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Shareholder Notification

RNS Announcement

RNS Number : 4275S

WisdomTree Issuer ICAV

08 July 2020

NOTICE OF

COMPULSORY REDEMPTIONS

WISDOMTREE CBOE S&P 500 PUTWRITE UCITS ETF

WISDOMTREE EMERGING ASIA EQUITY INCOME UCITS ETF

WISDOMTREE GERMANY EQUITY UCITS ETF

WISDOMTREE INDIA QUALITY UCITS ETF

WISDOMTREE ISEQ 20 UCITS ETF

WISDOMTREE JAPAN SMALLCAP DIVIDEND UCITS ETF

WISDOMTREE US MULTIFACTOR UCITS ETF

WISDOMTREE US SMALLCAP DIVIDEND UCITS ETF

(the "Closing Funds")

SUB-FUNDS

WISDOMTREE ISSUER ICAV

(the "ICAV")

_________________________________________________________________________________

THIS SHAREHOLDER LETTER IS SENT TO YOU AS A SHAREHOLDER IN WISDOMTREE ISSUER ICAV. IT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IF YOU ARE IN ANY DOUBT AS TO THE ACTION TO BE TAKEN, YOU SHOULD IMMEDIATELY CONSULT YOUR STOCKBROKER, BANK MANAGER, SOLICITOR OR ATTORNEY OR OTHER PROFESSIONAL ADVISOR.

If you have transferred your holding in the ICAV, please send this document to the stockbroker, bank manager or other agent through whom the transfer was effected for transmission to the transferee.

Terms used in this shareholder letter and not otherwise defined bear the same meanings as where used in the prospectus of the ICAV dated 6 May 2020 available from WisdomTree's website at the following link: https://www.wisdomtree.eu/en-gb/-/media/eu-media-files/key-documents/prospectus/wt/prospectus-wisdomtree.pdf.

Dated 8 July 2020

8 July 2020

To: All shareholders in the Closing funds

NOTICE OF COMPULSORY REDEMPTIONS AND FUND CLOSURES

Dear Shareholder,

1. Background

WisdomTree ("WisdomTree") continuously reviews its product set to ensure that all of its products are compelling and differentiated investment offerings within the current exchange traded fund landscape. As a result of a comprehensive review, and after carefully evaluating factors such as market demand and competitive positioning, WisdomTree has identified certain sub-funds of the ICAV which have not gathered significant turnover or demand from investors and is therefore closing these funds in order to better serve products which have enjoyed more traction and make room for more relevant innovation going forward.

This announcement is being made 2 months ahead of the Compulsory Redemption Date (as defined below) to give investors sufficient time to make their investment decisions. During this time, we are dedicated to ensuring the process around the closure of these products is seamless for our investors.

The ICAV wishes to notify shareholders of compulsory redemptions of all share classes of the Closing Funds, the details of which are set out below.

2. Compulsory Redemption

Notice of Compulsory Redemption

The ICAV gives notice, pursuant to paragraph 10.1.7 of the ICAV's Instrument of Incorporation (the "Instrument"), that all of the shares (the "Redeeming Shares") in all the share classes of the Closing Funds (as set out at Appendix 1), are to be compulsorily redeemed and that the ICAV has nominated 8 September 2020 to be the compulsory redemption date for all share classes of the Closing Funds except for WisdomTree CBOE S&P 500 PutWrite UCITS ETF, in respect of which the ICAV has nominated 11 September 2020 to be the compulsory redemption date (the "Compulsory Redemption Dates"). The ICAV will give further notice after the Compulsory Redemption Dates of the redemption proceeds payable to shareholders.

Application has been made for the Closing Funds to be removed from the Official List and from trading on the regulated market of Euronext Dublin and Euronext Dublin has agreed that the Shares of the Sub-Fund will be delisted with effect from the relevant Compulsory Redemption Date.

Deviation from Investment Policy

The ICAV may need to sell off some of the underlying assets in the Closing Funds in the days leading up to the relevant Compulsory Redemption Date to ensure an efficient liquidation of the underlying assets. This could result in the relevant Closing Fund no longer tracking the index as per its investment policy, and may impact the tracking error of the relevant Closing Fund between the last trading day on exchange and the relevant Compulsory Redemption Date.

