PRF Prf A Shares

 
TIDMPRF 
 
This Notice is sent to you as Shareholder of the Fund. It is important and 
requires your immediate attention. If you are in any doubt as to the action to 
be taken, you are advised to consult your stockbroker, solicitor or attorney, 
accountant or other independent financial adviser. If you have sold or 
otherwise transferred your holding in the Fund, please send at once this 
document to the stockbroker or other agent through whom the sale or transfer 
was effected for transmission to the purchaser or transferee. Where 
appropriate, please pass the contents of this communication on to the 
beneficial investors of the Fund. 
 
This Notice has not been reviewed by the Central Bank of Ireland (the "Central 
Bank"), and it is possible that changes thereto may be necessary to meet the 
Central Bank's requirements. The Directors are of the opinion that there is 
nothing contained in this Notice or in the proposals detailed herein that 
conflicts with the CBI UCITS Regulations, the guidance issued by, and the 
regulations of, the Central Bank. The Directors accept responsibility for the 
information contained in this Notice. 
 
Capitalised terms used in this notice shall have the same meaning ascribed to 
them in the latest version of the Prospectus unless the context otherwise 
requires. 
 
LETTER FROM THE BOARD TO THE SHAREHOLDER OF VANECK VECTORST PREFERRED US EQUITY 
                            UCITS ETF (THE "FUND") 
 
                        VanEck VectorsT UCITS ETFs plc 
 
                               REGISTERED OFFICE 
 
                          33 Sir John Rogerson's Quay 
                                   Dublin 2 
                                   D02 XK09 
                                    Ireland 
 
 
  (A company incorporated with limited liability as an open-ended investment 
company with variable capital under the laws of Ireland with registered number 
                                    548554) 
 
Directors: Jonathan R. Simon, Bruce J. Smith, Adam Phillips, Mary Canning, Jon 
                   Lukomnik, Adrian Waters, Gijsbert Koning, 
 
                                                                 12 March, 2021 
 
Dear Shareholder, 
 
This letter is to inform you on behalf of the board of directors of the Company 
(the "Directors") about recent developments in respect of the Fund. 
 
Fund and issued share class details 
 
Share Class Name                          ISIN 
 
VanEck VectorsT Preferred US Equity UCITS IE00BDFBTR85 
ETF (USD) Class A 
 
 
Closure of the Fund 
 
The Directors have been advised by VanEck Asset Management B.V., the Management 
Company of the Fund, that the index provider for the Fund, Wells Fargo 
Securities, LLC, is transitioning out of the Strategic Indexing Business and 
that the Fund will no longer be able to track or replicate the relevant Index. 
 
After careful consideration and with the long-term interests of investors and 
the assets under management of the Fund in mind, the Directors have resolved 
that it is in the best interest of the Fund and its investors as a whole to 
effect a total redemption of all remaining Shares in the Fund as at the 
Compulsory Redemption Date (as defined below), in accordance with the 
applicable provisions of the Constitution and the Prospectus. 
 
Consequently, the Directors wish to give notice to investors in the Fund that 
it is the intention to: 
 
i.    permanently de-list the Shares of the Fund from the London Stock 
Exchange, Deutsche Börse Xetra, SIX Swiss Exchange, Borsa Italiana and Euronext 
Dublin (the "Relevant Exchanges"); 
 
ii.   permanently close the Fund to further subscriptions and redemptions; and 
 
iii.   compulsorily redeem any residual shareholdings in the Fund in accordance 
with the procedure and the dates set out under the heading "Procedure" below 
(the "Compulsory Redemption"). 
 
Procedure 
 
It is intended to close the Fund in accordance with the procedure and relevant 
dates set out below. 
 
1)   The last day of trading of the Shares in the Fund on each of the Relevant 
Exchanges shall be 12th  April 2021, (the "Final Exchange Trading Date"). 
Therefore, investors on the secondary market who wish to avoid having their 
Shares compulsorily redeemed should consider selling their Shares on a Relevant 
Exchange on or before the Final Exchange Trading Date. 
 
