REG - WT Issuer ICAV - NOTICE OF COMPULSORY REDEMPTIONS
12/11/2025 17:00
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RNS Number : 2979H WisdomTree Issuer ICAV 12 November 2025
NOTICE OF
COMPULSORY REDEMPTIONS
OF
WISDOMTREE RECYCLING UCITS ETF
WISDOMTREE GLOBAL AUTOMOTIVE INNOVATORS UCITS ETF
(the "Closing Funds")
SUB-FUNDS OF
WISDOMTREE ISSUER ICAV
(the "ICAV")
_________________________________________________________________________________
THIS SHAREHOLDER LETTER IS SENT TO YOU AS A SHAREHOLDER IN WISDOMTREE ISSUER
ICAV. IT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IF YOU ARE IN ANY
DOUBT AS TO THE ACTION TO BE TAKEN, YOU SHOULD IMMEDIATELY CONSULT YOUR
STOCKBROKER, BANK MANAGER, SOLICITOR OR ATTORNEY OR OTHER PROFESSIONAL
ADVISOR.
If you have transferred your holding in the ICAV, please send this document to
the stockbroker, bank manager or other agent through whom the transfer was
effected for transmission to the transferee.
Terms used in this shareholder letter and not otherwise defined bear the same
meanings as where used in the prospectus of the ICAV dated 23 June 2025
available from WisdomTree's website at the following link:
https://www.wisdomtree.eu/en-gb/-/media/eu-media-files/key-documents/prospectus/wt/prospectus-wisdomtree.pdf
(https://www.wisdomtree.eu/en-gb/-/media/eu-media-files/key-documents/prospectus/wt/prospectus-wisdomtree.pdf)
Dated 14 August 2025
To: All shareholders in the Closing Funds
NOTICE OF COMPULSORY REDEMPTIONS AND FUND CLOSURES
Dear Shareholder,
1. Background
WisdomTree ("WisdomTree") continuously reviews its product set to ensure that
all of its products are compelling and differentiated investment offerings
within the current exchange traded fund landscape. As a result of a
comprehensive review, and after carefully evaluating factors such as market
demand, competitive positioning and market viability, WisdomTree has
identified certain sub-funds of the ICAV which have not gathered significant
turnover or demand from investors and is therefore closing these funds in
order to better serve products which have enjoyed more traction and make room
for more relevant innovation going forward.
This announcement is being made 3 months ahead of the Compulsory Redemption
Date (as defined below) to give investors sufficient time to make their
investment decisions. During this time, we are dedicated to ensuring the
process around the closure of these products is seamless for our investors.
The ICAV wishes to notify shareholders of compulsory redemptions of all share
classes of the Closing Funds, the details of which are set out below.
2. Compulsory Redemption
Notice of Compulsory Redemption
The ICAV gives notice, pursuant to paragraph 10.1.7 of the ICAV's Instrument
of Incorporation (the "Instrument"), that all of the shares (the "Redeeming
Shares") in all the share classes of the Closing Funds (as set out at Appendix
1), are to be compulsorily redeemed and that the ICAV has nominated 25
November 2025 to be the compulsory redemption date for all share classes of
the Closing Funds (the "Compulsory Redemption Date"). The ICAV will give
further notice after the Compulsory Redemption Date of the redemption proceeds
payable to shareholders.
Deviation from Investment Policy
The ICAV may need to sell off some of the underlying assets in the Closing
Funds in the days leading up to the relevant Compulsory Redemption Date to
ensure an efficient liquidation of the underlying assets. This could result in
the relevant Closing Fund no longer tracking the index as per its investment
policy, and may impact the tracking error of the relevant Closing Fund between
the last trading day on exchange and the relevant Compulsory Redemption Date.
For Authorised Participants
For authorised participants that have entered into authorised participant
agreements with the ICAV, redemption requests received (or deemed received)
prior to the dealing deadlines for the relevant Closing Fund on 20 November
2025 will be valid and will be processed in the normal way. Redemption
requests received (or deemed received) after that day will be invalid. Any
Redeeming Shares then remaining in issue will be compulsorily redeemed in
accordance with the Prospectus and the relevant Supplement.
