Consolidations of the Classic and Longer Dated Commodity Securities of the following classes
WisdomTree Coffee (ISIN: GB00B15KXP72)
WisdomTree Corn (ISIN: GB00B15KXS04)
WisdomTree Lean Hogs (ISIN: GB00B15KXZ70)
WisdomTree Natural Gas (ISIN: GB00B15KY104)
WisdomTree Wheat (ISIN: GB00B15KY765)
Terms used in this announcement and not otherwise defined bear the same meanings as where used in the prospectus of the Issuer dated 27 October 2023 for the programme for the issuance of Classic and Longer Dated Commodity Securities.
WisdomTree Commodity Securities Limited (the "Issuer") announces that pursuant to Condition 20.4, it will be effecting consolidations (the "Consolidations") of the following classes of Classic and Longer Dated Commodity Securities (together the "Affected Securities"):
Class
Existing ISIN (Last Trading Date of Existing ISIN: 1 December 2023)
New ISIN (First Trading Date of New ISIN: 4 December 2023)
Ratio (in words)
Ratio (in numbers)
WisdomTree Coffee
GB00B15KXP72
JE00BN7KB557
Twenty Three
23
WisdomTree Corn
GB00B15KXS04
JE00BN7KB441
Twenty Two
22
WisdomTree Lean Hogs
GB00B15KXZ70
JE00BN7KB771
Seventy Five
75
WisdomTree Natural Gas
GB00B15KY104
JE00BN7KB334
One Thousand Seven Hundred and Eighty-Three
1783
WisdomTree Wheat
GB00B15KY765
JE00BN7KB664
Forty Six
46
The Consolidations will result in a change of ISINs for the Affected Securities.
The Consolidations will be applied to all registered holders of the Affected Securities on the relevant Register after the close of business on Friday 1 December 2023 (the "Record Date"). This will be the last trading day of the Affected Securities under their old ISINs.
Trading of the consolidated Affected Securities under their new ISINs will begin on European stock exchanges on Monday 4 December 2023.
Impact on Investors
Holders of an Affected Security who have purchased that Affected Security up to and including on the Record Date will be impacted by the Consolidations.
After the close of business on the Record Date, each ratio number, as set out in the table above, of Affected Securities held by a holder will be consolidated into one consolidated Affected Security. For example, every 1783 Affected Securities of WisdomTree Natural Gas will be consolidated into one consolidated Affected Security.
The Principal Amount and the NAV of the Affected Securities on the Record Date will be multiplied by the ratio number to determine the respective consolidation adjusted value of the consolidated Affected Securities.
Redemption of Fractional Securities
As a result of the Consolidations, a registered holder could potentially become entitled to a fraction of a consolidated Affected Security. However, fractions cannot be traded on the exchanges to which the Affected Securities are admitted to trading. Where a registered holder who is named in the relevant Register maintained by the Registrar becomes entitled to a fraction of a consolidated Affected Security, the Issuer will redeem such fraction of that security.
The cash amount due on any fractions will be determined on the Record Date, based on the NAV of the consolidated Affected Securities on such date and is expected to be paid to registered holders within 14 days of the date on which the consolidated Affected Securities begin trading.
Please note that the Issuer will only make payments to holders of the Affected Securities who are named in the relevant Register maintained by the Registrar as at the close of business on the Record Date. In respect of Affected Securities held through a broker, custodian or other intermediary, please contact that intermediary for information as to how the Consolidations will be recorded in their books and records and their treatment of any fractions.
Impact on Security Identifiers
Although no new securities are being issued, following the Consolidations, new ISINs, SEDOLs and WKNs will be issued in respect of the consolidated Affected Securities of each class.
Exchange codes and tickers are expected to remain unchanged.
Legal Basis
The Issuer is permitted to effect the Consolidations pursuant to Condition 20.4 of the Affected Securities as set out in the Prospectus of the Issuer.
The Consolidations will be implemented pursuant to a Supplemental Trust Deed dated 27 October 2023 made between the Trustee and the Issuer.
Rebasing of the Bloomberg Natural Gas Subindex Total Return index and Bloomberg Natural Gas Subindex Excess Return index (the "Index")
The Issuer refers to a separate notice it has issued on or about the date hereof titled 'Amendments to the Conditions of the Classic and Longer Dated Commodity Securities' (the "Additional Notice"). Terms not defined herein or in the prospectus of the Issuer, shall have the meaning ascribed to them in the Additional Notice.
Pursuant to the Additional Notice, the Issuer has notified holders that Bloomberg will be undertaking a Rebasing of the Index, on or around 4 December 2023. The Rebasing will impact WisdomTree Natural Gas; however, please note that the Rebasing to be undertaken by Bloomberg is not related to the Consolidations being effected by the Issuer.
Further information on the Rebasing is set out in the Additional Notice.
Further information
This announcement contains information only and does not require any action to be taken.
For further information, please refer to the Consolidations FAQ available on our website at www.wisdomtree.eu/en-gb/about-wisdomtree/important-notices or contact europesupport@wisdomtree.com or contact your broker, custodian or other intermediary.
© 2023 PR Newswire
