REG - FTSE Russell - FTSE Russell Indices - Deletions

NB Private Equity PartnersAnnouncement

14/03/2022 08:45

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RNS Number : 5805E  FTSE Russell  14 March 2022

 

FTSE Russell Indices - Deletions

Evraz Plc., Polymetal International Plc., Petropavlovsk Plc., Raven Property
Group

14 March 2022

 

 

FTSE Russell has received feedback from FTSE Russell's External Advisory
Committees and a range of market participants that the ability to buy or sell
shares of the index constituents below is severely restricted due to major
international brokerage firms no longer supporting trading of these securities
and therefore there is insufficient institutional liquidity and market
depth.  Consequently, this will prevent index trackers from replicating the
ongoing inclusion of these names within the FTSE Russell indices.

Following consideration from the FTSE Russell Index Governance Board, FTSE
Russell will invoke Principle 2 of the Statement of Principles for the FTSE
Russell Equity Indices
(https://research.ftserussell.com/products/downloads/statement_of_principles.pdf)
, which states: 'The index calculation methods should be capable of being
readily understood and followed by index users.'

Accordingly, FTSE Russell will delete the following constituents from all FTSE
Russell indices in conjunction with the forthcoming March 2022 index reviews,
at zero value (effective from the open on 21 March 2022):

·      Evraz Plc. (UK, B71N6K8, FTSE All-Share, GEIS Mid Cap, FTSE 100)
- currently suspended by the Financial Conduct Authority from the Official
List

·      Polymetal International Plc. (UK, B6T5S47, GEIS Mid Cap, FTSE
All-Share, FTSE 100)

·      Petropavlovsk Plc. (UK, 3154454, GEIS Small Cap, FTSE All-Share,
FTSE 250)

·      Raven Property Group (UK, B0D5V53, FTSE All-Share, FTSE UK Small
Cap)

For the avoidance of doubt, the index calculation will continue to use the
trading price of the above constituents until the close on Friday 18 March
2022, when the close prices will be updated to zero. In the absence of a
resumption of trade, Evraz will be held at 80.89p for the duration of its
suspension until it is updated to zero at the close on 18 March 2022,
inclusive of the 18 March 2022 expiry.

FTSE UK Index Series

Evraz Plc. and Polymetal International Plc. are currently scheduled to be
deleted from the FTSE 100 Index and concurrently added to the FTSE 250 Index
at the forthcoming March 2022 FTSE UK Series' Index review.  Consequent to
their deletions from all FTSE Russell indices, NB Private Equity Partners
(B28ZZX8) and Standard Life Private Equity Trust (3047468) will now be
promoted from the FTSE UK Small Cap index and added to the FTSE 250 Index in
conjunction with the March 2022 index review, after ranking the FTSE UK
Monitored List and selecting the highest ranked non-constituent based on
Friday 11 March 2022 close prices.

The replacements for the associated FTSE UK indices will be confirmed and
communicated on Monday, 14 March 2022 (e.g. FTSE4Good UK 50).

March 2022 Indicative Review Files

The March 2022 indicative review files published on Monday 14 March 2022
(dated Monday 21 March 2022) will reflect these changes.

 

 

 

 

 

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

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 Hong Kong  +852 2164 3333
 Japan      +81 3 4563 6346
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Alternatively please visit our website at www.ftserussell.com

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© 2022 FTSE Russell

 

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