8th Dec 2008 11:38
ETFS Commodity Securities Limited
8 December 2008
ETFS COMMODITY SECURITIES LIMITED
Notice regarding ETFS Leveraged Gasoline Individual Securities
Further to the announcements made by ETFS Commodity Securities Limited (the "Issuer") on 17 October 2008, 5 November 2008, 24 November 2008 and 1 December 2008, the Price of ETFS Leveraged Gasoline Individual Securities ("LGAS") has fallen below the Principal Amount of US$5.00 to US$4.49 (as at 5th December 2008). The right to Redeem such securities under Condition 7.1(a) (Settlement Pricing) has therefore been suspended under Condition 7.18 until further notice. To enable normal Redemptions to continue all Redemptions under Agreed Pricing for LGAS will, unless otherwise agreed, be based on the settlement price of the Relevant Contract and the pricing formula as stated in the Prospectus. This will allow the creation and redemption of the Securities to continue unaffected. Accordingly the Issuer does not expect any disruption to trading in LGAS.
As stated in the announcement made on 24 November 2008, meetings of the Security Holders of all classes of ETFS Leveraged Commodity Securities have been convened and such meetings were adjourned through lack of a quorum to Wednesday 10 December 2008. Subject to passing of the Extraordinary Resolutions to be proposed at such meetings and execution of a supplemental trust instrument as provided for in such resolutions to reduce the Principal Amount of the ETFS Leveraged Commodity Securities of each class, the Issuer intends to terminate the suspension of Redemption by Settlement Pricing.
Similar notices announcing the suspension of Redemption by Settlement Pricing for ETFS Leveraged Nickel Individual Securities LNIK and ETFS Leveraged Lead Individual Securities LLEA were released on 17 October 2008 and 1 December 2008, respectively, and such suspensions will continue to remain until further notice.
The Security Holders of other Commodity Securities including Classic Commodity Securities, Forward Commodity Securities, and Short Commodity Securities are not affected by the foregoing.
A further announcement will be made in due course.
For further information, please contact
Christopher Osgood,
Computershare Investor Services (Channel Islands) Limited
Tel: +44 (0) 1534 825282
Fax: +44 (0) 1534 825335
E-mail address: [email protected]
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