1695 小麦ＥＴＦ 2019-08-09 13:30:00
議決権行使方法等についてのお知らせ [pdf]
令和元年 8 月 9 日
各位
外国投資法人名 イーティーエフエス・コモディティ・セキュリティーズ・
リミテッド
代 表 者 ヒラリー・ジョーンズ
管 理 会 社 名 ETF セキュリティーズ・マネジメント・カンパニー
リミテッド（管理会社コード 16724）
代 表 者 ヒラリー・ジョーンズ
問 合 せ 先 ＴＭＩ総合法律事務所
担 当 者 中川秀宣 （TEL 03-6438-5660）
議決権行使方法等についてのお知らせ
ETF セキュリティーズ・マネジメント・カンパニー・リミテッド（以下、 「本管理会社」といいま
す。）を管理会社に、イーティーエフエス・コモディティ・セキュリティーズ・リミテッド（以下、
「本発行体」といいます。 ）を外国投資法人として東京証券取引所に上場する以下の 4 つの ETF 銘柄
（以下、総称して「本 ETF 銘柄」といいます。）について、本発行体は、令和元年 8 月 8 日付「額面
額変更を目的とした投資者総会招集に関するお知らせ（速報） 」でお知らせしましたとおり、本 ETF
銘柄に係る額面額の変更（以下、総称して「本額面額の変更」といいます。 ）を目的とした投資者総
会（以下「本総会」といいます。 ）を招集する旨を決定しました。本発行体は、本総会での本 ETF 銘
柄の議決権行使の内容、行使方法とその期限につき、以下のとおりお知らせいたします。
本 ETF 銘柄 コード
ETFS 総合上場投資信託（商品 ETF） 1684
ETFS 農産物上場投資信託（ｱｸﾞﾘ ETF） 1687
ETFS 穀物上場投資信託（穀物 ETF） 1688
ETFS 小麦上場投資信託（小麦 ETF） 1695
記
1． 本総会
日時： 令和元年 8 月 21 日午前 9 時（現地時間）
場所： アール・アンド・エイチ・ファンド・サービシズ （ジャージー）リミテッド （R&H Fund
Services (Jersey) Limited）英国領チャンネル諸島、ジャージー、JE4 8PW、セント・
ハリアー、ピア・ロード 31、オーデナンス・ハウス（Ordnance House, 31 Pier Road,
St. Helier, Jersey JE4 8PW）
議案： 本 ETF 銘柄の額面額の引下げをもたらすマイクロ投資信託の額面額の変更
本発行体は、その発行するマイクロ投資信託の額面の引き下げを提案しています。い
くつかのマイクロ投資信託はその額面の引下げが本 ETF 銘柄の額面に影響を及ぼします。
影響を与えるマイクロ投資信託の額面の引下げの議案については、 ETF 銘柄を保有す 本
る投資者は議決権を行使できます。 ETF 銘柄の額面に影響を与える議案は以下のとお
本
りです。
本総会における議案 現在の額面額 変更案
影響を受ける本 ETF 銘柄
コーヒー・マイクロ商品投資信託（Coffee Micro 0.00000050 米ドル 0.00000008 米ドル
Securities）の額面額の引下げ
ETFS 総合上場投資信託（商品 ETF）
ETFS 農産物上場投資信託（ｱｸﾞﾘ ETF）
カンザス小麦マイクロ商品投資信託（Kansas Wheat 0.00000125 米ドル 0.0000002 米ドル
Micro Securities）の額面額の引下げ
ETFS 総合上場投資信託（商品 ETF）
ETFS 農産物上場投資信託（ｱｸﾞﾘ ETF）
ETFS 穀物上場投資信託（穀物 ETF）
小麦マイクロ商品投資信託（Wheat Micro Securities） 0.00000025 米ドル 0.00000005 米ドル
の額面額の引下げ
ETFS 総合上場投資信託（商品 ETF）
ETFS 農産物上場投資信託（ｱｸﾞﾘ ETF）
ETFS 穀物上場投資信託（穀物 ETF）
ETFS 小麦上場投資信託（小麦 ETF）
砂糖マイクロ商品投資信託（Sugar Micro Securities） 0.00000300 米ドル 0.00000065 米ドル
の額面額の引下げ
ETFS 総合上場投資信託（商品 ETF）
ETFS 農産物上場投資信託（ｱｸﾞﾘ ETF）
これらの議案が全て可決されますと、本 ETF 銘柄の額面が以下のとおり影響を受けます。
本 ETF 銘柄名 現在の額面額 変更後の額面額
ETFS 総合上場投資信託（商品 ETF） 1.735273210 米ﾄﾞﾙ 0.8 米ﾄﾞﾙ
ETFS 農産物上場投資信託（ｱｸﾞﾘ ETF） 1.224601000 米ﾄﾞﾙ 0.4 米ﾄﾞﾙ
ETFS 穀物上場投資信託（穀物 ETF） 0.834185750 米ﾄﾞﾙ 0.3 米ﾄﾞﾙ
ETFS 小麦上場投資信託（小麦 ETF） 0.25000000 米ﾄﾞﾙ 0.05 米ﾄﾞﾙ
決議：本総会の議案に対する本国における議決権の行使は、令和元年 8 月 19 日午前 9 時（現地
時間）までに議決権行使書を送付することによりなされます。日本における本 ETF 銘柄の
実質保有者は、株式会社証券保管振替機構を通じて議決権行使を行うことになります。
なお、当該議題は投資者の金額ベースでの過半数の出席をもって成立しその出席投資者の
金額ベースでの 75％以上の賛成をもって可決されます。定足数に達しない場合には本総会は
議長が別途決定する日まで延会となります。
2． 基準日の内容
本総会において議決権を行使することができる投資者は、上記本 ETF 銘柄を含む本発行体が
発行する証券を、現地時間令和元年 8 月 19 日午後 6 時（日本時間 令和元年 8 月 20 日午前 2
時に当たりますが、 株式会社証券保管振替機構が運営する外国株券等保管振替決済制度上の基
準日は 8 月 19 日となります。）において本 ETF 銘柄を保有している投資者です。（但し、延
）
会となった場合には、当該延会の日の 2 日前の日の午後 6 時（現地時間）において保有してい
る投資者です。
3． 議決権行使の内容
本総会の招集通知を含む本件の関連書類（別紙）は、本 ETF 銘柄の投資口事務取扱機関であ
る三井住友信託銀行株式会社 証券代行部に備置されます。
（関連書類の備置場所）
（東京） 東京都千代田区丸の内 1 丁目 4 番 1 号 （大阪） 大阪府大阪市中央区北浜 4 丁目 5 番 33 号
三井住友信託銀行株式会社 証券代行部 三井住友信託銀行株式会社 証券代行部
(お問い合わせ)
三井住友信託銀行株式会社 証券代行部
（受付時間：平日 9:00～17:00）
0120-782-031 (通話料無料)
4． 行使方法と期限
本総会において付議される議案について、 株式会社証券保管振替機構に議決権を行使するよう
指図を希望する日本における実質投資者は、別紙 1 の議決権代理行使指図書を、同指図書の所
定の手続きに従って、別紙 2 の不動化証明書と共に、三井住友信託銀行株式会社 証券代行部