2)   The last day on which applications from Authorised Participants for 
subscriptions and redemptions of Shares in the Fund may be made will be 13th 
April 2021 (the "Final Dealing Date"). Therefore, final applications for 
subscriptions and redemptions from Authorised Participants in respect of the 
Final Dealing Date must be received no later than the cut-off times outlined in 
the Supplement for the Fund on 13th April 2021. 
 
3)   Investors who: 
 
  * have not sold their Shares on or before the Final Exchange Trading Date; or 
  * have not validly applied for redemption of their Shares in accordance with 
    the terms of the Prospectus, on or before the Final Dealing Date, 
 
and, in each case, who are investors in the Fund as at 23rd April 2021 (the 
"Record Date"), shall have their Shares compulsorily redeemed on 20th April 
2021 (the "Compulsory Redemption Date") which will be the day the final net 
asset value (the "Final NAV") is calculated. 
 
4)   The effective date of the cancellation of admission to and listing of the 
Shares in the Fund on the Relevant Exchanges shall be 13th April 2021 (the " 
Delisting Date"). 
 
5)   The proceeds of the Compulsory Redemption shall be distributed on or 
around 27th April 2021 (the "Settlement Date") to such person listed in the 
Company's register of Shareholders as the holder of the Shares of the Fund as 
at the Record Date. 
 
If your shareholding in the Fund is compulsorily redeemed, as set out above, it 
will be redeemed at the appropriate redemption price for the relevant Shares 
(calculated on the Compulsory Redemption Date in accordance with the terms of 
the Prospectus) and, subject to all anti-money laundering documentation 
requirements having been complied with. 
 
Please note that, investors buying and selling Shares through a broker or 
market maker/Authorised Participant and/or investors who hold Shares through a 
nominee and/or clearing agent, may not appear in the Company's register of 
Shareholders. Such investors should deal directly with the relevant broker, 
market maker/Authorised Participant, nominee or clearing agent (as relevant) in 
respect of their investment. 
 
If you do not wish to be automatically redeemed on the Compulsory Redemption 
Date, you can (if you are an Authorised Participant) redeem your Shares in the 
Fund at any time up to and including the Final Dealing Date in accordance with 
the Fund's normal redemption procedures as set out in the Prospectus. 
 
However, if a redemption request does not settle by the Record Date, such 
Shares will be compulsorily redeemed against the Final NAV Value as of the 
Compulsory Redemption Date as part of the Fund closure process as outlined 
above. 
 
You may also wish to acquire an alternative ETF within VanEck VectorsT UCITS 
ETF plc range. If you would like further information, please contact VanEck 
using the details set out at the end of this Notice. Investors should seek 
their own advice as to the suitability of any alternative investment option. 
 
Please note that as part of the closure process and before the Compulsory 
Redemption Date, the ability to meet the investment objective of the Fund may 
be compromised in the event of significant redemptions and/or as the underlying 
portfolio of the Fund is liquidated in preparation for its closure. 
Particularly, a regular rebalancing of the Funds' assets may be waived in 
advance of the closure, if it is deemed in the best interest of the 
Shareholders. Therefore, there will accordingly be an increased risk of 
tracking error in the Fund versus its Index. 
 
Costs of closure 
 
The additional costs incurred in respect of closing the Fund will be paid by 
VanEck Asset Management B.V. The Fund's normal operating costs and transaction 
costs together with any Cash Redemption Fees will continue to be borne by the 
Fund and its respective Shareholders in accordance with the terms of the 
Supplement for the Fund. 
 
Tax consequences 
 
Investors are advised to consult their own professional advisers as to the tax 
implications of the Compulsory Redemption and closure of the Fund under the 
laws of the countries of their nationality, residence, domicile or 
incorporation. 
 
If you have any queries, concerning the matters outlined in this Notice, please 
contact your local agent, or (if none) VanEck at the registered address 
provided above or at international@vaneck.com. 
 
Yours faithfully, 
 
The Directors 
VanEck VectorsT UCITS ETFs plc 
 
 
 
END 
 
 

(END) Dow Jones Newswires

March 12, 2021 05:50 ET (10:50 GMT)

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