For all Shareholders and End Investors
For all shareholders on the register and underlying investors ("End
Investors"), it is expected that the Redeeming Shares will stop trading on
their respective exchanges after the close of trading on or around 13 November
2025 or prior to trading on the 14 November 2025. If you wish to sell your
Redeeming Shares before the compulsory redemption, you should do so by the
close of trading on this date.
Please note that there will be a gap between the last trading day on exchange
and the relevant Compulsory Redemption Date. There will also be a further gap
between the relevant Compulsory Redemption Date and the payment of the
redemption proceeds to shareholders whilst these payments are processed. End
Investors are therefore strongly advised to contact their advisors and brokers
if they wish to sell their Redeeming Shares in advance of the last trading day
on exchange in order to avoid being part of the compulsory redemption process.
Actions to be taken
On or prior to 13 November 2025, being the expected last day where trading on
exchange will be possible, End Investors can take two actions:
1. Sell their Redeeming Shares in advance of the last trading day on
exchange either independently or by contacting their broker or financial
advisor; or
2. Do nothing and be part of the compulsory redemption process and receive
payment on the redemption of your Redeeming Shares as outlined below.
Payment of redemption proceeds
It is expected that the redemption proceeds in respect of the compulsory
redemption of each of the Redeeming Shares will be sent on or around 2
December 2025 to Citibank Europe plc (the "Common Depositary") or its nominee.
Through an automated process, the Common Depositary will instruct onward
payments which will pass through nominees to the End Investors. The Common
Depositary will make this payment on or around 4 December 2025. Such payments
will be made in the relevant share class currency as set out in Appendix 1.
End Investors who are not named on the register of Shareholders which is
maintained on behalf of the ICAV, will receive the proceeds of the compulsory
redemption from their intermediary/broker. Please note that the ICAV has no
control over or visibility on the payment of redemption proceeds to End
Investors by individual intermediaries/brokers. There may be delays in these
payments reaching End Investors and they are advised to contact their brokers
or financial advisers for more information.
3. Further information
For further information on the compulsory redemption please refer to the
Compulsory Redemption Q&A included in Appendix 2 or contact WisdomTree UK
Limited / WisdomTree Ireland Limited at europesupport@wisdomtree.com
(mailto:infoeu@wisdomtree.com) .
Yours faithfully
_______________________________
Director
For and on behalf of
WisdomTree Issuer ICAV
APPENDIX 1
LIST OF CLOSING FUNDS AND THE REDEEMING SHARE CLASSES
Closing Fund Redeeming Share Class ISIN WKN Exchanges
WisdomTree Recycling UCITS ETF WisdomTree Recycling UCITS ETF - USD Acc IE000LG4J7E7 A3DGND Borsa Italiana,
SIX,
Xetra,
LSE,
BMV
WisdomTree Global Automotive Innovators UCITS ETF WisdomTree Global Automotive Innovators UCITS ETF - USD Acc IE000TB3YTV4 A3DP9Y Borsa Italiana,
Xetra,
LSE,
SIX
BMV
APPENDIX 2
Compulsory Redemption Q&A
EUROPEAN EXCHANGE TRADED FUNDS TO BE COMPULSORY REDEEMED
WisdomTree Issuer ICAV (WisdomTree) has announced that it will be compulsorily
redeeming 2 Exchange Traded Funds ("ETFs") from its UCITS platform on the
compulsory redemption dates referenced below. This means that the ETFs being
closed, which are listed below, and their underlying share classes will
terminate and be compulsorily redeemed on this date.
1. WHICH PRODUCTS WILL BE CLOSING AND WHEN?
This announcement impacts the following 2 UCITS ETFs only:
Product Compulsory Redemption Date
WisdomTree Recycling UCITS ETF Tuesday 25 November 2025
WisdomTree Global Automotive Innovators UCITS ETF
The full share class listings of these products can be found later in the
document.
2. WHAT ARE THE KEY DATES AND STAGES FOR THE UCITS ETF CLOSURES?
Here are the key dates and steps for the closing down of the UCITS ETFs.