宛にご提出してください。
提出期限は以下のとおりです。
提出期限：令和元年 8 月 14 日 午後 1 時（必着）
*なお、議決権代理行使指図書の提出は、本日以降、行っていただけます。
別紙 1 議決権代理行使指図書
別紙 2 不動化証明書
別紙 3-1 投資者総会招集通知（抄訳）
別紙 3-2 投資者総会招集通知（ETFS Commodity Securities PA Reduction
Circular 原文）
以上
別紙 1
イーティーエフエス・コモディティ・セキュリティーズ・リミテッド
議決権代理行使指図書
株式会社証券保管振替機構 御中
私／当社は、イーティーエフエス・コモディティ・セキュリティーズ・リミテッド（以下「発行体」
といいます。）の本 ETF 銘柄の保有者として、2019 年 8 月 21 日開催の発行体の投資者総会（延会・継
続会の場合には当該延会・継続会を含みます。 ）に係る特別決議の議案について、貴社が以下（○ 印
で表示）のとおり議決権を行使するよう、本書をもって指図します。
議長に一任します。議長の裁量により議決権を行使してください。なお、下記議案以外の事項が本総会において提出・付議された場合
には、議長の裁量に基づいて議決権を行使してください。
※ 上記の「議長に一任します。」に〇印をつけない場合には、下の「議案ごとに指図します。」を選択したものと取り扱います。
議案ごとに指図します。下表の賛成／反対の指示に従い、議決権を行使してください。また、下記議案以外の事項が本総会において提
出・付議された場合には、貴社の裁量に基づいて議決権を行使してください。
※ 各議案において、賛成／反対のいずれにも〇印をつけない場合、その他各議案についての賛否が明らかでない場合においては、その議案に
ついて「賛成」を指図したものとして取り扱います。
本総会における議案 東証コード ISIN コード 議決権代理行使指図
自己が保有している本 ETF 銘柄ごとに賛否に〇を
記入することで指図してください。 賛成 反対
コーヒー・マイクロ商品投資信託（Coffee Micro
Securities）の額面額の引下げ
ETFS 総合上場投資信託（商品 ETF） 1684 GB00B15KY989
ETFS 農産物上場投資信託（ｱｸﾞﾘ ETF） 1687 GB00B15KYH63
カンザス小麦マイクロ商品投資信託（Kansas Wheat
Micro Securities）の額面額の引下げ
ETFS 総合上場投資信託（商品 ETF） 1684 GB00B15KY989
ETFS 農産物上場投資信託（ｱｸﾞﾘ ETF） 1687 GB00B15KYH63
ETFS 穀物上場投資信託（穀物 ETF） 1688 GB00B15KYL00
小麦マイクロ商品投資信託（Wheat Micro Securities）
の額面額の引下げ
ETFS 総合上場投資信託（商品 ETF） 1684 GB00B15KY989
ETFS 農産物上場投資信託（ｱｸﾞﾘ ETF） 1687 GB00B15KYH63
ETFS 穀物上場投資信託（穀物 ETF） 1688 GB00B15KYL00
ETFS 小麦上場投資信託（小麦 ETF） 1695 GB00B15KY765
砂糖マイクロ商品投資信託（Sugar Micro Securities）
の額面額の引下げ
ETFS 総合上場投資信託（商品 ETF） 1684 GB00B15KY989
ETFS 農産物上場投資信託（ｱｸﾞﾘ ETF） 1687 GB00B15KYH63
令和元年8 月 日
投資者住所
投資者氏名
指 する保 口 （保有する本 ETF 銘柄の口数を以下に記入してください。）
図 有 数
本 ETF 銘柄 コード 保有口数
ETFS 総合上場投資信託（商品 ETF） 1684 ＿＿＿＿＿＿＿＿口
ETFS 農産物上場投資信託（ｱｸﾞﾘ ETF） 1687 ＿＿＿＿＿＿＿＿口
ETFS 穀物上場投資信託（穀物 ETF） 1688 ＿＿＿＿＿＿＿＿口
ETFS 小麦上場投資信託（小麦 ETF） 1695 ＿＿＿＿＿＿＿＿口
（ご注意）
1. この指図権の基準日は、現地時間 令和元年 8月 19日午後 6 時（日本時間 令和元年 8 月 20 日午前 2 時に当たりますが、
株式会社証券保管振替機構が運営する外国株券等保管振替決済制度上の基準日は 8 月 19 日となります。（但し、延会 ）
となった場合は延期後の本総会の 2 日前の日の午後 6 時（現地時間）となります。 ）です。この指図書をご提出される
投資者には、この指図書と併せてお取引の証券会社が発行する「不動化証明書」 （別紙 3 をご参照ください。 ）のご提出
をお願いしております。
2. 指図権を有する方が法人の場合には、お手数ですが、法人名と共に代表者名もご記入下さい。
3. この指図書は、お取引の証券会社が発行する「不動化証明書」と共に、令和元年 8 月 14 日午後 1 時（日本時間）まで
に指図書原本を以下の受付窓口に直接ご提出ください。上記期限までにこの指図書が到着しない場合には、その議案
について「賛成」として取扱われます。
（東京） 東京都千代田区丸の内 1 丁目 4 番 1 号 （大阪） 大阪府大阪市中央区北浜 4 丁目 5 番 33 号
三井住友信託銀行株式会社 証券代行部 三井住友信託銀行株式会社 証券代行部
なお、ご郵送の場合には、下記場所へ令和元年 8 月 14 日午後 1 時（日本時間）までに指図書原本が到着するようにご送
付ください。
〒168－0063
東京都杉並区和泉 2 丁目 8 番 4 号
三井住友信託銀行株式会社 証券代行部 気付
株式会社証券保管振替機構
(お問い合わせ)
三井住友信託銀行株式会社 証券代行部
（受付時間：平日 9:00～17:00）
0120-782-031 (通話料無料)
別紙 2
不動化証明書
＿＿＿＿＿＿＿＿＿＿は、＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿
（外国株券等機構加入者名） （外国株券等実質株主の住所及び氏名 法人の場合には代表者名もご記入ください。
）
が保有する以下の ETF 銘柄及び口数は、外国証券取引口座約款に基づく国内委託取引に
係るものであり、令和元年 月 日現在上記の者が上記 ETF 銘柄の実質保有者であり、
日本時間 令和元年 8 月 19 日（但し、延会となった場合には、当該延会の 2 日前の日）
まで、これを不動化することを証明します。
ETF 銘柄 コード 保有口数
ETFS 総合上場投資信託（商品 ETF） 1684 ＿＿＿＿＿＿口
ETFS 農産物上場投資信託（ｱｸﾞﾘ ETF） 1687 ＿＿＿＿＿＿口
ETFS 穀物上場投資信託（穀物 ETF） 1688 ＿＿＿＿＿＿口
ETFS 小麦上場投資信託（小麦 ETF） 1695 ＿＿＿＿＿＿口
令和元年 月 日
外国株券等機構加入者住所 ＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿
