27 May 2021 11:42
Tabula ICAV - Share Class Closure NotificationTabula ICAV - Share Class Closure Notification
PR Newswire
London, May 27
THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION.
If you are in any doubt about the course of action to take in relation to this document, you should consult your stockbroker, bank manager, solicitor, accountant or other professional advisor.
If you have sold or transferred your shares in Tabula iTraxx Crossover Credit UCITS ETF (EUR), 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.
Please note that this notice has not been reviewed by the Central Bank of Ireland (the “Central Bank”).
This notice may also be translated into other languages. Any such translation shall only contain the same information and have the same meaning as the English language notice. To the extent that there is any inconsistency between the English language notice and the notice in another language, the English language notice will prevail. If applicable, please contact your paying agent for a local language version of this notice.
27th May 2021
Tabula ICAV (the “ICAV”)
Tabula European iTraxx Crossover Credit UCITS ETF (EUR) (ISIN: IE00BH059L74 ) (the “Fund”)
The directors of the ICAV (the “Directors”) wish to inform you of their decision to close the Fund with effect from 23 June 2021 (the “Closure Date”) for the reasons set out below.
Background to the Decision
The Directors have discretion under the ICAV’s instrument of incorporation and the prospectus to redeem all of the shares of a sub-fund of the ICAV (the “Shares”). The Directors, in consultation with Tabula Investment Management Limited (the “Investment Manager”), have reviewed the ICAV’s sub-fund range and due to the size of the Fund and low levels of investor demand, have resolved to close the Fund in the best interests of shareholders.
Therefore, in accordance with the provisions of the instrument of incorporation and the prospectus for the ICAV, the Directors hereby give notice of their intention to:
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 21 June 2021; and terminate the Fund with effect from 23 June 2021; and proceed with the compulsory redemption of all outstanding Shares.Proposed Timetable
| Date | Event |
| 21 June 2021 | Final exchange trading date |
| 22 June 2021 | Final dealing date (voluntary) |
| 23 June 2021 | Mandatory redemption trade date (and Closure Date) |
| 7 July 2021 | Redemption settlement date |
Additional Information
Requests for repurchase or subscription for Shares may be made in the usual manner in accordance with the prospectus for the ICAV and the supplement for the Fund until 22 June 2021.
The following terms and conditions of the compulsory redemption of Shares shall apply as at the Closure Date:
the Fund shall be terminated and the repurchase price for each class of Shares will be determined by reference to the Net Asset Value of the respective class of Shares as of the Closure Date. The costs in relation to the termination will be borne by the Investment Manager; no repurchase charge will be applied; the repurchase proceeds will be paid in the relevant share class currency; the payment of the repurchase proceeds resulting from the compulsory repurchase will take place on or around 7 July 2021; and 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 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 instrument of incorporation free of charge from the registered office of the ICAV or the local representatives in the countries where the ICAV is registered and where applicable on the website of the ICAV – www.tabulaim.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.
All capitalised terms used in this notice shall bear the same meaning as the capitalised and defined terms used in the prospectus of the ICAV and in the supplement of the Fund.
If you have any queries arising from this notice, please call the Investment Manager on +44203 909 4700 or contact us at capmarkets@tabulaim.com
Yours sincerely
_________________
For and on behalf of
Tabula ICAV