For Authorised Participants

For authorised participants that have entered into authorised participant agreements with the ICAV, redemption requests received (or deemed received) prior to the dealing deadlines for the relevant Closing Fund on 4 September 2020 will be valid and will be processed in the normal way. Redemption requests received (or deemed received) after that day will be invalid. Any Redeeming Shares then remaining in issue will be compulsorily redeemed in accordance with the Prospectus and the relevant Supplement.

For all Shareholders and End Investors

For all shareholders on the register and underlying investors ("End Investors"), it is expected that the Redeeming Shares will stop trading on their respective exchanges after the close of trading on or around 1 September 2020. If you wish to sell your Redeeming Shares before the compulsory redemption, you should do so by the close of trading on this date.

Please note that there will be a gap between the last trading day on exchange and the relevant Compulsory Redemption Date. There will also be a further gap between the relevant Compulsory Redemption Date and the payment of the redemption proceeds to shareholders whilst these payments are processed. End Investors are therefore strongly advised to contact their advisors and brokers if they wish to sell their Redeeming Shares in advance of the last trading day on exchange in order to avoid being part of the compulsory redemption process.

Actions to be taken

On or prior to 1 September 2020, being the expected last day where trading on exchange will be possible, End Investors can take two actions:

1. Sell their Redeeming Shares in advance of the last trading day on exchange either independently or by contacting their broker or financial advisor; or

2. Do nothing and be part of the compulsory redemption process and receive payment on the redemption of your Redeeming Shares as outlined below.

Payment of redemption proceeds

It is expected that the redemption proceeds in respect of the compulsory redemption of each of the Redeeming Shares will sent on or around 15 September 2020 to Citibank Europe plc (the "Common Depositary") or its nominee. Through an automated process, the Common Depositary will instruct onward payments which will pass through nominees to the End Investors. The Common Depositary will make this payment on or around 17 September 2020. Such payments will be made in the relevant share class currency as set out in Appendix 1.

End Investors who are not named on the register of Shareholders which is maintained on behalf of the ICAV, will receive the proceeds of the compulsory redemption from their intermediary/broker. There may be delays in these payments reaching End Investors and they are advised to contact their brokers or financial advisers for more information.

3. Further information

For further information on the compulsory redemption please refer to the Compulsory Redemption Q&A included in Appendix 2 or contact WisdomTree UK Limited at [email protected].