外国株券等機構加入者名 ＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿ 印
担 当 者 ＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿
別紙 3-1
（抄訳）
イーティーエフエス・コモディティ・セキュリティーズ・リミテッド
(「本発行体」)
以下の投資信託証券の保有者を対象とする投資者総会招集通知
本議案の対象となるマイクロ投資信託証券 対象投資信託証券を構成する ISIN コード
（「対象投資信託証券」） マイクロ投資信託証券,
コーヒー・マイクロ商品投資信託 コーヒー・マイクロ投資信託証券 GB00B16TD974
ETFS コーヒー投資信託 GB00B15KXP72
ETFS 総合上場投資信託 GB00B15KY989
ETFS 農産物上場投資信託 GB00B15KYH63
ETFS ソフトインデックス投資信託 GB00B15KYJ87
ETFS Ex-エネルギー・インデックス投資信託 GB00B15KYD26
カンザス小麦マイクロ商品投資信託 カンザス小麦マイクロ投資信託 JE00B99BG862
ETFS カンザス小麦投資信託 JE00B8KTKH91
ETFS 総合上場投資信託 GB00B15KY989
ETFS 農産物上場投資信託 GB00B15KYH63
ETFS 穀物上場投資信託 GB00B15KYL00
ETFS Ex-エネルギー投資信託 GB00B15KYD26
小麦マイクロ商品投資信託 小麦マイクロ投資信託 GB00B16TDT72
ETFS 小麦上場投資信託 GB00B15KY765
ETFS 総合上場投資信託 GB00B15KY989
ETFS 農産物上場投資信託 GB00B15KYH63
ETFS 穀物上場投資信託 GB00B15KYL00
ETFS Ex-エネルギー投資信託 GB00B15KYD26
砂糖マイクロ商品投資信託 砂糖マイクロ投資信託 GB00B16TDS65
ETFS 砂糖上場投資信託 GB00B15KY658
ETFS 総合上場投資信託 GB00B15KY989
ETFS 農産物上場投資信託 GB00B15KYH63
ETFS ソフトインデックス投資信託 GB00B15KYJ87
ETFS Ex-エネルギー・インデックス投資信託 GB00B15KYD26
コーヒー・マイクロ長期投資信託 コーヒー・マイクロ長期投資信託 JE00B24F1X48
ETFS 長期コーヒー投資信託 JE00B24DLS34
ETFS 長期農産物投資信託 JE00B24DMC49
ETFS 長期ソフトインデックス投資信託 JE00B24DMK23
ETFS 長期 Ex-エネルギー・インデックス投資 JE00B24DML30
信託 JE00B24DMG86
カンザス長期小麦投資信託 カンザス小麦マイクロ長期投資信託 JE00B93KRR51
ETFS カンザス小麦長期投資信託 JE00B931G598
ETFS 総合長期投資信託 JE00B24DMC49
ETFS 農産物長期投資信託 JE00B24DMK23
ETFS 穀物長期投資信託 JE00B24DMN53
ETFS Ex-エネルギー長期投資信託
JE00B24DMG86
小麦マイクロ長期投資信託 小麦長期投資信託 JE00B24F2F31
ETFS 小麦長期投資信託 JE00B24DM914
ETFS 総合長期投資信託 JE00B24DMC49
ETFS 農産物長期投資信託 JE00B24DMK23
ETFS 穀物長期投資信託 JE00B24DMN53
ETFS Ex-エネルギー長期投資信託 JE00B24DMG86
日時： 令和元年 8 月 21 日午前 9 時（現地時間）から
場所： アール・アンド・エイチ・ファンド・サービシズ（ジャージー）リミテッド
（R&H Fund Services (Jersey) Limited）英国領チャンネル諸島、ジャージ
ー、JE4 8PW、セント・ハリアー、ピア・ロード 31、オーデナンス・ハウ
ス（Ordnance House, 31 Pier Road, St. Helier, Jersey JE4 8PW）
議案： 1．上記対象投資信託証券の額面額の引下げ（いずれも特別決議）
本発行体は、その発行する対象投資信託証券の額面の引き下げを提案していま
す。いくつかの対象投資信託証券はその額面の引下げが本 ETF 銘柄の額面に影響
を及ぼします。影響を与える対象投資信託の額面の引下げの議案については、本
ETF 銘柄を保有する投資者は議決権を行使できます。 ETF 銘柄の額面に影響を
本
与える議案（抜粋）は以下のとおりです。
本総会における議案 現在の額面額 変更案
影響を受ける本 ETF 銘柄
コーヒー・マイクロ商品投資信託（Coffee Micro 0.00000050 米ドル 0.00000008 米ドル
Securities）の額面額の引下げ
ETFS 総合上場投資信託（商品 ETF）
ETFS 農産物上場投資信託（ｱｸﾞﾘ ETF）
カンザス小麦マイクロ商品投資信託（Kansas Wheat 0.00000125 米ドル 0.0000002 米ドル
Micro Securities）の額面額の引下げ
ETFS 総合上場投資信託（商品 ETF）
ETFS 農産物上場投資信託（ｱｸﾞﾘ ETF）
ETFS 穀物上場投資信託（穀物 ETF）
小麦マイクロ商品投資信託（Wheat Micro Securities） 0.00000025 米ドル 0.00000005 米ドル
の額面額の引下げ
ETFS 総合上場投資信託（商品 ETF）
ETFS 農産物上場投資信託（ｱｸﾞﾘ ETF）
ETFS 穀物上場投資信託（穀物 ETF）
ETFS 小麦上場投資信託（小麦 ETF）
8
砂糖マイクロ商品投資信託（Sugar Micro Securities） 0.00000300 米ドル 0.00000065 米ドル
の額面額の引下げ
ETFS 総合上場投資信託（商品 ETF）
ETFS 農産物上場投資信託（ｱｸﾞﾘ ETF）
2．その他、上記額面額の切下げに伴う関連契約書の修正
以上
9
別紙 3-2
投資者総会招集通知（ETFS Commodity Securities PA Reduction Circular 原文）
10
THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you
are in any doubt about what action you should take, you are recommended to consult your independent
financial adviser authorised under the Financial Services and Markets Act 2000.
