REG - Franklin Templeton - Termination of Fund

Franklin ResourcesAnnouncement

14/03/2025 18:30

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RNS Number : 8139A  Franklin Templeton ICAV  14 March 2025

RNS ANNOUNCEMENT

 

Franklin Templeton ICAV (the "Company")

 

Franklin Global Equity SRI UCITS ETF (the "Fund")

 

14 March 2025

 

Termination of Franklin Global Equity SRI UCITS ETF

 

 Fund                                  ISIN
 Franklin Global Equity SRI UCITS ETF  IE00BF2B0N83

 

 

The Company announces that, in accordance with the terms of Article 19.1.3 of
the Instrument of Incorporation of the ICAV and the terms of the Prospectus,
the Directors have determined to terminate the Fund with effect from 15 April
2025 (the "Compulsory Redemption Date"). The last day of trading of shares in
the Fund will be 14 April 2025 (the "Final Exchange Trading Date"), after
which point the shares will be suspended from trading and permanently delisted
from the Deutsche Börse Xetra, the London Stock Exchange, the Borsa Italiana,
the Euronext Amsterdam Exchange and the SIX Swiss Exchange (the "Relevant
Exchanges").

 

All Shares held in the Fund as of the close of business on the Compulsory
Redemption Date will be compulsorily redeemed on such date at the applicable
Net Asset Value per Share calculated in accordance with the Prospectus and
Instrument of Incorporation. The Fund will be closed to further subscriptions
as from the date of this announcement.

 

The compulsory redemption of Shares and termination of the Fund will be
conducted in accordance with the terms of the Prospectus, the Instrument of
Incorporation and Irish law.

 

Why the Fund is being terminated

The reason for the compulsory redemption and subsequent termination of the
Fund is due to the small size of the Fund, meaning its continuing operation
will no longer be considered as economically viable. As a result, the
Directors have determined that it is in the ultimate best interest of
Shareholders of the Fund to terminate the Fund.

 

What it means to you

This notice does not in any way impact the ability of Authorised Participants
to redeem Shares in the Fund free of charge in accordance with the redemption
procedures set out in the Prospectus that apply to Shares in the Fund at any
time up to the Dealing Deadline on 14 April 2025, being the last dealing day
of the Fund.

 

Shareholders on the secondary market should consider selling your Shares on a
Relevant Exchange on or before the Final Exchange Trading Date if you wish to
avoid the compulsory redemption of your shares. 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 14 April 2025.

 

If you have not made a redemption before the Final Dealing Deadline or sold
your shares before the Final Exchange Trading Date, your holdings in the Fund
will be compulsorily redeemed from the Fund on the Compulsory Redemption Date.
The compulsory redemption of Shares and termination of the Fund will be
conducted in accordance with the terms of the Prospectus, the Instrument of
Incorporation and Irish law.

 

Termination Expenses

As of 28 February 2025, the Fund's total net assets amounted to USD 20,518,409
and the total expense ratio ("TER") of the Fund was as follows:

 

 Share Class Name        ISIN          TER (%)
 Class USD Accumulating  IE00BF2B0N83  0.30%

 

There are no unamortised preliminary expenses for the Fund. Expenses and costs
relating to the termination of the Fund will be borne by the Manager and/or
Investment Manager of the Fund.

 

How we will operate the liquidation

Franklin Advisory Services LLC and Franklin Templeton Investment Management
Limited, as the Fund's Investment Managers, will begin the orderly liquidation
of the Fund's assets from the date of this notice. As the liquidation of the
Fund's assets begins, the Fund may not be managed in accordance with its
investment objective and policy.

 

No Shareholder meeting or vote is necessary in connection with the compulsory
redemption and therefore no action is required by you other than, if
applicable, as set out in the heading to this Notice. We thank you for your
continued support of the ICAV. Shareholders are advised to consult their
relationship manager or professional adviser in connection with any questions
you may have concerning the contents of this Notice.

 

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