Yours faithfully

_______________________________

Director

For and on behalf of

WisdomTree Issuer ICAV

APPENDIX 1

LIST OF CLOSING FUNDS AND THE REDEEMING SHARES

Closing Fund	Redeeming Share Class	ISIN	WKN	Exchange	Share Class Currency
WisdomTree CBOE S&P 500 PutWrite UCITS ETF	WisdomTree CBOE S&P 500 PutWrite UCITS ETF - USD Acc	IE00BD49R243	A2JD97	London Stock Exchange	USD
				London Stock Exchange	USD
				Borsa Italiana	USD
				SIX Swiss Exchange	USD
		DE000A2JEFE8*	A2JEFE*	Xetra	USD
WisdomTree Emerging Asia Equity Income UCITS ETF	WisdomTree Emerging Asia Equity Income UCITS ETF	IE00BYPGT035	A14YT0	London Stock Exchange	USD
				London Stock Exchange	USD
				Borsa Italiana	USD
				SIX Swiss Exchange	USD
		DE000A140SG3*	A14SG*	Xetra	USD
WisdomTree Germany Equity UCITS ETF	WisdomTree Germany Equity UCITS ETF - CHF Hedged Acc	IE00BYQCZ914	A2AB70	SIX Swiss Exchange	CHF
	WisdomTree Germany Equity UCITS ETF - EUR Acc	IE00BYQCZC44	A1403B	London Stock Exchange	EUR
				London Stock Exchange	EUR
				Borsa Italiana	EUR
				SIX Swiss Exchange	EUR
		DE000A142K45*	A142K4*	Xetra	EUR
	WisdomTree Germany Equity UCITS ETF - GBP Hedged	IE00BVXBGY20	A14WBU	London Stock Exchange	GBP
	WisdomTree Germany Equity UCITS ETF - GBP Hedged		A14WBU	SIX Swiss Exchange	GBP
	WisdomTree Germany Equity UCITS ETF - USD Hedged	IE00BYQCZ682	A143HY	London Stock Exchange	USD
		IE00BYQCZ682	A143HY	London Stock Exchange	USD
		IE00BYQCZ682	A143HY	SIX Swiss Exchange	USD
WisdomTree India Quality UCITS ETF	WisdomTree India Quality UCITS ETF - USD	IE00BDGSNK96	A2DJN0	London Stock Exchange	USD
	WisdomTree India Quality UCITS ETF - USD	DE000A2DJWH8*	A2DJWH*	Xetra	USD
	WisdomTree India Quality UCITS ETF - USD Acc	IE00BDGSNL04	A2DJN1	London Stock Exchange	USD
		IE00BDGSNL04	A2DJN1	Borsa Italiana	USD
		DE000A2DJWJ4*	A2DJWJ*	Xetra	USD
WisdomTree ISEQ 20 UCITS ETF	WisdomTree ISEQ 20 UCITS ETF	IE00BVFB1H83	A14Q0H	London Stock Exchange	EUR
				London Stock Exchange	EUR
				Euronext Dublin	EUR
WisdomTree Japan SmallCap Dividend UCITS ETF	WisdomTree Japan SmallCap Dividend UCITS ETF - USD	IE00BFXYK923	A2N4QZ	London Stock Exchange	USD
	WisdomTree Japan SmallCap Dividend UCITS ETF - USD	IE00BFXYK923	A2N4QZ	Borsa Italiana	USD
	WisdomTree Japan SmallCap Dividend UCITS ETF - USD Acc	IE00BFXYKD63	A2PABQ	London Stock Exchange	USD
	WisdomTree Japan SmallCap Dividend UCITS ETF - USD Acc	IE00BFXYKD63	A2PABQ	Borsa Italiana	USD
WisdomTree US Multifactor UCITS ETF	WisdomTree US Multifactor UCITS ETF - USD	IE00BD8ZCY59	A2PABL	London Stock Exchange	USD
	WisdomTree US Multifactor UCITS ETF - USD	IE00BD8ZCY59	A2PABL	Borsa Italiana	USD
	WisdomTree US Multifactor UCITS ETF - USD Acc	IE00BD8ZD313	A2PABM	London Stock Exchange	USD
	WisdomTree US Multifactor UCITS ETF - USD Acc	IE00BD8ZD313	A2PABM	Borsa Italiana	USD
WisdomTree US SmallCap Dividend UCITS ETF	WisdomTree US SmallCap Dividend UCITS ETF	IE00BQZJBT94	A12HUW	London Stock Exchange	USD
				London Stock Exchange	USD
				Borsa Italiana	USD
				SIX Swiss Exchange	USD
		DE000A14ND20*	A14ND2*	Xetra	USD

* Please note that DE ISINs and German WKNs will be migrated to the IE ISINs and Irish WKNs set out above in connection to the ICSD transition on or around the 10 August 2020, and they will no longer be in existence by the compulsory redemption date.

APPENDIX 2

Compulsory Redemption Q&A

EUROPEAN EXCHANGE TRADED FUNDS TO BE COMPULSORY REDEEMED

WisdomTree Issuer ICAV (WisdomTree) has announced that it will be compulsorily redeeming 8 Exchange Traded Funds ("ETFs") from its UCITS platform on the compulsory redemption dates referenced below. This means that the ETFs being closed, which are listed below, and their underlying share classes will terminate and be compulsorily redeemed on this date.

1. WHICH PRODUCTS WILL BE CLOSING AND WHEN?

This announcement impacts the following 8 UCITs ETFs only:

Product

Compulsory Redemption Date

WisdomTree Emerging Asia Equity Income UCITS ETF

8^th September 2020

WisdomTree Germany Equity UCITS ETF

8^th September 2020

WisdomTree India Quality UCITS ETF

8^th September 2020

WisdomTree Japan SmallCap Dividend UCITS ETF

8^th September 2020

WisdomTree ISEQ 20 UCITS ETF

8^th September 2020

WisdomTree US Multifactor UCITS ETF

8^th September 2020

WisdomTree US Small Cap Dividend UCITS ETF

8^th September 2020

WisdomTree CBOE S&P 500 PutWrite UCITS ETF

11^th September 2020

The full share class listings of these products can be found later in the document.