If you have sold or transferred all of your Coffee Micro Securities, Kansas Wheat Micro Securities, Wheat
Micro Securities, Sugar Micro Securities, Coffee Micro Longer Dated Securities, Kansas Wheat Micro
Longer Dated Securities, Wheat Micro Longer Dated Securities, ETFS Coffee Individual Securities,
ETFS Kansas Wheat Individual Securities, ETFS Wheat Individual Securities, ETFS Sugar Individual
Securities, ETFS Longer Dated Coffee Individual Securities, ETFS Longer Dated Kansas Wheat Individual
Securities, ETFS Longer Dated Wheat Individual Securities, ETFS All Commodities Index Securities, ETFS
Ex-Energy Index Securities, ETFS Agriculture Index Securities, ETFS Softs Index Securities, ETFS Grains
Index Securities, ETFS Longer Dated All Commodities Index Securities, ETFS Longer Dated Ex-Energy
Index Securities, ETFS Longer Dated Agriculture Index Securities, ETFS Longer Dated Softs Index
Securities and ETFS Longer Dated Grains Index Securities (together the “Affected Securities”) of ETFS
Commodity Securities Limited, please send this document, together with the accompanying form of proxy,
at once to the purchaser or transferee or stockbroker, banker or other agent through whom the sale or transfer
was made, for onward transmission to the purchaser or transferee.
ETFS Commodity Securities Limited
Classic Micro and Commodity Securities and
Longer Dated Micro and Commodity Securities
Proposals for the amendment of the Principal
Amount of the Affected Securities
and
Meetings of the Security Holders
An explanatory letter from the Issuer giving details of the Proposals and the Extraordinary Resolutions to
implement them is set out in this document.
In respect of each class of Affected Micro Securities, a notice of meeting of the holders of each relevant type
of Affected Securities to be held at the offices of R&H Fund Services (Jersey) Limited, Ordnance House,
31 Pier Road, St. Helier, Jersey, Channel Islands, JE4 8PW at times between 9.00 a.m. and 10.45 a.m.
(as set out in the respective notices) on 14th August 2019 is set out at the end of this document. A form of
proxy for use by holders of Affected Securities of each type is enclosed. To be valid, the form of proxy
should be completed and returned, in accordance with the instructions printed thereon, so as to be received
by the Company’s Registrar, Computershare Investor Services (Jersey) Limited, c/o The Pavilions,
Bridgewater Road, Bristol BS99 6ZY as soon as possible but in any event so as to arrive not less than
48 hours before the time for holding the relevant meeting. Completion and return of a form of proxy will not
preclude a holder of Affected Securities from attending and voting in person at the meeting(s) in question.
CONTENTS
Page
Definitions 3
Summary 4
Part I Letter from the Issuer 6
Part II General Information 9
Notices of Meetings 12
EXPECTED TIMETABLE
Last time for receipt of Forms of Proxy from 9.00 a.m.1 on Monday, 19 August 2019
Meetings of holders of Affected Securities from 9.00 a.m. on 21 August 2019
Execution of Supplemental Trust Instrument2 21 August 2019
Effective date of Proposals2 21 August 2019
1 To be valid in respect of any Meeting, the form of proxy must be returned not less than 48 hours before the time for holding that
Meeting.
2 Assuming each Meeting is quorate and the Extraordinary Resolution is passed thereat. If any Meeting is not quorate, an adjourned
Meeting may be held not less than 13 days nor more than 42 days thereafter. If one or more Meetings is quorate and the
Extraordinary Resolution is passed at such Meeting(s), the Issuer and Trustee may execute a supplemental trust instrument giving
effect thereto in respect of the relevant class(es) of Affected Micro Securities (and the types of Affected Securities comprised, in
whole or in part, of Micro Securities of such class(es)) following such quorate Meeting(s) and will execute a further supplemental
trust instrument giving effect to the Proposals in respect of other types following any adjourned Meeting at which the
Extraordinary Resolution is passed.
2
DEFINITIONS
The following definitions apply throughout this document unless the context requires otherwise:
“Affected Group of Securities” a class of Affected Micro Securities and all of the Commodity
Securities which are comprised, in whole or in part, of that class of
Affected Micro Securities
“Affected Micro Securities” the Coffee Micro Securities, Kansas Wheat Micro Securities, Wheat
Micro Securities, Sugar Micro Securities, Coffee Micro Longer
Dated Securities, Kansas Wheat Micro Longer Dated Securities and
the Wheat Micro Longer Dated Securities, each of the Issuer,
created pursuant to and constituted by the Trust Instrument
“Affected Securities” the Affected Micro Securities and the Commodity Securities which
are comprised, in whole or in part, of Micro Securities of such
classes, each of the Issuer, created pursuant to and constituted by
the Trust Instrument
“CSL” or the “Issuer” ETFS Commodity Securities Limited
“Extraordinary Resolution” in respect of each Affected Group of Securities, the extraordinary
resolution to be proposed at the Meeting of holders of Affected
Securities of such types as set out in the relevant notice convening
the Meeting included in this document
“Meeting” in respect of each Affected Group of Securities, the meeting of the
holders of Affected Securities of such types as set out in the relevant
notice convened for [•] 2019, notice of which are included in this
document
“Proposal” in respect of each Affected Group of Securities, the proposal for the
amendment of the Principal Amount of the Affected Securities of
such types as set out in this document
“Prospectus” the base prospectus of the Issuer dated 29 May 2019.
“Supplemental Trust Instrument” an eighteenth supplemental trust instrument, the form of which is to
be laid before the Meetings
“Trust Instrument” the trust instrument dated 21 September 2006 (as amended)
between the Issuer and the Trustee constituting, inter alia, the
Affected Securities
“Trustee” The Law Debenture Trust Corporation p.l.c.
Terms used in this document and not otherwise defined bear the same meanings as in the Prospectus.
3
SUMMARY
• The Issuer wishes to adjust the Principal Amount of the Affected Securities of each type.
• The proposed change will not in practice affect the rights of holders of the Affected Securities nor
should normal trading or the market price of the Affected Securities be impacted.
• The change will not affect the Price of the Affected Securities as the Price is calculated by reference
to Bloomberg Individual Commodity IndicesSM and not to the Principal Amount of the Affected
Securities.
