Information  X 
Enter a valid email address
  Print      Mail a friend       More announcements

Friday 20 November, 2020

WisdomTree Metal Sec

Changes to Custody Agreement(HSBC)

RNS Number : 0805G
WisdomTree Metal Securities Limited
20 November 2020
 

WisdomTree Metal Securities Limited

LEI: 213800QFA5KMBW5CVX71

20 November 2020

 

WisdomTree Metal Securities Limited

Creation of WisdomTree Core Physical Gold (WGLD)

WisdomTree Physical Gold (PHAU) - Changes to the Secured Metal Account Agreements with the Custodian to enable full allocation of Bullion

WisdomTree Physical Swiss Gold (SGBS) - appointment of new Metal Agent

Amendments to the Conditions

WisdomTree Metal Securities Limited (the "Issuer") hereby announces that:

· pursuant to a ninth Supplemental Trust Instrument (the "Supplemental Trust Instrument") dated 20 November 2020 between the Issuer and The Law Debenture Trust Corporation p.l.c. (the "Trustee") it has created and will make available for issue a new class of WisdomTree Metal Securities called WisdomTree Core Physical Gold;

· the WisdomTree Core Physical Gold Securities are described in a new base prospectus (the "Prospectus") of the Issuer relating to the WisdomTree Metal Securities dated 20 November 2020;

· pursuant to an amendment to and restatement of the Secured Unallocated Account Agreement with HSBC Bank plc ("HSBC") and the Trustee dated 20 November 2020, as part of the Issuer's commitment to enhancing the structure of the product, the Initial Secured Unallocated Account Agreement has been amended to introduce a facility to WisdomTree Physical Gold (PHAU), which will also apply to WisdomTree Core Physical Gold, similar to that introduced for WisdomTree Physical Swiss Gold in September 2020, which will ensure that the gold backing the products is generally always 100% (or more) in allocated gold;

· Metalor Technologies SA has been appointed Metal Agent in respect of WisdomTree Physical Swiss Gold with effect from 20 November 2020;  and

· pursuant to the Supplemental Trust Instrument, the Issuer and the Trustee have agreed to make certain changes to the Conditions of the Metal Securities (the Issuer having provided to the Trustee a certificate that in its opinion to do so is desirable and not materially prejudicial to the rights of Security Holders) which will become effective on the date of this announcement.

WisdomTree Core Physical Gold

WisdomTree Core Physical Gold is designed to offer investors a simple and cost-efficient way to access the gold market by providing a return equivalent to the movements in the gold spot price.

Further information in relation to WisdomTree Core Physical Gold is set out in the Prospectus.

WisdomTree Physical Gold - Bullion facility

With effect from 20 November 2020, HSBC will be providing a facility on the Secured Unallocated Account applicable to the WisdomTree Physical Gold Securities pursuant to which gold Bullion standing to the credit of the Secured Unallocated Account in respect of WisdomTree Physical Gold will be fully allocated to the Secured Allocated Account in respect of WisdomTree Physical Gold. In any circumstance where HSBC has agreed to hold for the Issuer a quantity of gold Bullion which cannot be allocated in a whole number of physical bars, the Secured Allocated Account will be rounded up to record the nearest whole number of physical bars. The difference between the rounded up quantity of gold Bullion comprised by such physical bars and the quantity of such gold Bullion which HSBC has agreed to hold for the Issuer will be debited by HSBC to the Secured Unallocated Account as an unallocated amount of gold Bullion.

WisdomTree Physical Swiss Gold (SGBS) - appointment of new Metal Agent

On 21 July 2020, Heraeus Metals Germany GmbH & Co KG ("Heraeus Metals") gave notice to terminate the Metal Agency Agreement with the Issuer relating to Physical Metal Delivery in relation to WisdomTree Physical Swiss Gold.  The Issuer announces that Metalor Technologies SA ("Metalor") has been appointed Metal Agent in place of Heraeus Metals with effect from 20 November 2020.  Metalor will also be the Metal Agent in respect of Physical Metal Delivery in relation to WisdomTree Core Physical Gold.

Amendment to the Conditions

In addition to changes made consequential upon the creation of the WisdomTree Core Physical Gold Securities, changes have also been made to the Conditions consequent upon the appointment as Metal Agent in respect of Physical Metal Delivery in relation to WisdomTree Physical Swiss Gold of Metalor in place of Heraeus Metals.  The full text of the amended Conditions is set out in the Prospectus.

 

Terms used in this announcement and not otherwise defined bear the same meanings as where used in the Prospectus.

For further information please contact [email protected] .

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCFLFSDLTLIFII

a d v e r t i s e m e n t