OSSIAM LUX

 

Société d’investissement à capital variable

Registered office: 49 Avenue J.F. Kennedy, L-1855 Luxembourg - Grand Duchy of Luxembourg RCS Number B. 160 071

(the “Company”)

 

Luxembourg, May 16th 2022,

 

Dear Shareholders,

 

We would like to inform you that the board of directors of the Company (the “Board”) has resolved, in accordance with article 24 of the articles of incorporation of the Company, to liquidate the following sub- fund :

 

Name of the sub-fund	Shareclass	ISIN
Ossiam Emerging Markets ESG Low Carbon	UCITS ETF 1C (EUR)	LU0705291903
	UCITS ETF 1C (USD)	LU0705291812

(the “Sub-Fund”).

 

The Sub-Fund has demonstrated small levels of demand and assets under management, while focusing on key areas of growth with the intention of bringing the sub-funds of the Company in line with current and future investor demand for better serving the needs of shareholders.

 

The liquidation of the Sub-Fund will take place on June, 22nd 2022 (the “Liquidation Date”).

 

1.       Primary markets

 

Redemption or subscription requests for shares in the Sub-Fund (the “Shares”) may be made in the usual manner for processing in accordance with the prospectus of the Company (the “Prospectus”) prior to the last trading date on the primary markets (the “Last Trading Date”). Only shareholders who qualify as autorised participants may subscribe and redeem Shares on the primary market.

 

The Last Trading Date on the primary market will take place on June 15th, 2022. From the day after the Last Trading Date to the Liquidation Date, no further subscriptions and redemptions will be accepted.

 

Such redemptions will be free of redemption charge up to the Last Trading Date but taking into account actual realization prices of investments and realization expenses.

 

Following the liquidation of the Sub-Fund, the liquidation proceeds will be distributed to the remaining shareholders proportionnally to the number of Shares held by each shareholder prior to the liquidation.

 

2.       Secondary markets

 

Due to the liquidation of the Sub-Fund, the Board has resolved to cancel the listing of the share class UCITS ETF 1C(EUR) and UCITS ETF 1C (USD) of the Sub-Fund on the following Stock Exchanges on June 10th, 2022 (the “Last Exchange Trading Date”) in accordance with the terms and conditions of the Prospectus.

 

The Board has also resolved to cancel the right of the Sub-Fund to be traded on the following Stock Exchanges with effect as of the business day following the “Last Exchange Trading Date” (the “Delisting Date”):

Sub-Fund	Shareclass	ISIN	Stock Exchanges	Last Exchange Trading Date	Delisting Date
	UCITS ETF 1C (EUR)	LU0705291903	Frankfurt Stock Exchange, Deutsche Börse   SIX Swiss Exchange
Ossiam Emerging Markets ESG Low Carbon			Borsa Italiana	June 10th, 2022	June 13th, 2022
			Luxembourg Stock Exchange
	UCITS ETF 1C (USD)	LU0705291812	London Stock Exchange
			SIX Swiss Exchange

 

Please note that the Company does not charge any redemption charge (the “Redemption Charge”) for the sale of Shares in the secondary market. 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 Redemption Charge does not apply.

 

3.       Tax

 

Shareholders of the Sub-Fund should be aware that the liquidation, redemption or exchange of Shares may have tax consequences. 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 any of the above is not clear you should seek advice from your stockbroker, bank manager, legal adviser, accountant or other independent financial advisor.

 

4.       General information

 

Please note that four (4) Russian stocks are currently illiquid assets in the Sub-Fund’s portfolio, due to the invasion of Ukraine and the decision by the Russian state to forbid transactions by foreigners on Russian listed stocks. OSSIAM, as management company of the Sub-Fund, has decided to implement a fair value process and value the four (4) Russian stocks at zero (0) for the foreseeable future. The Russian stocks above-mentioned will be liquidated pursuant to the standard liquidation process as soon as transactions by foreigners on Russian listed stocks are no longer forbidden.

 

Please note that no specific action is expected from you in this respect. Liquidation proceeds which may not be distributed to their beneficiaries upon the implementation of the redemption will be deposited with the Caisse de Consignation (the Luxembourg public trust office) on behalf of the persons entitled thereto as soon as possible after the payment date. Should you require further information as to the action you should take with respect to the retrieval of funds from the Caisse de Consignation, please contact your final advisor.

 

From the date of this letter up to and including the Liquidation Date (the “Liquidation Period”), OSSIAM will seek to continue to manage the Fund in accordance with its investment objective and policy and in accordance with the UCITS rules as they apply in Luxembourg. However, in seeking to terminate the Fund in shareholders’ best interests the Fund may not always be compliant with its investment objective and policy or with the UCITS rules during the Liquidation Period.

Shareholders are also informed that the next Prospectus will take into account the liquidation of the Sub- Fund.

 

Shareholders are informed that, by derogation of the provisions contained in the Prospectus in the Chapter entitled “Charges and Expenses”, the liquidation expenses shall not be borne by the shareholders of the Sub-Fund but will be borne by OSSIAM, acting as management company of the Company.

 

Any further information in relation to the termination of the Sub-Fund may be obtained by sending an email to info@ossiam.com.

 

Yours faithfully,

 

The Board of directors of Ossiam Lux