2. WHAT ARE THE KEY DATES AND STAGES FOR THE UCITS ETF CLOSURES?

Here are the key dates and steps for the closing down of the UCITS ETFs. Please note that the ETFs will continue to price daily until the Compulsory Redemption Date (as defined in the table above). Please refer to Q.8 for details on each stage of the timeline.

TIMELINE

PROCESS STEPS

Tuesday 1 September 2020

Last day of trading on relevant Stock Exchanges

(All investors)

Thursday 3 September 2020

Last trading day for Creations

(Authorised Participants only)

Friday 4 September 2020

Last trading day for Redemptions

(Authorised Participants only)

Tuesday 8 September 2020

Compulsory redemption date

(ETFs in scope ex-PUTW)

Friday 11 September 2020

Compulsory redemption date

(PUTW only)

Monday 14 September 2020

Record Date for Shareholders and Final Price Announcement

Thursday 17 September 2020

Compulsory redemption payment date to Shareholders

3. WHY IS THIS HAPPENING?

WisdomTree continuously reviews its product set to ensure that it provides compelling and differentiated investment offerings within the current ETP landscape. As a result of a comprehensive review and after carefully evaluating factors like the investor's best interests, market demand and competitive positioning, WisdomTree has identified funds which have not gathered enough investment or demand from investors and which are expensive to run; therefore, it is carrying out these fund closures to better serve products which have enjoyed more traction and make room for more relevant innovation going forward.

The announcement has been made with 2 months' notice of the effective closure date to give investors as long as possible to make their investment decisions. During this time, we are dedicated to ensuring the process around the closure of these products is seamless for our investors.

4. DOES THIS IMPACT OTHER WISDOMTREE ETFs?

No. The closing of the funds only impacts the 8 ETFs listed above

5. ARE YOU LOOKING AT CLOSING MORE ETFs?

No. WisdomTree is not planning to close more ETFs. As mentioned, WisdomTree continuously reviews its product set to ensure that it provides compelling and differentiated investment offerings.

WisdomTree will continue to offer one of the most comprehensive product sets in Europe with 233 products available across commodities, equities, foreign exchange, fixed income, digital assets and alternatives, after this process has completed.

A range of our other products available can be found by accessing this link: www.wisdomtree.eu

6. IF I AM INVESTED IN AN ETF THAT IS CLOSING, WHAT DO I NEED TO DO?

Please note that the ETFs, which are due to close, will stop trading on their respective exchanges after the close of trading on or around 01 September 2020. This is necessary to help the ETFs wind down in an orderly way,

Investors have 2 options:

(i) Investors can sell their positions prior to the last exchange trading day on 1 September 2020; or

(ii) Investors can wait until the compulsory redemption takes effect on the compulsory redemption dates and they will receive their proceeds on or after 17 September 2020

Please note only investors capable of trading off-exchange (also known as, Over The Counter) will be able to sell their positions between the 1 September and 4 September 2020.

Please see the timeline and key stages in Q2 and the process outlined in more detail in Q.8.

7. IF I AM INVESTED IN AN ETF THAT IS CLOSING AND I DON'T DO ANYTHING, WHAT HAPPENS?

Following the close of trading on exchange on or around 1^st September 2020, any remaining investors will automatically be part of the compulsory redemption process. Please note that there will be a gap between the last trading date on exchange and the compulsory redemption date or FINAL NAV date which might mean there is a difference in the final NAV and the NAV of 1^st September 2020.

There will also be a further gap between the compulsory redemption date and the payment date when beneficial shareholders will receive the cash payments in respect of their ETFs.

If you are holding affected ETF(s) through an intermediary or broker, it could take longer for the cash payments to be paid to you and your broker may apply additional fees. Please contact your intermediary or broker to discuss this.

