Fund Closure - SPDR I - 2024

RNS ANNOUNCEMENT

Date: 30 May 2024

FUND CLOSURE

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

SPDR Bloomberg China Treasury Bond UCITS ETF (the "Fund")

We hereby provide notice that on 30 April 2024 the board of Directors of the Company have resolved to close the Fund and consequently delist its share class, as per the table above, on 5 July 2024 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 the Fund fell below the minimum amount specified in the Prospectus (section "Compulsory Redemptions of Shares", point (d)). As at 30^th April, 2024 the Net Asset Value of the Fund was US$11.9M. The Board do not believe that it will increase materially in the near future and the Fund is uneconomic to operate. The Board are of the opinion that the proposed termination is in the best interests of the Fund's Shareholders. 

If you have sold or transferred all of your Shares in the Fund, 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 Fund 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 4 July 2024.

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.  A full liquidation of the Fund's assets may be required in advance of the Effective Date, if it is deemed in the interests of the Shareholders.  In any event, the Fund will hold an increasing amount of cash and liquid instruments in advance of the Effective Date. Once this liquidation commences the Fund may no longer be able to meet its investment objectives as detailed in the 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 this termination applies to the stated Fund only and does not affect shareholdings in any other sub-funds of the Company.

Investors in the Fund 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].