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General SENS Submitter Company - 20200323 Review Timetable Informative Notice - March and June 2020

Release Date: 20/01/2020 17:20
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20200323 Review Timetable Informative Notice - March and June 2020

March 2020 and June 2020 Shares and Free Floats Updates – Timetable

                                                       FTSE/JSE Indexes

                                                           20 January 2020
 The FTSE/JSE Africa Index Series will be reviewed during March 2020. The review timetable is as follows:

  Event                                              Date                                   Description
  Free Float and Shares In                           14 February 2020                       Cut date to determine free float
  Issue Changes Cut Date                                                                    changes in excess of 3% and
                                                                                            cumulative shares in issue changes
                                                                                            in excess of 1%.
  Ranking Cut Date                                   24 February 2020                       Market capitalisation snapshot for
                                                                                            ranking and selection purposes.
  Indicative Free Float                              24 February 2020                       Publication of the indicative free
                                                                                            float changes.
  Review ICA                                         04 March 2020                          Review additions, deletions and
                                                                                            weighting changes published.
  FTSE/JSE AC Meeting                                05 March 2020                          FTSE/JSE     Advisory    Committee
                                                                                            Meeting.
  Capping Cut Date                                   13 March 2020                          Closing prices snapshot for portfolio
                                                                                            factor calculation.
  Portfolio Factors                                  16 March 2020                          Publication of portfolio factors for
                                                                                            capped, equally weighted and
                                                                                            fundamental weighted indices.
  Effective Date                                     23 March 2020                          Review changes applied from start
                                                                                            of trading.

 Friday 14 February 2020: Cut-off date for new information. Information available prior to the end of day on 14
 February 2020 will be considered when determining March’s shares and free float updates.

 Friday 21 February 2020: The shares and float files will be released on 21 February 2020 (and will be available
 on the FTSE/JSE website on 24 February 2020). Clients are welcome to query the data included within these files
 and FTSE Russell will review appropriately. Any changes will be visible within the files which will be published daily
 between 21 February and 06 March. These files are strictly indicative until end of day on 06 March 2020 and
 are subject to daily changes.

 The FTSE/JSE Index Review files will be released on Wednesday 04 March 2020.

 Friday 21 February to Friday 06 March 2020: Query period. Clients are welcome to query the data visible
 within the files between 21 February 2020 and end of day on 06 March 2020.

 The quarterly updates will be considered final at end of day on Friday 06 March 2020.

 Monday 09 March 2020: Effective start of trading on 09 March 2020, the scheduled changes will be “locked
 down” across the FTSE/JSE Indexes, with no further corrections applied this quarter*.
 *During the quarterly review / annual reconstitution lock-down period, FTSE Russell will generally avoid implementing corrections to ensure stability
 during the period prior to the review / reconstitution implementation. However egregious shares and free float errors discovered within the lock-down
 period or during the week following the review / reconstitution may be corrected if an erroneous change compromises the replicability of the index OR if
 the change places potential price pressure on the company OR if there is a material error of 50% or greater (relative) to index shares. Any corrections
 during the lock-down period or the week following the review will be implemented with appropriate notice. All other shares and free float errors will be
 corrected at the following quarterly index review.
Monday 23 March 2020: From start of trading on 23 March 2020 the quarterly changes will become effective
across the FTSE/JSE indexes.

Additional Clarifications

Stocks Suspended during the Review Period: Constituents which are suspended on Friday 06 March 2020*
will not have their scheduled review changes implemented regardless of a resumption of trade prior to the review
effective date. The scheduled review changes will be implemented T+2 after the review effective date, at the
earliest, upon resumption of trade.

If an active constituent suspends on or prior to Wednesday 18 March 2020, the scheduled review changes will
be reversed and applied T+2 after the resumption of trade (T+2 after the review effective date, at the earliest). If
a suspension occurs on 19 March 2020 or 20 March 2020, the review changes will proceed as previously
communicated**.
*If there is a confirmed resumption of trade date which occurs prior to the review effective date, the review changes
will proceed as scheduled.
**in exceptional circumstances, it may be deemed necessary to reverse the review changes when a company
suspends on 19 or 20 March 2020.

Long Term Suspended Stocks: Constituents that have been suspended for 60 or more days on or before Friday
21 February 2020, will be deleted from the index in conjunction with the index review (at zero price). However,
if the constituent subsequently resumes trading on or prior to Friday 06 March 2020 the deletion will be rescinded
and the constituent will remain within the index if otherwise eligible. If the constituent resumes trading on or after
09 March 2020, it will still be removed in conjunction with the review (at market price if an active replicable
market exists – otherwise it will be removed at zero).

Equity Offerings: In accordance with standard methodology, primary and secondary offerings will continue to be
applied with two days’ notice when discovered after the review announcement date. However, offerings which
would ordinarily become effective at the open on the Tuesday - Friday prior to the review will instead be
implemented simultaneously in conjunction with the review effective date on 23 March 2020 (open). Offerings
discovered on the Thursday and Friday prior to the review will be implemented with two days’ notice and therefore
subsequent to the review.

