Clients are provided

with products that perform as they

have been led to expect, and the

associated service is both of an

acceptable standard and as per

expectations set."

The Consolidation will bring the NAV of each unit in line with the underlying index that it represents.

5. Details of the Consolidations

ETFSWX40 currently has 280,273,432. It is anticipated that the Consolidation will be performed on

a 0.63192:1 basis and as such, the number of Securities issued pursuant to the Consolidations will

be reduced to 177,110,387. There will be fractional entitlements whereby holdings with fractions

are rounded down to a whole number and the value of the fraction will be paid out.

6. Salient dates pertaining to the Consolidations

2024

Last date to trade in respect of the Consolidation Tuesday, 29 October

Consolidated Security begins trading under the new ISIN ZAE000339206 with

effect from commencement of business

Wednesday, 30 October

Announcement released on SENS in respect of the cash payment applicable Thursday, 31 October

to fractional entitlements by 11:00

Friday, 01 November

Record date in respect of the Consolidation

Accounts of dematerialised holders will have their Consolidated Security Monday, 04 November

updated

In addition to JSE's approval, the Manager has also received approval from the Financial Sector

Conduct Authority for the Consolidation.

Johannesburg

30 October 2024

Sponsor

The Standard Bank of South Africa Limited

Date: 30-10-2024 05:50:00

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