8. WHAT SHOULD I EXPECT TO HAPPEN IN THE PROCESS OF CLOSING DOWN AN ETF?

The following timeline can provide additional detail about the process and what investors should expect at each stage.

8^th July 2020

The date of the announcement notifying investors of the expected product closures. The notice period between the date of the announcement and the date of closure is intended to allow investors flexibility in managing their position.

We encourage investors to sell their shares in the ETFs listed for closure prior to 1^st September 2020, being the date on which these ETFs are expected to stop trading on their respective exchanges. Alternatively, investors may stay invested in the products and see them compulsory redeemed on or around 8^th September 2020 through the process described below.

1^st September 2020

This is the last day of exchange trading for the ETFs listed for closure as they will be delisted at the close of business. After 1^st September 2020, investors will no longer be able to buy or sell the products on exchange. Please note, from the 2^nd September 2020 to 4^th September 2020, it may still be possible in some circumstances to trade out of your position "over-the-counter" (OTC) by contacting your broker or trading platform.

4^th September 2020

This is the last day that the ETFs for closure will accept redemptions. After this date, any investor holdings will be subject to the compulsory redemption.

8^th September and 11^th September 2020

As set out in Q2 above, these are the compulsory redemption dates and the dates at which the ETFs for closing will be valued for the final time and redeemed. The final value of investor's holdings will be based upon the price ("NAV") of the products which are closing as of the close of this date. WisdomTree will be communicating the final NAV of the ETFs for closing on or around 14^th September. Investors will be able to find all FINAL NAVs published on the WisdomTree website www.wisdomtree.eu by looking up the relevant ETF. An updated table with final prices will also be published.

17^th September 2020

This is the date on which the Issuer expects to make all payments to shareholders as per the record date of 14^th September 2020. Payments will be made in the relevant share class currency of the ETF. Please refer to the product table on the back page for more information.

To the extent that you hold the products which are closing through a broker, custodian or other intermediary, please contact that intermediary for information on how they will pass on the payments. Typically, you should expect to receive the payment in much the same way you receive a dividend, a coupon on a bond or the payment of principle when the bond matures. It may take longer for the payment to find its way to your account if you hold the share through a broker or a nominee account of another kind and your broker may apply additional fees.

We strongly recommend that investors contact their broker, bank or financial adviser who will be able to provide further information regarding how this process will work for you.

9. WHY IS THERE A GAP BETWEEN THE LAST EXCHANGE TRADING DAY AND THE COMPULSORY REDEMPTION DATE?

The reason why the secondary market trading has been suspended around 5 days ahead of the closures is because the secondary market is made up of many participants and the trades can flow through numerous investment intermediaries who are trading on various exchanges and market venues. As the ETF trading ecosystem is subject to various levels of intermediation, this can result in a time lag between an end investor trading an ETF and that ETF position being reflected in the accounts of the various settlement systems. To ensure that the correct beneficial owner receives the proceeds from the ETFs which are closing, we have built in sufficient time for this settlement to happen.

10. WHY ARE THERE 2 DIFFERENT CLOSING DATES?

The products are split across 2 different investment managers, so having two different closure dates ensures the process is managed in the most orderly way.

11. IF I AM THE LAST INVESTOR IN THE ETFs BEFORE CLOSE, WILL I INCUR ADDITIONAL COSTS?

No. There are no additional costs charged by WisdomTree and borne by the investor due to the ETF closures.

12. YOU ANNOUNCED TRANSITION TO ICSD SETTLEMENT MODEL, WILL THIS IMPACT THE ETFs WHICH ARE IN SCOPE FOR THE COMPLUSORY REDEMPTION?

No. The issuer will transition to the ICSD settlement model as expected. The 8 ETFs will then be compulsory redeemed as per the announcement.

13. WILL THE ETFs DEVIATE FROM THE BENCHMARK DURING LIQUIDATION?

The investment managers may need to sell off some of the funds underlying equity holdings in the days leading up to the final NAV date to ensure efficient liquidation of the portfolios. This could result in the fund no longer tracking the index as per its investment objective and can cause additional tracking. This is only expected to occur in the few days ahead of the final NAV date.

