17th Apr 2020 14:28
WisdomTree Commodity Securities Limited
LEI: 21380068Q1JSIAN4FO63
17 April 2020
WisdomTree Commodity Securities Limited
Short and Leveraged Commodity Securities
WisdomTree Petroleum 2x Daily Leveraged (ISIN: JE00BDD9Q733) and WisdomTree WTI Crude Oil 2x Daily Leveraged (ISIN: JE00BDD9Q840) (the "Affected Securities")
Suspension of the right to Redeem by Settlement Pricing
WisdomTree Commodity Securities Limited (the "Issuer") gives notice of the following:
The Price for each Affected Security determined in accordance with Condition 5 of the Conditions of the Short and Leveraged Commodity Securities are less than their Principal Amounts.
The Issuer has determined pursuant to Condition 7.18 of the Conditions of the Short and Leveraged Commodity Securities to suspend the right to Redeem the Affected Securities pursuant to Condition 7.1(a) (Settlement Pricing) from 17 April 2020. The right to Redeem the Affected Securities pursuant to Condition 7.1(b) (Agreed Pricing) remains unaffected and such redemptions will continue normally.
Such suspension may continue in the discretion of the Issuer for a period of up to 30 days, and may continue thereafter provided that notice of a meeting has been issued convening a meeting for a date not more than 30 days after the date of the notice for the purpose of considering an Extraordinary Resolution which will have the effect of reducing the Principal Amount to a level less than the Price.
To enable normal Redemptions to continue, all Redemptions under Agreed Pricing will, unless otherwise agreed at the time, be based on the settlement price of the relevant sub-index of the Bloomberg Commodity IndexSM and the pricing formula as stated in the Prospectus. This will allow the creation and redemption of the Affected Securities to continue unaffected. This procedure has been designed to ensure that all holders of Affected Securities who are able to redeem Affected Securities can each continue to receive a price for their Affected Securities based on the relevant sub-index of the Bloomberg Commodity IndexSM. Accordingly the Issuer does not currently expect any disruption to trading in the Affected Securities.
A further announcement giving notice of the meetings will be made in due course.
Terms used in this announcement and not otherwise defined bear the same meanings as where used in the prospectus of the Issuer dated 24 May 2019.
For further information, please contact:
WisdomTree
E-mail address: [email protected]
Related Shares:
Wt Agriculture