Please note that the ETFs will continue to price daily until the Compulsory
Redemption Date (as defined in the table above). Please refer to Q.8 for
details on each stage of the timeline.
TIMELINE PROCESS STEPS
Thursday 13 November 2025 Last day of trading on relevant Stock Exchanges
(All investors)
Tuesday 18 November 2025 Last trading day for Creations
(Authorised Participants only)
Thursday 20 November 2025 Last trading day for Redemptions
(Authorised Participants only)
Tuesday 25 November 2025 Compulsory redemption date
Tuesday 1 December 2025 Record Date for Shareholders and Final Price Announcement
Thursday 4 December 2025 Compulsory redemption payment date to Shareholders
3. WHY IS THIS HAPPENING?
WisdomTree continuously reviews its product set to ensure that it provides
compelling and differentiated investment offerings within the current ETF
landscape. As a result of a comprehensive review and after carefully
evaluating factors like the investor's best interests, market demand,
competitive positioning and market viability, WisdomTree has identified
funds which have not gathered enough investment or demand from investors and
which are expensive to run; therefore, it is carrying out these fund closures
to better serve products which have enjoyed more traction and make room for
more relevant innovation going forward.
The announcement has been made with 3 months' notice of the effective closure
date to give investors as long as possible to make their investment decisions.
During this time, we are dedicated to ensuring the process around the closure
of these products is seamless for our investors.
4. DOES THIS IMPACT OTHER WISDOMTREE ETFs?
No. The closing of the funds only impacts the 2 ETFs listed above.
5. ARE YOU LOOKING AT CLOSING MORE ETFs?
No. WisdomTree is not planning to close more ETFs. As mentioned, WisdomTree
continuously reviews its product set to ensure that it provides compelling and
differentiated investment offerings.
WisdomTree will continue to offer one of the most comprehensive product sets
in Europe with products available across commodities, equities, foreign
exchange, fixed income, digital assets and alternatives, after this process
has completed.
A range of our other products available can be found by accessing this link:
www.wisdomtree.eu (http://www.wisdomtree.eu)
6. IF I AM INVESTED IN AN ETF THAT IS CLOSING, WHAT DO I NEED TO DO?
Please note that the ETFs, which are due to close, will stop trading on their
respective exchanges after the close of trading on or around 13 November 2025
or prior to trading on the 14 November 2025. This is necessary to help the
ETFs wind down in an orderly way.
Investors have 2 options:
(i) Investors can sell their positions on or prior to the last
exchange trading day on 13 November 2025; or
(ii) Investors can wait until the compulsory redemption takes
effect on the compulsory redemption dates and they will receive their proceeds
on or after 4 December 2025.
Please note only investors capable of trading off-exchange (also known as,
Over-The-Counter) will be able to sell their positions between 14 November
2025 and 20 November 2025.
Please see the timeline and key stages in Q2 and the process outlined in more
detail in Q8.
7. IF I AM INVESTED IN AN ETF THAT IS CLOSING AND I DON'T DO ANYTHING,
WHAT HAPPENS?
Following the close of trading on exchange on or around 13 November 2025, any
remaining investors will automatically be part of the compulsory redemption
process. Please note that there will be a gap between the last trading date on
exchange and the compulsory redemption date or final net asset value ("NAV")
date which might mean there is a difference in the final NAV and the NAV of 13
November 2025.
There will also be a further gap between the compulsory redemption date and
the payment date when beneficial shareholders will receive the cash payments
in respect of their ETFs.
If you are holding affected ETF(s) through an intermediary or broker, it could
take longer for the cash payments to be paid to you and your broker may apply
additional fees. Please contact your intermediary or broker to discuss this.
8. WHAT SHOULD I EXPECT TO HAPPEN IN THE PROCESS OF CLOSING DOWN AN ETF?
The following timeline can provide additional detail about the process and
what investors should expect at each stage.
14 August 2025
The date of the announcement notifying investors of the expected product
closures. The notice period between the date of the announcement and the date
of closure is intended to allow investors flexibility in managing their
position.
