PSWU Inv Dynamic Us

 
TIDMIRSH TIDMEQQQ TIDMPSWC TIDMEQGB TIDMEUHD TIDMEMHD TIDMPSRW TIDMPSRM TIDMPSRE TIDMPSRF TIDMUKHD TIDMSBUY TIDMHDLV TIDMPQVM TIDMSPVX TIDMHYFA TIDMFAGB 
 
Results of Meetings 
 
Invesco Markets III plc 
 
16 November 2018 
 
RNS ANNOUNCEMENT 
 
Results of Meetings of Invesco Markets III plc 
 
Invesco Markets III Public Limited Company (the "Company") - Results of Scheme 
Meeting and Extraordinary General Meeting in relation to a Scheme of 
Arrangement in which it is proposed to change the share settlement structure of 
the Company to centralise the settlement of shares  of all Sub-Funds of the 
Company within an International Central Securities Depositary ("ICSD") 
settlement model (Resolutions approved). 
 
16 November 2018 
 
At the Scheme Meeting held at 32 Molesworth Street, Dublin 2 on 16 November 
2018 at 10:15 am, the resolution to approve the scheme of arrangement, as 
described in the circular issued to shareholders of the Company dated 19 
October 2018 (the "Scheme"), was passed.  This shareholder circular is 
available on etf.invesco.com. 
 
At the Extraordinary General Meeting of the Company held at 32 Molesworth 
Street, Dublin 2 on 16 November 2018 at 10:30 am, a resolution was passed to 
approve the Scheme and to authorise the Company's directors to take such action 
as they deem necessary or appropriate to implement the Scheme.  A resolution to 
approve the adoption of new Articles of Association of the Company (the " 
Articles") with effect from the effective date of the Scheme was also passed. 
 
Following the passing of all of the resolutions mentioned above, the 
implementation of the Scheme by the Company is conditional upon approval of the 
Scheme by the Irish High Court and the issue of an order of the High Court 
approving the Scheme (the "Court Order"), the delivery of the Court Order to 
the Companies Registration Office (the "CRO") in Ireland and the registration 
of such Court Order by the CRO.  Subject to the above conditions being met, the 
directors of the Company anticipate that the effective date for implementing 
the Scheme will occur towards the end of the last quarter of 2018 or in the 
first quarter of 2019, with the exact date to be fixed by the High Court.  This 
date (and any changes or updates to the Scheme timetable) will be announced via 
RNS/stock exchange announcement and will also be available on etf.invesco.com. 
 
                 Activity                    Anticipated Timeline (Subject to Change) 
 
Announcement to the market on whether the   December 2018 or once all High Court 
Scheme has been approved by the High Court  hearings have taken place 
and, if it has, the effective date for 
implementing the Scheme 
 
Effective Date of the Scheme                On a date to be fixed by the High Court, 
                                            anticipated to be towards the end of the 
                                            last quarter of 2018 or in the first 
                                            quarter of 2019 
 
Background to the proposal to change the share settlement structure of the 
Company 
 
The sub-funds of the Company are exchange traded funds and their participating 
shares are listed on multiple stock exchanges across Europe. Each exchange 
typically operates its own central securities depositary ("CSD") for settlement 
functions. Trading and settling participating shares under this structure 
involves moving the participating shares between various CSDs, which is 
complex, costly and inefficient. 
 
Currently the sub-funds of the Company do not use the ICSD model, as listed 
below: 
 
                Sub-Fund Name                                  IE ISIN 
 
Invesco Dynamic US Markets UCITS ETF          ISIN: IE00B23D9240 
 
Invesco EQQQ NASDAQ-100 UCITS ETF             ISIN: IE00BFZXGZ54*; IE00BYVTMT69*; 
                                              IE0032077012; IE00BYVTMS52*; IE00BYVTMW98 
 
Invesco EuroMTS Cash 3 Months UCITS ETF       ISIN: IE00B3BPCH51* 
 
Invesco EURO STOXX High Dividend Low          ISIN: IE00BZ4BMM98 
Volatility UCITS ETF 
 
Invesco FTSE UK High Dividend Low Volatility  ISIN: IE00BYYXBD20 
UCITS ETF 
 
Invesco FTSE Emerging Markets High Dividend   ISIN: IE00BYYXBF44 
Low Volatility UCITS ETF 
 
Invesco FTSE RAFI All-World 3000 UCITS ETF    ISIN: IE00B23LNQ02 
 
Invesco FTSE RAFI Emerging Markets UCITS ETF  ISIN: IE00B23D9570 
 
Invesco FTSE RAFI Europe Mid-Small UCITS ETF  ISIN: IE00B23D8Y98 
 
Invesco FTSE RAFI Europe UCITS ETF            ISIN: IE00B23D8X81 
 
Invesco FTSE RAFI UK 100 UCITS ETF            ISIN: IE00B23LNN70 
 
Invesco FTSE RAFI US 1000 UCITS ETF           ISIN: IE00B23D8S39 
 
Invesco Global Buyback Achievers UCITS ETF    ISIN: IE00BLSNMW37 
 
Invesco S&P 500 High Dividend Low Volatility  ISIN: IE00BYVTMX06* 
UCITS ETF                                     IE00BWTN6Y99 
 
Invesco S&P 500 VEQTOR UCITS ETF              ISIN: IE00BX8ZXS68 
 
Invesco S&P 500 QVM UCITS ETF                 ISIN: IE00BDZCKK11 
 
Invesco US High Yield Fallen Angels UCITS ETF ISIN: IE00BYVTMY13*; IE00BD0Q9673; 
                                              IE00BYVTMZ20*; IE00BYVTN047 
 
*share class not admitted to trading on the London Stock Exchange 
 
The directors of the Company are of the view that the ICSD settlement model 
provides a more streamlined centralised settlement structure, which they expect 
will result in improved liquidity and spreads for investors, and will reduce 
risk in the settlement process. 
 
Converting the sub-funds of the Company to the ICSD model will also bring all 
of the Company's sub-funds into one consistent settlement structure which is 
expected to make navigating the settlement structures for the sub-funds more 
straightforward. 
 
Background to proposed adoption of new Articles of Association of the Company 
 
The new Articles incorporate a small number of amendments to the existing 
Articles in order to facilitate the adoption of the ICSD settlement model, 
including, in particular, amendments to enable the common depositary's nominee, 
when it becomes the sole registered shareholder of the Company following 
effectiveness of the Scheme and adoption of the ICSD settlement model, to form 
a quorum (by itself) for class and general meetings of the Company.  In effect, 
the new Articles enable the common depositary's nominee to vote shares 
registered in its name at class or general meetings (the quorum required would 
otherwise be two shareholders entitled to vote). 
 
Further enquiries - please contact: 
 
Invesco:           +44 2033701184 
 
-END- 
 
 
 
END 
 

(END) Dow Jones Newswires

November 16, 2018 07:31 ET (12:31 GMT)

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