SSGA SPDR ETFs Europe I plc - Fund Closures

RNS ANNOUCEMENT

Date: 19 May 2020

SSGA SPDR ETFs Europe I plc (the "Company")

FUND CLOSURES

SPDR Bloomberg Barclays 7-10 Year Euro Government Bond UCITS ETF

SPDR ICE BofAML Emerging Markets Corporate Bond UCITS ETF

SPDR Bloomberg Barclays U.S. Corporate Bond UCITS ETF (the "Funds")

We hereby provide notice that on 13 May 2020 the board of Directors of the Company have resolved to close the Funds and consequently delist all their share classes, as per the table below, on 19 June 2020 or any such date as may be determined by the Board and notified in advance to you (the "Effective Date").   

The Board took this decision in accordance with the articles of association of the Company because the Net Asset Value of each Fund is currently less than the minimum amount specified in the Prospectus (section "Compulsory Redemptions of Shares", point (d)): the Board do not believe that it will increase materially in the near future and the Funds are uneconomic to operate. The Board are of the opinion that the proposed terminations are in the best interests of the Funds' Shareholders. 

If you have sold or transferred all of your shares in the Funds, please pass this document at once 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.

On the primary market, Shareholders are entitled to redeem their holdings in the Funds at the applicable Net Asset Value on any relevant Business Day up to (but excluding) the Effective Date, in accordance with the provisions of the Prospectus and subject to compliance with the usual dealing cut off times. Secondary market investors may sell their Shares on all the relevant stock exchanges at market price up to the last trading date (included). No exit/redemption fees apply when selling your Shares on the secondary market, however, brokerage commissions and fees may be applied by market intermediaries. The last trading date is 18 June 2020.

Next Steps

If you do not redeem your Shares before the Effective Date, your Shares will be redeemed at the applicable Net Asset Value per Share (taking into account actual realisation prices and realisation expenses) on the Effective Date, free of any redemption charge.  The Funds will hold an increasing amount of cash and liquid instruments in advance of the Effective Date. Once this liquidation commences the Funds may no longer be able to meet their investment objectives as detailed in the relevant Fund supplement and the expected tracking error will increase.

No Shareholder meeting or vote is necessary in connection with these matters and therefore no action is required by you.

It should be noted that these terminations apply to the stated Funds only and does not affect shareholdings in any other sub-funds of the Company.

Investors in the Funds are advised to consult their tax advisers regarding the effect of, if any, the termination in light of their individual circumstances. Should you have any queries, please contact the SPDR ETF Sales and Support team at [email protected] / +44 (0)20 3395 6888 or call your local SPDR ETF representative.