Transition to ICSD Settlement Model
WisdomTree Multi Asset Issuer PLC
LEI: 2138003QW2ZAYZODBU23
03 November 2020WisdomTree Multi Asset Issuer PLC
(the “Issuer”)Transition to ICSD Settlement ModelDear ShareholderBackgroundAs you may be aware, the Issuer currently settles trades in all securities issued by the Issuer (the Securities) using the central securities depositaries (CSD) settlement model. The securities of the Issuer (the) are issued on multiple local CSDs and, in the UK, settlement is through Euroclear UK & Ireland Limited (the CREST system). The Issuer will lose the ability to use the CREST system as an issuing CSD from 29 March 2021, when the extended period of equivalency currently agreed to by the UK and European Union will end.In order to continue to issue Securities, it is proposed to transfer the settlement of trading in the Securities to the International Central Securities Depositary structure (the ICSD Settlement Model) (the Transition) on or around 11 December 2020 (the Transition Date). In doing so, this will bring the Issuer in line with the broader European ETP market, which is increasingly migrating to the ICSD Settlement Model. The advantages of the ICSD Settlement Model are set out further below under the heading What are the operational advantages of the Transition? and within the FAQ guidance document on the WisdomTree website at: https://www.wisdomtree.eu/en-gb/-/media/eu-media-files/other-documents/faq/wisdomtree_wtma_q&a.pdf.The Transition will apply to all of the Securities, which are listed in Appendix I. Key Implications of the ChangesThe Transition will allow the Securities to continue to trade on European exchanges after 29 March 2021.You will continue to hold the same Securities following the Transition, and your rights will not be affected.The price and the Irish ISINs of the Securities will remain the same following the implementation of the Transition.Investors who currently hold their Securities through a nominee or broker account will not be impacted by the Transition and will continue to hold a beneficial entitlement to the Securities in the same way that they hold their entitlement under the current CSD settlement model.As part of the Transition, where DE ISINs for German investors have been issued, these will merge into the Irish ISINs on the Transition Date. Further information can be found in the FAQ guidance document on the WisdomTree website at https://www.wisdomtree.eu/en-gb/-/media/eu-media-files/other-documents/faq/wisdomtree_wtma_q&a.pdf.You will continue to hold, or have a beneficial entitlement to, the same Securities following the Transition; there is no exchange of Securities or sale of Securities as part of the Transition. As a result the Transition are not expected to be chargeable events for tax purposes, however investors are advised to liaise with their tax advisors in relation to the tax implications in individual circumstances.2. Proposed Transition to the ICSD Settlement Model
LEI: 2138003QW2ZAYZODBU23
03 November 2020WisdomTree Multi Asset Issuer PLC
(the “Issuer”)Transition to ICSD Settlement ModelDear ShareholderBackgroundAs you may be aware, the Issuer currently settles trades in all securities issued by the Issuer (the Securities) using the central securities depositaries (CSD) settlement model. The securities of the Issuer (the) are issued on multiple local CSDs and, in the UK, settlement is through Euroclear UK & Ireland Limited (the CREST system). The Issuer will lose the ability to use the CREST system as an issuing CSD from 29 March 2021, when the extended period of equivalency currently agreed to by the UK and European Union will end.In order to continue to issue Securities, it is proposed to transfer the settlement of trading in the Securities to the International Central Securities Depositary structure (the ICSD Settlement Model) (the Transition) on or around 11 December 2020 (the Transition Date). In doing so, this will bring the Issuer in line with the broader European ETP market, which is increasingly migrating to the ICSD Settlement Model. The advantages of the ICSD Settlement Model are set out further below under the heading What are the operational advantages of the Transition? and within the FAQ guidance document on the WisdomTree website at: https://www.wisdomtree.eu/en-gb/-/media/eu-media-files/other-documents/faq/wisdomtree_wtma_q&a.pdf.The Transition will apply to all of the Securities, which are listed in Appendix I. Key Implications of the ChangesThe Transition will allow the Securities to continue to trade on European exchanges after 29 March 2021.You will continue to hold the same Securities following the Transition, and your rights will not be affected.The price and the Irish ISINs of the Securities will remain the same following the implementation of the Transition.Investors who currently hold their Securities through a nominee or broker account will not be impacted by the Transition and will continue to hold a beneficial entitlement to the Securities in the same way that they hold their entitlement under the current CSD settlement model.As part of the Transition, where DE ISINs for German investors have been issued, these will merge into the Irish ISINs on the Transition Date. Further information can be found in the FAQ guidance document on the WisdomTree website at https://www.wisdomtree.eu/en-gb/-/media/eu-media-files/other-documents/faq/wisdomtree_wtma_q&a.pdf.You will continue to hold, or have a beneficial entitlement to, the same Securities following the Transition; there is no exchange of Securities or sale of Securities as part of the Transition. As a result the Transition are not expected to be chargeable events for tax purposes, however investors are advised to liaise with their tax advisors in relation to the tax implications in individual circumstances.2. Proposed Transition to the ICSD Settlement Model
