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Invesco Markets plc
Ground Floor, 2 Cumberland Place, Fenian Street,
Dublin 2, Ireland
Telephone +353 1 439 8000 www.invesco.com
IMPORTANT: This document is important and requires your
immediate attention. If you are in any doubt as to the action you
should take you should seek advice from your stockbroker, bank
manager, solicitor, accountant or other independent financial
adviser.
If
you have sold or transferred all of your shares in the fund (as
defined below), please pass this document at once to the purchaser
or transferee or to the stockbroker, bank or other agent through
whom the sale or transfer was effected for transmission to the
purchaser or transferee as soon as possible.
Capitalised terms used herein shall bear the same meaning as
capitalised terms used in the Prospectus and Supplement dated 28
May 2024. Copies of the Prospectus are available upon request
during normal business hours from the registered office of the
Company or from the local representative of the Company in each
jurisdiction in which the sub-funds of the Company are registered
for public distribution.
In
accordance with the current policy of the Central Bank, this
document has not been reviewed by the Central
Bank.
4 October 2024
Invesco Markets plc (the "Company")
|
Fund
|
ISIN
|
|
Invesco Commodity Composite UCITS ETF
|
IE00B4TXPP71
|
(the "Fund")
Dear Shareholder,
We are writing to you as a Shareholder in the Fund to
inform you that the board of directors (the "Board") has, with regret, determined
that, pursuant to Clause 10 Appendix II of the Constitution of the
Company (the "Constitution"), it is in the best
interests of the Shareholders to terminate the Fund with effect
from 20th November
2024 (the "Termination
Date").
The decision of the Board to terminate the Fund is
based on the advice of the promoter and investment manager that the
continued existence and operation of the Fund is not economically
viable.
Therefore, in accordance with the above provisions of
the Constitution and the Prospectus, we hereby give notice of our
intention, as the Board to:
i)
cancel the listing of the Fund and the right of
the Fund to be traded on any relevant stock exchanges with effect
from close of business on 18
November 2024;
ii)
terminate the Fund with effect from 20 November 2024; and
iii)
to proceed with the compulsory repurchase of all
outstanding shares of the Fund.
Directors: Gary Buxton (British/Irish), Feargal
Dempsey, Deirdre
Gormley, Sarah (Katy
Walton) Jones (British), Lisa
Martensson (Swedish)
Invesco Markets plc, registered in
Ireland as an
open-ended variable capital umbrella investment
company with
limited liability
and segregated liability between sub-funds.
Registration number: 463397.
Registered office: Ground
Floor, 2 Cumberland Place,
Fenian Street, Dublin 2, Ireland
PROPOSED TIMETABLE
|
Key
Dates
|
Event
|
|
18
November 2024 (Monday)
|
Final Exchange Trading Date
|
|
19
November 2024(Tuesday)
|
Final Dealing Date (Voluntary Create/Redeem)
|
|
20
November 2024 (Wednesday)*
|
Mandatory Redemption Trade Date (and Termination
Date)
|
|
27
November 2024 (Wednesday)
|
Redemption Settlement Date
|
*On
the Termination Date if there is a Market Disruption Event which
impacts the calculation of the final NAV, the final amount paid
will be determined in accordance with the actual close-out amount
(calculated in accordance with the terms of the Swaps and market
timing for sale of the T-Bills) in accordance with the Prospectus.
Where there is a delay in payment due to a Market Disruption Event,
a further shareholder notice will be issued to provide an update on
timing of payments.
ADDITIONAL INFORMATION
Requests for repurchase or subscription for shares in
the Fund may be made in the usual manner in accordance with the
Prospectus and supplements for the Fund (the "Supplement") until 19 November 2024.
The following terms and conditions of such compulsory
repurchase shall apply as of the Termination Date:
1.
the Fund shall be terminated and the repurchase
price for each Class of shares of the Fund will be determined by
reference to the Net Asset Value of the respective Class of shares
of the Fund as of the Termination Date. The costs in relation to
the termination will be borne by the Manager;
2.
no repurchase charge will be applied;
3.
the repurchase proceeds will be paid in the
relevant share class currency;
4.
the payment of the repurchase proceeds resulting
from the compulsory repurchase will take place on or around
27 November 2024;
and
5.
following the payment of the repurchase proceeds
in respect of the Fund, application will be made to the Central
Bank of Ireland for the withdrawal of approval of the
Fund.
Shareholders who subscribe or repurchase shares in
the Fund on the primary market are entitled to repurchase their
shares in the Fund in accordance with the Prospectus. Please note
that the Company does not charge any repurchase fee for the sale of
shares in the secondary market. Orders to sell shares through a
stock exchange can be placed via an authorised intermediary or
stockbroker. However, Shareholders should note that orders in the
secondary market may incur costs over which the Company has no
control and to which the above disapplication of the repurchase
charge does not apply.
Shareholders may obtain the Prospectus, a copy of the
Supplement, the key investor information documents, the latest
annual and semi-annual reports and copies of the Constitution free
of charge from the registered office of the Manager or the local
representatives in the countries where the Company is registered
and in Switzerland at BNP Paribas Securities Services, Paris,
succursale de Zurich, Selnaustrasse 16, 8002 Zurich which is the
Swiss representative and paying agent, as well as from the German
information agent Marcard, Stein & Co AG, Ballindamm 36, 20095
Hamburg, Germany and where applicable on the website of the Company
- etf.invesco.com.
Shareholders should consult their own professional
advisers as to the specific tax implications of the termination
under the laws of the countries of their nationality, residence,
domicile or incorporation.
If you have any queries arising from this notice,
please call Invesco on +353 1 439 8000 or contact us at
invest@invesco.com.
Yours sincerely
For and on behalf of Invesco Markets plc
Name: Feargal Dempsey Title: Director
Date: 04/10/2024