Affected Securities
Types of Affected Securities comprised,
in whole or in part,of such Affected
Class of Affected Micro Securities Micro Securities ISIN
Coffee Micro Securities Coffee Micro Securities GB00B16TD974
ETFS Coffee Individual Securities GB00B15KXP72
ETFS All Commodities Index Securities GB00B15KY989
ETFS Agriculture Index Securities GB00B15KYH63
ETFS Softs Index Securities GB00B15KYJ87
ETFS Ex-Energy Index Securities GB00B15KYD26
Kansas Wheat Micro Securities Kansas Wheat Micro Securities JE00B99BG862
ETFS Kansas Wheat Individual Securities JE00B8KTKH91
ETFS All Commodities Index Securities GB00B15KY989
ETFS Agriculture Index Securities GB00B15KYH63
ETFS Grains Index Securities GB00B15KYL00
ETFS Ex-Energy Index Securities GB00B15KYD26
Wheat Micro Securities Wheat Micro Securities GB00B16TDT72
ETFS Wheat Individual Securities GB00B15KY765
ETFS All Commodities Index Securities GB00B15KY989
ETFS Agriculture Index Securities GB00B15KYH63
ETFS Grains Index Securities GB00B15KYL00
ETFS Ex-Energy Index Securities GB00B15KYD26
Sugar Micro Securities Sugar Micro Securities GB00B16TDS65
ETFS Sugar Individual Securities GB00B15KY658
ETFS All Commodities Index Securities GB00B15KY989
ETFS Agriculture Index Securities GB00B15KYH63
ETFS Softs Index Securities GB00B15KYJ87
ETFS Ex-Energy Index Securities GB00B15KYD26
Coffee Micro Longer Dated Securities Coffee Micro Longer Dated Securities JE00B24F1X48
ETFS Longer Dated Coffee Individual JE00B24DLS34
Securities
ETFS Longer Dated All Commodities JE00B24DMC49
Index Securities
ETFS Longer Dated Agriculture Index JE00B24DMK23
Securities
ETFS Longer Dated Softs Index Securities JE00B24DML30
ETFS Longer Dated Ex-Energy Index JE00B24DMG86
Securities
4
Types of Affected Securities comprised,
in whole or in part,of such Affected
Class of Affected Micro Securities Micro Securities ISIN
Kansas Wheat Micro Longer Kansas Wheat Micro Longer Dated JE00B93KRR51
Dated Securities Securities
ETFS Longer Dated Kansas Wheat JE00B931G598
Individual Securities
ETFS Longer Dated All JE00B24DMC49
Commodities Index Securities
ETFS Longer Dated Agriculture JE00B24DMK23
Index Securities
ETFS Longer Dated Grains Index JE00B24DMN53
Securities
ETFS Longer Dated Ex-Energy JE00B24DMG86
Index Securities
Wheat Micro Longer Dated Securities Wheat Micro Longer Dated Securities JE00B24F2F31
ETFS Longer Dated Wheat Individual JE00B24DM914
Securities
ETFS Longer Dated All Commodities JE00B24DMC49
Index Securities
ETFS Longer Dated Agriculture Index JE00B24DMK23
Securities
ETFS Longer Dated Grains Index JE00B24DMN53
Securities
ETFS Longer Dated Ex-Energy JE00B24DMG86
Index Securities
5
PART I
LETTER FROM THE ISSUER
ETFS Commodity Securities Limited
(Incorporated and registered in Jersey under the Companies (Jersey) Law 1991 (as amended) with
registered number 90959. Regulated by the Jersey Financial Services Commission)
Registered office: Ordnance House, 31 Pier Road, St. Helier, Jersey JE4 8PW
29 July 2019
To all Holders of Affected Securities
Dear Security Holder
Proposal for the amendment of the Principal Amount of the Affected Securities of each type and
Meetings of the Holders of the Affected Securities
This letter sets out the reasons for and further details of the Proposal.
Introduction
Following gradual changes in the values of certain of the Individual Commodity Indices and hence changes
in the values of the Affected Securities, the Prices of each class of the Affected Micro Securities (and the
Individual Securities comprised of Affected Micro Securities) have fallen towards their Principal Amounts.
Should the Price of any class of Affected Micro Securities fall below its Principal Amount, this may
adversely affect the ability of the Issuer to Create and Redeem the Affected Securities of each type
containing Micro Securities of that class. In such circumstances this could necessitate the early redemption
of such types of Affected Securities.
Pursuant to Condition 8.19 of the Micro and Commodity Securities, the Issuer intends to exercise its right to
suspend the right to Redeem by Settlement Pricing any class of Affected Micro Securities of which the Price
falls below its Principal Amount and therefore the Affected Securities of each type comprised, in whole or in
part, of such Affected Micro Securities. If this occurs, redemptions in accordance with Condition 8.15 (Agreed
Pricing) will continue to occur normally. To enable normal Redemptions to continue, all Redemptions under
Agreed Pricing will, unless otherwise agreed at the time, be based on the settlement prices of the relevant
Individual Commodity Indices and the pricing formula as stated in the Prospectus. This will allow the creation
and redemption of the Affected Securities of each type to continue unaffected. This procedure has been
designed to ensure that all holders of Affected Securities who are able to redeem Affected Securities can each
continue to receive a price for their Affected Securities based on the relevant Individual Commodity Indices.
Accordingly the Issuer does not expect any disruption to trading in the Affected Securities.
In order to maintain the normal trading and operations of the Affected Securities, the Issuer considers that
the Principal Amount of the Affected Securities of each type should be reduced and the Issuer is convening
meetings of the holders of Affected Securities comprising each Affected Group of Securities for the purposes
of seeking approval from the holders of the Affected Securities to reduce the Principal Amounts of each type
of Affected Securities.
This letter includes the notices convening the Meetings.
The Proposals
It is proposed, with your consent, to reduce the Principal Amount of the Affected Securities of each type.
This change will not affect the Price of the Affected Securities and should have no effect on their market
price on any of the stock exchanges on which they are listed or traded.
6
Pricing and Redemption of the Affected Securities
The Price of the Affected Securities of each class is determined in accordance with the Conditions and
depends on the closing settlement price level of the relevant Bloomberg Individual Commodity Indices and
is not related to the Principal Amount. Changing the Principal Amount will not therefore affect the Price of
the relevant Affected Securities.
The terms of the Commodity Securities provide that, on Redemption, a Security Holder is entitled to receive
the aggregate of the higher of the Price and the Principal Amount of the Micro Securities of which such
Commodity Securities are comprised. The Micro and Commodity Securities are however all limited recourse
securities, each having recourse only to the relevant Pools (effectively only the matching Commodity
Contracts and the rights of the Issuer under each of the Security Agreements and the Control Agreements so
far as each relates to the relevant Pools). Since the Commodity Contracts do not have a minimum repayment
amount, on Redemption of any class of Micro Securities (including any type of Commodity Securities
comprised, in whole or in part, of such class of Micro Securities), Security Holders entitled to exercise
Redemption rights would not in fact receive any greater amount than the aggregate Price of their Micro and
Commodity Securities.
Security Holders who are not themselves Authorised Participants are presently only entitled to require
Redemption of their Micro and Commodity Securities when there are no Authorised Participants and would
only otherwise have rights on Redemption in the event of Compulsory Redemption by the Issuer or the
Trustee.