We encourage investors to sell their shares in the ETFs listed for closure on
or prior to 13 November 2025, being the date on which these ETFs are expected
to have their final trading day on exchange. Alternatively, investors may stay
invested in the products and be compulsory redeemed on or around 25 November
2025 through the process described below.
13 November 2025
This is the last day of exchange trading for the ETFs listed for closure as
they will be delisted at the close on 13 November 2025 or prior to open on the
14 November 2025. After 13 November 2025, investors will no longer be able to
buy or sell the products on exchange. Please note, from 14 November 2025 to 20
November 2025, it may still be possible in some circumstances to trade out of
your position "over-the-counter" (OTC) by contacting your broker or trading
platform.
20 November 2025
This is the last day that the ETFs for closure will accept redemptions. After
this date, any investor holdings will be subject to the compulsory redemption.
25 November 2025
As set out in Q2 above, these are the compulsory redemption dates and the
dates at which the ETFs for closing will be valued for the final time and
redeemed. The final value of investor's holdings will be based upon the price
(also known as the NAV) of the products which are closing as of the close on
this date. WisdomTree will be communicating the final NAV of the ETFs for
closing on or around 25 November 2025. Investors will be able to find all
final NAVs published on the WisdomTree website www.wisdomtree.eu by looking up
the relevant ETF. An updated table with final prices will also be published.
4 December 2025
This is the date on which the Issuer expects to make all payments to
shareholders as per the record date of 1 December 2025. Payments will be made
in the relevant share class currency of the ETF. Please refer to the product
table on the back page of this document for more information.
To the extent that you hold the products which are closing through a broker,
custodian or other intermediary, please contact that intermediary for
information on how they will pass on the payments. Typically, you should
expect to receive the payment in much the same way you receive a dividend, a
coupon on a bond or the payment of principle when the bond matures. It may
take longer for the payment to find its way to your account if you hold the
share through a broker or a nominee account of another kind and your broker
may apply additional fees.
Please note that WisdomTree has no control over or visibility on the payment
of redemption proceeds by individual intermediaries/brokers. We strongly
recommend that investors contact their broker, bank or financial adviser who
will be able to provide further information regarding how this process will
work for you.
9. WHY IS THERE A GAP BETWEEN THE LAST EXCHANGE TRADING DAY AND THE
COMPULSORY REDEMPTION DATE?
The reason why the secondary market trading has been suspended around 8
working days ahead of the closures is because the secondary market is made up
of many participants and the trades can flow through numerous investment
intermediaries who are trading on various exchanges and market venues. As the
ETF trading ecosystem is subject to various levels of intermediation, this can
result in a time lag between an end investor trading an ETF and that ETF
position being reflected in the accounts of the various settlement systems. To
ensure that the correct beneficial owner receives the proceeds from the ETFs
which are closing, we have built in sufficient time for this settlement to
happen.
10. IF I AM THE LAST INVESTOR IN THE ETFS BEFORE CLOSE, WILL I INCUR
ADDITIONAL COSTS?
No. There are no additional costs charged by WisdomTree and borne by the
investor due to the ETF closures.
11. WILL THE ETFs DEVIATE FROM THE BENCHMARK DURING LIQUIDATION?
The investment managers may need to sell off some of the funds underlying
securities in the days leading up to the final NAV date to ensure efficient
liquidation of the portfolios. This could result in the fund no longer
tracking the index as per its investment objective and can cause additional
tracking error. If this does occur, it is only expected to occur in the few
days ahead of the final NAV date.
LIST OF ETFs TO BE COMPULSORY REDEEMED
Product Name ISIN WKN Shareclass Currency Exchange Exchange Ticker
WisdomTree Recycling UCITS ETF - USD Acc IE000LG4J7E7 A3DGND EUR Xetra WTRD
Borsa Italiana WRCY
SIX Swiss Exchange WRCY
London Stock Exchange WRCY
Bolsa Mexicana de Valores WRCY
WisdomTree Global Automotive Innovators UCITS ETF - USD Acc IE000TB3YTV4 A3DP9Y EUR Xetra WTGA
Borsa Italiana WCAR
SIX Swiss Exchange WCAR
London Stock Exchange WCAR
Bolsa Mexicana de Valores WCAR
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