15 September 2021
LSE Code: 3NGS
WISDOMTREE MULTI ASSET ISSUER PUBLIC LIMITED COMPANY
(a public company incorporated with limited liability in Ireland)
WISDOMTREE NATURAL GAS 3X DAILY SHORT SECURITIES
PROPOSED AMENDMENT TO THE PRINCIPAL AMOUNT OF THE AFFECTED SECURITIES
MEETING OF THE ETP SECURITYHOLDERS
THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you are in any doubt about what action you should take, you are recommended to consult your independent financial adviser.
NOTICE is hereby given that, pursuant to the provisions of the trust deed dated 30 November 2012 (as amended) constituting (inter alia) the WisdomTree Natural Gas 3x Daily Short Securities (the “Affected Securities”) and made between (1) WisdomTree Multi Asset Issuer Public Limited Company (the “Issuer”), (2) The Law Debenture Trust Corporation p.l.c. (the “Trustee”) and (3) WisdomTree Multi Asset Management Limited (the “Manager”), a meeting of the holders of the Affected Securities (the “Affected Securities Holders”), convened by the Issuer, will be held by way of virtual meeting on Friday 8 October 2021 at 11 a.m. local time (the “Meeting”).
The Meeting is being held to consider certain amendments, made under the powers set out in clause 2 of schedule 7 of the master trust deed of the Affected Securities, to documentation required to effect a reduction in the principal amount of the Affected Securities from USD 0.2 to USD 0.02. This follows the price of the Affected Securities falling below 500 per cent of its current principal amount on Friday 10 September 2021 (the “Threshold Event Date”).
In a scenario where the vote does not pass, if the price then falls below 200% of the principal amount on or after 60 days from the Threshold Event Date, then a compulsory redemption event will be triggered and the Issuer will be required to compulsorily redeem all Affected Securities Holders.
In order to maintain the normal trading and operations of the Affected Securities and to avoid a compulsory redemption event being triggered, the Issuer considers that the principal amount of the Affected Securities should be reduced.
The reduction in the principal amount will not affect the price of the Affected Securities as the price is calculated by reference to the underlying index and not to the principal amount of the Affected Securities.
It is important to note that:
The reduction of the principal amount of the Affected Securities does NOT dilute an Affected Securities Holder’s holding or reduce the value of an Affected Securities Holder’s holding.
The reduction of the principal amount does NOT negatively impact the ability of the investor to trade the Affected Securities.
The reduction of the principal amount does NOT affect the amount an Affected Securities Holder would, in practice, receive on redemption of the Affected Securities.
Affected Securities Holders may also access the notification, including the circular, on the website of the Issuer, at
Holders of the Affected Securities are advised to check with any bank, securities broker or other intermediary through which they hold their Affected Securities when such intermediary would need to receive instructions from a holder of Affected Securities in order for such holder of Affected Securities to participate in the Meeting by the deadlines specified in this circular. The deadlines set by any such intermediary and each ICSD for the submission instructions will be earlier than the relevant deadlines specified in this circular.
In relation to the delivery instructions or obtaining voting certificates or otherwise making arrangements for the giving of voting instructions, in each case through the ICSDs, holders of the Affected Securities should note the particular practice and policy of the relevant ICSDs, including any earlier deadlines set by such ICSD. The deadlines set by any intermediary or by the ICSDs will be earlier than the deadlines set out in this circular.
Affected Securities Holders will be notified of the outcome of the Meeting shortly thereafter.