As at 29 July 2019, there were 16 Authorised Participants and thus Security Holders who are not themselves
Authorised Participants may not Redeem any Micro and Commodity Securities. Such Security Holders can
continue to sell Micro and Commodity Securities on the London Stock Exchange or any other of the stock
exchanges on which they are listed or traded and the Micro and Commodity Securities should continue to
trade at or around their Price.
Accordingly, the reduction of the Principal Amount of the Affected Securities will not in practice affect your
rights on Redemption or sale.
Further information
Set out in Part II of this document is some background information on the terms of the Affected Securities
and further details of the purpose and effect of the Extraordinary Resolution to be proposed at each Meeting.
Action to be taken
For the Proposal to become effective in respect of an Affected Group of Securities, it must be sanctioned by
an Extraordinary Resolution of the holders of the Affected Securities which comprise the Affected Group of
Securities. In accordance with paragraph 19 of the Fourth Schedule to the Trust Instrument, the Security
Holders have the power to sanction any modification, abrogation or compromise of, or arrangement in
respect of, the rights of Security Holders against the Issuer and to authorise the Trustee to concur in and
execute any supplemental trust instrument embodying such modification. The Proposal in respect of each
class of Affected Micro Securities and the Affected Securities of each type comprised, in whole or in part,
of Micro Securities of that class varies such rights.
The Extraordinary Resolution in respect of each Affected Group of Securities is an extraordinary resolution
under the Trust Instrument which, to be passed, must (on a poll) be carried by a majority consisting of the
holders of not less than 75 per cent. by Price (or, if no Price is determined on the date of the Meeting, the
most recently determined Price) of the relevant Affected Securities voting on the poll. The quorum for each
Meeting is one or more persons being holders of Affected Securities of the relevant types present in person
or by proxy or (in the case of a holder of Affected Securities which is a corporation) by its duly authorised
representative and holding or representing in the aggregate three-fourths of the aggregate Price (or, if no
Price is determined on the date of the Meeting, the most recently determined Price) of the relevant Affected
Securities (or of the Micro Securities of which they are comprised) for the time being outstanding. If a
quorum is not present at any Meeting it will be adjourned to such date (not being less than 13 days or more
7
than 42 days from the date of the meeting) as the chairman determines. At least seven days’ notice of the
adjourned Meeting will be given to the holders of the relevant Affected Securities.
Holders of the Affected Securities of each type will find enclosed with this circular a single form of proxy
for use at all relevant Meetings. In order to vote you are urged to complete the form of proxy and return it
as soon as possible, and in any event so as to be received no later than 9.00 a.m. on 19 August 2019 (or later
on that day depending on the time for holding the meeting of the holders of the Affected Micro Securities of
the class concerned (and of the holders of the Affected Securities of each type comprised, in whole or in part,
of Affected Micro Securities of that class)), in accordance with the instructions set out in the form.
Completing and returning a form of proxy will not preclude you from attending the Meeting and voting in
person if you wish to do so.
If any Meeting is adjourned, any form of proxy validly delivered and received by not later than 48 hours
prior to the adjourned Meeting will be valid in respect of the adjourned Meeting unless, in respect of any
holder of Affected Securities of the relevant type, a later dated form of proxy has been received no later than
48 hours before the time for the adjourned Meeting, in which case, the later dated form of proxy will be valid
and stand to the exclusion of the earlier dated form of proxy.
Implementation of the Proposals
The proposed amendments to the Trust Instrument to effect the Proposal in relation to each Affected Group
of Securities will take effect, assuming that the Extraordinary Resolution is passed at the relevant Meeting
(or any adjournment thereof), when the Trustee enters into the Supplemental Trust Instrument with the
Issuer, which is expected to occur shortly after the Meetings (or any adjournment(s) thereof).
If one or more Meetings are quorate (and the Extraordinary Resolution is passed thereat) and one or more
Meetings are adjourned through lack of a quorum, the Issuer and the Trustee may enter into a supplemental
trust instrument giving effect to the Proposals in respect of each Affected Group of Securities in respect of
which the Meeting was quorate following such Meeting(s) and will execute a further supplemental trust
instrument giving effect to the Proposals in respect of other types following any adjourned Meeting at which
the Extraordinary Resolution is passed.
Trustee
In accordance with its normal practice, The Law Debenture Trust Corporation p.l.c., as trustee, expresses no
opinion as to the merits of the Proposals, the terms of which were not negotiated by it. It has however
authorised it to be stated that, on the basis of the information contained in this document (which it advises
holders of Affected Securities to read carefully), it has no objection to the form in which the Proposals and
Notices of the Meeting are presented to holders of Affected Securities for their consideration.
Recommendation
The Issuer considers the passing of the Extraordinary Resolution to be in the best interests of the holders of
each Affected Group of Securities as a whole and therefore recommends that such holders of Affected
Securities vote in favour of the Extraordinary Resolution.
Yours sincerely
Steven Ross
Director
for and on behalf of
ETFS Commodity Securities Limited
8
PART II
GENERAL INFORMATION
1. Terms of the Securities
The Trust Instrument constituting the Affected Securities was entered into on 21 September 2006, and
amended by a supplemental trust instrument dated 17 September 2007, a second supplemental trust
instrument dated 23 April 2008, a third supplemental trust instrument dated 15 August 2008, a fourth
supplemental trust instrument dated 15 September 2008, a fifth supplemental trust instrument dated 8
October 2008, a sixth supplemental trust instrument dated 29 June 2009, a seventh supplemental trust
instrument dated 7 August 2009, an eighth supplemental trust instrument dated 20 January 2011, a ninth
supplemental trust instrument dated 14 March 2011, a tenth supplemental trust instrument dated
22 December 2011, an eleventh supplemental trust instrument dated 26 January 2012, a twelfth supplemental
trust instrument dated 14 December 2012, a thirteenth supplemental trust instrument dated 23 June 2014, a
fourteenth supplemental trust instrument dated 6 October 2014, a fifteenth supplemental trust instrument
dated 24 November 2014, a sixteenth supplemental trust instrument dated 3 July 2015 and a seventeenth
supplemental trust instrument dated 29 June 2017.
The Affected Securities of each type have the Principal Amounts as set out in section 2 “Purpose and effect
of the Extraordinary Resolution”, below. The precise composition of each category of Index Security is set
out in Tables 1 and 2 in paragraphs 7(g) and 7(h) of Part 13 (Additional Information) of the Prospectus.
Although when issued ETFS Ex-Agriculture Index Securities, ETFS Ex-Grains Index Securities, ETFS
Ex-Industrial Metals Index Securities, ETFS Ex-Petroleum Index Securities, ETFS Ex-Precious Metals
Index Securities, ETFS Ex-Livestock Index Securities and ETFS Ex-Softs Index Securities will also
comprise, inter alia, some or all of the classes of Affected Micro Securities, none of such Index Securities
are currently in issue and the consent of the holders of such types is therefore not required to implement the
Proposal.
