SCHEME OF
ARRANGEMENT
RNS ANNOUNCEMENT
Invesco Markets III plc
17 December 2018
RNS ANNOUNCEMENT
Invesco Markets III public limited
company (the “Company”) - Announcement of Effective Date in
relation to a Scheme of Arrangement to change the share settlement
structure of the Company to centralise the settlement of shares of
the Company within an International Central Securities Depositary
(“ICSD”) model
17 December 2018
The scheme of arrangement (the “Scheme”), as described in
the circular issued to shareholders of the Company dated
19 October 2018, has been approved by
the High Court of Ireland. The
Scheme is scheduled to become effective at 00.01 a.m. on Monday 28
January 2019 (the “Effective Date”).
Currently none of the sub-funds of the Company (the
“Sub-Funds”) use the ICSD model. Accordingly, all Sub-Funds,
as listed below, will convert to the ICSD model on the Effective
Date (the “Converting Sub-Funds”).
| Converting Sub-Funds |
IE ISIN |
| Invesco Dynamic US
Markets UCITS ETF |
IE00B23D9240 |
| Invesco EQQQ NASDAQ-100
UCITS ETF |
IE00BFZXGZ54*
IE00BYVTMT69* IE0032077012
IE00BYVTMS52* IE00BYVTMW98 |
| Invesco EuroMTS Cash 3
Months UCITS ETF |
IE00B3BPCH51* |
| Invesco EURO STOXX High
Dividend Low Volatility UCITS ETF |
IE00BZ4BMM98 |
| Invesco FTSE UK High
Dividend Low Volatility UCITS ETF |
IE00BYYXBD20 |
| Invesco FTSE Emerging
Markets High Dividend Low Volatility UCITS ETF |
IE00BYYXBF44 |
| Invesco FTSE RAFI All-World 3000
UCITS ETF |
IE00B23LNQ02 |
| Invesco FTSE RAFI
Emerging Markets UCITS ETF |
IE00B23D9570 |
| Invesco FTSE RAFI
Europe Mid-Small UCITS ETF |
IE00B23D8Y98 |
Invesco FTSE RAFI
Europe UCITS ETF
|
IE00B23D8X81 |
Invesco FTSE RAFI UK
100 UCITS ETF
|
IE00B23LNN70 |
| Invesco FTSE RAFI US
1000 UCITS ETF |
IE00B23D8S39 |
| Invesco Global Buyback
Achievers UCITS ETF |
IE00BLSNMW37 |
| Invesco S&P 500
High Dividend Low Volatility UCITS ETF |
IE00BYVTMX06*
IE00BWTN6Y99 |
| Invesco S&P 500
VEQTOR UCITS ETF |
IE00BX8ZXS68 |
| Invesco S&P 500 QVM
UCITS ETF |
IE00BDZCKK11 |
| Invesco US High Yield
Fallen Angels UCITS ETF |
IE00BYVTMY13*
IE00BD0Q9673 IE00BYVTMZ20 IE00BYVTN047* |
*share class not listed in London
Impact of the Scheme on Holdings at
Each Local Central Securities Depositary (“CSD”)
The table below shows the anticipated effects of the Scheme
where there are direct holdings at local CSDs.
Note: it is possible that some CSDs
hold shares indirectly through their accounts at other CSDs
|
Current Local CSDs |
Impact of the Scheme
on the Effective Date |
| Euroclear UK &
Ireland (“CREST”) |
Domestic shares will be
exchanged for international shares (with the same IE ISIN) on a 1:1
basis via CREST’s account at Euroclear Bank (“EB”). Account
holders in CREST will receive Crest Depositary Interests in
CREST. |
Clearstream Bank
Frankfurt
(“CBF”) |
Investors who held
their shares in CBF in their ‘Cascade’ accounts as of close of
business on Friday 25 January 2019, will receive international
shares at Clearstream Banking S.A.,Luxembourg (“CBL”) in their
6-series ‘Creation’ accounts on Monday 28 January 2019. These
international shares will have the same IE ISIN. The IE ISINs will
leave German collective safe custody
(“Girosammelverwahrung”) as at the close of business on
Friday 25 January 2019. As of Monday 28 January 2019, the
international shares will be settled under the Foreign Securities
Depository model, also known as “Wertpapierrechnung”.
|
| Euroclear
Netherlands |
Domestic shares will be exchanged
for international shares (with the same IE ISIN) on a 1:1 basis.
Holdings in Euroclear Netherlands will be in Euroclear Netherlands’
account at EB. |
| SIX Securities Services (“SIS”) |
Domestic shares will be
exchanged for international shares (with the same IE ISINS) on a
1:1 basis. Holdings in SIS will be in SIS’ account at either
EB or CBL (as SIS’s discretion). |
| Euroclear France |
Domestic Shares will be exchanged
for international shares (with the same IE ISIN) on a 1:1
basis. Holdings in Euroclear France will be in Euroclear
France’s sub-account at EB. |
Monte Titoli*
*trading of the shares of the subfunds on Borsa Italian Secondary
Market will continue to be regulated through Monte Titoli, which
adheres to the ICSD System. No changes for the final
investors trading the shares on the secondary market in Italy |
Domestic shares will be
exchanged for international shares (with the same IE ISIN) on a 1:1
basis. Holdings in Monte Titoli will be in Monte Titoli’s
account at either CBL or EB (at Monte Titoli’s discretion).
|
Further guidance on the implementation and expected changes will
be published on www.etf.invesco.com.
Further Enquiries
Please contact legaletf@invesco.com