LIST OF ETFs TO BE COMPULSORY REDEEMED

Product Name	ISIN	WKN	Shareclass Currency	Exchange	Ticker
WisdomTree CBOE S&P 500 PutWrite UCITS ETF - USD Acc	IE00BD49R243	A2JD97	USD	London Stock Exchange	PUTW LN
				London Stock Exchange	PUTS LN
				Borsa Italiana	PUTW IM
				SIX Swiss Exchange	PUTW SW
	DE000A2JEFE8*	A2JEFE*	USD	Xetra	WTDB GY
WisdomTree Emerging Asia Equity Income UCITS ETF	IE00BYPGT035	A14YT0	USD	London Stock Exchange	DEMA LN
				London Stock Exchange	DEMP LN
				Borsa Italiana	DEMA IM
				SIX Swiss Exchange	DEMA SW
	DE000A140SG3*	A14SG*	USD	Xetra	WTEA GY
WisdomTree Germany Equity UCITS ETF - CHF Hedged Acc	IE00BYQCZ914	A2AB70	CHF	SIX Swiss Exchange	DXGD SW
WisdomTree Germany Equity UCITS ETF - EUR Acc	IE00BYQCZC44	A1403B	EUR	London Stock Exchange	DXGY LN
				London Stock Exchange	DXGZ LN
				Borsa Italiana	DXGY IM
				SIX Swiss Exchange	DXGY SW
	DE000A142K45*	A142K4*	EUR	Xetra	WTEZ GY
WisdomTree Germany Equity UCITS ETF - GBP Hedged	IE00BVXBGY20	A14WBU	GBP	London Stock Exchange	DXGP LN
				SIX Swiss Exchange	DXGP SW
WisdomTree Germany Equity UCITS ETF - USD Hedged	IE00BYQCZ682	A143HY	USD	London Stock Exchange	DXGE LN
					DXGG LN
	IE00BYQCZ682	A143HY	USD	SIX Swiss Exchange	DXGE SW
WisdomTree India Quality UCITS ETF - USD	IE00BDGSNK96	A2DJN0	USD	London Stock Exchange	EPIQ LN
	DE000A2DJWH8*	A2DJWH*	USD	Xetra	WTDZ GY
WisdomTree India Quality UCITS ETF - USD Acc	IE00BDGSNL04	A2DJN1	USD	London Stock Exchange	EPIE LN
				Borsa Italiana	EPIE IM
	DE000A2DJWJ4*	A2DJWJ*	USD	Xetra	WTD0 GY
WisdomTree ISEQ 20 UCITS ETF	IE00BVFB1H83	A14Q0H	EUR	London Stock Exchange	ISQE LN
				London Stock Exchange	ISEQ LN
				Euronext Dublin	WTIE ID
WisdomTree Japan SmallCap Dividend UCITS ETF - USD	IE00BFXYK923	A2N4QZ	USD	London Stock Exchange	DFJ LN
				Borsa Italiana	DFJ IM
WisdomTree Japan SmallCap Dividend UCITS ETF - USD Acc	IE00BFXYKD63	A2PABQ	USD	London Stock Exchange	DFJA LN
				Borsa Italiana	DFJA IM
WisdomTree US Multifactor UCITS ETF - USD	IE00BD8ZCY59	A2PABL	USD	London Stock Exchange	USMF LN
				Borsa Italiana	USMF IM
WisdomTree US Multifactor UCITS ETF - USD Acc	IE00BD8ZD313	A2PABM	USD	London Stock Exchange	FCTR LN
				Borsa Italiana	FCTR IM
WisdomTree US SmallCap Dividend UCITS ETF	IE00BQZJBT94	A12HUW	USD	London Stock Exchange	DESD LN
				London Stock Exchange	DESE LN
				Borsa Italiana	DESE IM
				SIX Swiss Exchange	DESE SW
	DE000A14ND20*	A14ND2*	USD	Xetra	WTEC GY

This announcement has been issued through the Companies Announcement Service of Euronext Dublin.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

END

ISEUPUBAMUPUGGR

RNS metadata

Title: Shareholder Notification
Time: 13:01:44
Date: 8 Jul 2020
Category: Miscellaneous
ID: 4275S