Under Condition 8.1 of the Micro and Commodity Securities, each Micro Security of a particular class
carries the right on Redemption (other than by way of Agreed Pricing by agreement between a Commodity
Contract Counterparty and a Security Holder which is an Authorised Participant) to payment of the higher
of (i) the Principal Amount for that class, and (ii) the Price of that Micro Security on the applicable Pricing
Day.
Under Condition 8.2 of the Micro and Commodity Securities, each Commodity Security of a particular type
carries the right on Redemption to payment of the aggregate amounts payable on Redemption for all Micro
Securities of which it is comprised, such amounts determined in accordance with Condition 8.1.
Under Condition 3.2 of the Micro and Commodity Securities, the Trustee and the Security Holders of any
class of Micro Securities (and any type of Commodity Securities if and to the extent that the amount payable
on Redemption of such Commodity Securities is calculated by reference to Micro Securities of that class)
will have recourse only to sums derived from the Secured Property relating to the relevant Pool. If, the
Trustee (or any other secured party) having realised the same, the net proceeds are insufficient for the Issuer
to make all payments which, but for the effect of such Condition, would then be due, the obligations of the
Issuer will be limited to such net proceeds of realisation, neither the Trustee nor any person acting on its
behalf shall be entitled to take any further steps against the Issuer to recover any further sums and no debt
shall be owed by the Issuer to any such person in respect of any such further sum.
Under Condition 8.19 of the Micro and Commodity Securities, if the Price of a class of a Micro Security
falls below its Principal Amount, the Issuer may at any time while such Price is below such Principal Amount
suspend Redemptions by Settlement Pricing of the Micro Securities of that class (and all types of
Commodity Securities which are comprised, in whole or in part, of Micro Securities of such class) (giving
notice of such suspension via RIS announcement) for a period of 30 days, and thereafter provided that notice
of a meeting has been issued convening a meeting for a date not more than 30 days after the date of the notice
for the purpose of considering an Extraordinary Resolution which will have the effect of reducing the
9
Principal Amount to a level less than the Price, the suspension to expire when the meeting (or any
adjournment thereof) concludes or, if the Extraordinary Resolution is passed and makes alternative
provision, in accordance with the Extraordinary Resolution. Any suspension will not affect any Redemption
the Pricing Date for which had passed before the suspension commenced, but any Settlement Redemption
Form lodged on an Issuer Business Day when the right to Redeem Micro and Commodity Securities of that
class by Settlement Pricing is suspended will be invalid.
Under Condition 9.6A of the Micro and Commodity Securities, if on any Pricing Day the Price of any class
of Micro Security falls to 2.5 times the Principal Amount of such Micro Security or below, the Issuer may
at any time for so long as the Price remains below such amount and during the period 60 days thereafter,
upon not less than two days’ notice by RIS announcement, elect to redeem the Micro Securities of that class
and all types of Commodity Securities which are comprised, in whole or in part, of Micro Securities of that
class. This right will cease once an Extraordinary Resolution is passed to reduce the Principal Amount such
that the Price is more than 2.5 times the Principal Amount (as so reduced).
The full text of the Conditions of the Micro and Commodity Securities is set out in Part 7 of the Prospectus
and details of the Security Deeds are set out in Part 8 of the Prospectus. A description of the Facility
Agreements and the Commodity Contracts is set out in Part 5 of the Prospectus.
2. Purpose and effect of the Extraordinary Resolution
If the Extraordinary Resolution is passed, the Principal Amount of each of the Affected Securities will be
reduced as set out in the table below:
Current Proposed
Principal Principal
Type of Affected Security Amount Amount1
Coffee Micro Securities US$0.00000050 US$0.00000008
Kansas Wheat Micro Securities US$0.00000125 US$0.0000002
Wheat Micro Securities US$0.00000025 US$0.00000005
Sugar Micro Securities US$0.00000300 US$0.00000065
Coffee Micro Longer Dated Securities US$0.00000050 US$0.0000001
Kansas Wheat Micro Longer Dated Securities US$0.00000175 US$0.000000375
Wheat Micro Longer Dated Securities US$0.00000100 US$0.0000002
ETFS Coffee Individual Securities US$0.50000000 US$0.08
ETFS Kansas Wheat Individual Securities US$1.25000000 US$0.2
ETFS Wheat Individual Securities US$0.25000000 US$0.05
ETFS Sugar Individual Securities US$3.00000000 US$0.65
ETFS Longer Dated Coffee Individual Securities US$0.50000000 US$0.1
ETFS Longer Dated Kansas Wheat Individual Securities US$1.75000000 US$0.375
ETFS Longer Dated Wheat Individual Securities US$1.00000000 US$0.2
ETFS All Commodities Index Securities US$1.735273210 US$0.8
ETFS Agriculture Index Securities US$1.224601000 US$0.4
ETFS Grains Index Securities US$0.834185750 US$0.3
ETFS Softs Index Securities US$1.392052500 US$0.3
ETFS Ex-Energy Index Securities US$1.712365730 US$0.75
ETFS Longer Dated All Commodities Index Securities US$3.46445780 US$1.85
ETFS Longer Dated Agriculture Index Securities US$1.58396675 US$0.75
ETFS Longer Dated Grains Index Securities US$1.26416575 US$0.55
ETFS Longer Dated Softs Index Securities US$1.33180300 US$0.55
ETFS Longer Dated Ex-Energy Index Securities US$2.35232375 US$1.4
1 The Proposed Principal Amount in respect of the Index Securities will be dependent on all the Extraordinary Resolutions being
passed, if only some of the Extraordinary Resolutions are passed then the Principal Amount will be reduced to a different figure.
10
If the Extraordinary Resolution is passed in relation to one or more classes of Affected Micro Securities, the
Issuer and the Trustee will effect the reduction in the Principal Amount of each such class of Affected Micro
Securities (and all types of Commodity Securities which are comprised, in whole or in part, of Micro
Securities of that class) by executing a supplemental trust instrument.
If, in relation to one or more classes of Affected Securities, the Extraordinary Resolution is not passed by
the requisite majority, either at the relevant Meeting or at an adjournment thereof, the Issuer may exercise
its powers under Condition 9.6A to Redeem all the Affected Micro Securities of such class or classes for
which the Price falls below 2.5 times the Principal Amount (and all types of Commodity Securities which
are comprised, in whole or in part, of Micro Securities of that class) and may thereafter create and issue new
types of Micro and Commodity Securities with a reduced Principal Amount.
3. Consent
The Law Debenture Trust Corporation p.l.c. has given and has not withdrawn its written consent to the issue
of this document with the references herein to its name in the form and context in which they appear.