Timetable Summary

 Date                                                      Action
 Friday 14 February                                        Shares and Float cut-off date
 Friday 21 February to Friday 06 March                     Shares in issue and free float changes published
 Wednesday 04 March                                        The review files will be published.
 Friday 21 February to Friday 06 March                     Query period
 Monday 09 March                                           Lock down period commences from the open
 Monday 23 March                                           Index review effective from the open
FTSE Russell is also pleased to announce the June 2020 Index Review timetable as follows:

 Event                                                Date                                    Description
 Free Float and Shares In                             08 May 2020*                            Cut date to determine free float and
 Issue Changes Cut Date                                                                       cumulative shares in issue changes.
 Ranking Cut Date                                     25 May 2020                             Market capitalisation snapshot for
                                                                                              ranking and selection purposes.
 Indicative Free Float                                25 May 2020                             Publication of the indicative free
                                                                                              float changes.
 Review ICA                                           03 June 2020                            Review additions, deletions and
                                                                                              weighting changes published.
 FTSE/JSE AC Meeting                                  04 June 2020                            FTSE/JSE      Advisory   Committee
                                                                                              Meeting.
 Capping Cut Date                                     12 June 2020                            Closing prices snapshot for portfolio
                                                                                              factor calculation.
 Portfolio Factors                                    15 June 2020                            Publication of portfolio factors for
                                                                                              capped, equally weighted and
                                                                                              fundamental weighted indices.
 Effective Date                                       22 June 2020                            Review changes applied from start
                                                                                              of trading.
*Please Note: The ground rules are currently under review with a view to providing additional clarification
on the June cut-off dates.

Friday 08 May 2020: Cut-off date for new information. Information available prior to the end of day on 08 May
2020 will be considered when determining June’s shares and free float updates.

Friday 22 May 2020: The shares and float files will be released on 22 May 2020 (and will be available on the
FTSE/JSE website on 25 May 2020). Clients are welcome to query the data included within these files and FTSE
Russell will review appropriately. Any changes will be visible within the files which will be published daily between 22
May and 05 June. These files are strictly indicative until end of day on 05 June 2020 and are subject to daily
changes.

The FTSE/JSE index review files will also be released on Wednesday 03 June 2020.

Friday 22 May to Friday 05 June 2020: Query period. Clients are welcome to query the data visible within the
files between 22 May 2020 and end of day on 05 June 2020.

The quarterly updates will be considered final at end of day on Friday 05 June 2020.

Monday 08 June 2020: Effective start of trading on 08 June 2020, the scheduled changes will be “locked down”
across the FTSE/JSE Indexes, with no further corrections applied this quarter*.
*During the quarterly review / annual reconstitution lock-down period, FTSE Russell will generally avoid implementing corrections to ensure stability during
the period prior to the review / reconstitution implementation. However egregious shares and free float errors discovered within the lock-down period or
during the week following the review / reconstitution may be corrected if an erroneous change compromises the replicability of the index OR if the change
places potential price pressure on the company OR if there is a material error of 50% or greater (relative) to index shares. Any corrections during the lock-
down period or the week following the review will be implemented with appropriate notice. All other shares and free float errors will be corrected at the
following quarterly index review.


Monday 22 June 2020: From start of trading on 22 June 2020 the quarterly changes will become effective across
the FTSE/JSE indexes.

Additional Clarifications

Stocks Suspended during the Review Period: Constituents which are suspended on Friday 22 May 2020* will
not have their scheduled review changes implemented regardless of a resumption of trade prior to the review effective
date. The scheduled review changes will be implemented T+2 after the review effective date, at the earliest, upon
resumption of trade.

If an active constituent suspends on or prior to Wednesday 17 June 2020, the scheduled review changes will be
reversed and applied T+2 after the resumption of trade (T+2 after the review effective date, at the earliest). If a
suspension occurs on Thursday 18 June 2020 or Friday 19 June 2020, the review changes will proceed as
previously communicated**.

*If there is a confirmed resumption of trade date which occurs prior to the review effective date, the review changes
will proceed as scheduled.
**in exceptional circumstances, it may be deemed necessary to reverse the review changes when a company
suspends on 18 or 19 June 2020.
 Long Term Suspended Stocks: Constituents that have been suspended for 60 or more days on or before Friday
 22 May 2020, will be deleted from the index in conjunction with the index review (at zero price). However, if the
 constituent subsequently resumes trading on or prior to Friday 05 June 2020 the deletion will be rescinded and the
 constituent will remain within the index if otherwise eligible. If the constituent resumes trading on or after 05 June
 2020, it will still be removed in conjunction with the review (at market price if an active replicable market exists –
 otherwise it will be removed at zero).

 Equity Offerings: In accordance with standard methodology, primary and secondary offerings will continue to be
 applied with two days’ notice when discovered after the review announcement date. However, offerings which would
 ordinarily become effective at the open on the Tuesday - Friday prior to the review will instead be implemented
 simultaneously in conjunction with the review effective date on 22 June 2020 (open). Offerings discovered on the
 Thursday and Friday prior to the review will be implemented with two days’ notice and therefore subsequent to the
 review.

 Timetable Summary

   Date                                                             Action
   Friday 08 May                                                    Shares and Float cut-off date
   Friday 22 May to Friday 05 June                                  Shares in issue and free float changes published
   Wednesday 03 June                                                The review files will be published.
   Friday 22 May to Friday 05 June                                  Query period
   Monday 08 June                                                   Lock down period commences from the open
   Monday 22 June                                                   Index review effective from the open

 Should you require further information, please refer to the FTSE/JSE Ground Rules available at the link below or
 contact the JSE on +27 11 520 7000 or info@jse.co.za

 FTSE/JSE Ground Rules


For further information please contact FTSE Russell Client Services at info@ftserussell.com or call:

 Australia              +1800 653 680
 Hong Kong              +852 2164 3333
 Japan                  +81 3 3581 2764
 London                 +44 (0) 20 7866 1810
 New York               +1866 551 0617




Alternatively please visit our website at www.ftserussell.com

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Date: 20-01-2020 05:20:00
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