4. Documents available for inspection
Copies of the following documents will be available for inspection during normal business hours on any
weekday (Saturdays, Sundays and public holidays excepted) at the registered office of the Issuer and at the
offices of WisdomTree UK Limited, 3 Lombard Street, London, EC3V 9AA from the date of this document
up to and including the date of the Meetings (and any adjournment thereof) and at and during the Meetings
(and any adjournment thereof):
(a) the Trust Instrument;
(b) the Prospectus;
(c) the written consent of the Trustee referred to in paragraph 3 above; and
(d) a draft (subject to modification) of the Supplemental Trust Instrument to give effect to the Proposals.
11
NOTICE OF MEETING
ETFS Commodity Securities Limited
(the “Issuer”)
Notice of a meeting of the holders (the “Relevant Security Holders”)
of the Coffee Micro Securities, the ETFS Coffee Individual Securities,
the ETFS All Commodities Index Securities, the ETFS Agriculture Index Securities,
the ETFS Softs Index Securities and the ETFS Ex-Energy Index Securities
(together the “Relevant Securities”) of the Issuer
NOTICE is hereby given that, pursuant to the provisions of the Fourth Schedule to the trust instrument dated
21 September 2006 constituting (inter alia) the Relevant Securities and made between (1) ETFS Commodity
Securities Limited (the “Issuer”) and (2) The Law Debenture Trust Corporation p.l.c. (the “Trustee”) as
amended by a supplemental trust instrument dated 17 September 2007, a second supplemental trust
instrument dated 23 April 2008, a third supplemental trust instrument dated 15 August 2008, a fourth
supplemental trust instrument dated 15 September 2008, a fifth supplemental trust instrument dated
8 October 2008, a sixth supplemental trust instrument dated 29 June 2009, a seventh supplemental trust
instrument dated 7 August 2009, an eighth supplemental trust instrument dated 20 January 2011, a ninth
supplemental trust instrument dated 14 March 2011, a tenth supplemental trust instrument dated
22 December 2011, an eleventh supplemental trust instrument dated 26 January 2012, a twelfth supplemental
trust instrument dated 14 December 2012, a thirteenth supplemental trust instrument dated 23 June 2014, a
fourteenth supplemental trust instrument dated 6 October 2014, a fifteenth supplemental trust instrument
dated 24 November 2014, a sixteenth supplemental trust instrument dated 3 July 2015 and a seventeenth
supplemental trust instrument dated 29 June 2017, each made between the Issuer and the Trustee (as so
amended, the “Trust Instrument”), a meeting of the Relevant Security Holders convened by the Issuer will
be held at the offices of R&H Fund Services (Jersey) Limited, Ordnance House, 31 Pier Road, St. Helier,
Jersey JE4 8PW at 9.00 a.m. on 21 August 2019 for the purpose of considering and, if thought fit, passing
the following resolution which will be proposed as an Extraordinary Resolution of the Relevant Security
Holders pursuant to the terms of the Trust Instrument:
EXTRAORDINARY RESOLUTION
“THAT this meeting of the holders (the “Relevant Security Holders”) of the Coffee Micro Securities, the
ETFS Coffee Individual Securities, the ETFS All Commodities Index Securities, the ETFS Agriculture Index
Securities, the ETFS Softs Index Securities and the ETFS Ex-Energy Index Securities of ETFS Commodity
Securities Limited (the “Issuer”) constituted by the trust instrument dated 21 September 2006 (as
subsequently amended) (the “Trust Instrument”) and made between the Issuer and The Law Debenture
Trust Corporation p.l.c. as Trustee (the “Trustee”) for (inter alios) the Relevant Security Holders, hereby:
(1) pursuant to Clause 33.2(g) of, and paragraphs 19(a), (b) and (c) and 20 of the Fourth Schedule to, the
Trust Instrument, sanctions and consents to the reduction in the Principal Amount of the Coffee Micro
Securities to US$ 0.00000008 and the reduction accordingly of the Principal Amount of the ETFS
Coffee Individual Securities, the ETFS All Commodities Index Securities, the ETFS Agriculture
Index Securities, the ETFS Softs Index Securities and the ETFS Ex-Energy Index Securities, to the
extent they are comprised of Coffee Micro Securities (the “Proposal”);
(2) assents to the modification of the Trust Instrument on the terms set out in the draft of a supplemental
trust instrument (substantially in the form of the draft produced to the meeting and signed for the
purposes of identification by the Chairman) (the “Supplemental Trust Instrument”);
(3) sanctions, authorises, directs and instructs the Trustee to concur in and execute the Supplemental Trust
Instrument with the Issuer embodying such reduction referred to in paragraph (2) of this
Extraordinary Resolution in substantially the form of the draft produced to the meeting and signed for
the purposes of identification by the Chairman (with such additions or modifications, if any, as shall
be agreed between the Issuer and the Trustee);
(4) generally sanctions, authorises, directs, instructs and empowers the Trustee and the Issuer to concur
in and execute and do, all such other deeds, instruments, acts and things as may be necessary or
12
desirable to carry out and give effect to this Extraordinary Resolution and the implementation of the
Proposal;
(5) determines in accordance with Condition 8.19(b) that, if, immediately prior to the conclusion of the
Meeting, the right to Redeem the Relevant Securities pursuant to Condition 8.1(a) has been suspended
by the Issuer pursuant to Condition 8.19 and such suspension is still in effect immediately prior to the
conclusion of the Meeting, such suspension shall terminate on the date of the Supplemental Trust
Instrument;
(6) pursuant to Clause 33.2(g) of, and to paragraphs 19(d) and 20 of the Fourth Schedule to, the Trust
Instrument, releases the Trustee from any liability for complying with the directions given in
paragraphs (3) and (4) of this Extraordinary Resolution; and
(7) confirms that terms used in this Extraordinary Resolution and not otherwise defined bear the same
meanings as in the Trust Instrument.”
ETFS Commodity Securities Limited By Order of the Board
Ordnance House
31 Pier Road R&H Fund Services (Jersey) Limited
St. Helier Secretary
Jersey JE4 8PW
29 July 2019
NOTES
1. A white form of proxy is enclosed with this notice for use by holders of Relevant Securities. A Relevant Security Holder entitled
to attend and vote at the Meeting is also entitled to appoint one or more proxies to attend and vote instead of him or her. The
proxy need not be a Relevant Security Holder.
2. To be effective, the instrument appointing a proxy and the power of attorney or other authority (if any) under which it is signed
or a certified copy of such power or authority must be deposited at the office of the Company’s Registrar, Computershare Investor
Services (Jersey) Limited, c/o The Pavilions, Bridgwater Road, Bristol BS99 6ZY, not later than 9.00 a.m. on 19 August 2019.
Completion and return of the form of proxy will not preclude a Relevant Security Holder from attending and voting in person at
the Meeting.
3. The quorum for passing an Extraordinary Resolution shall be one or more persons being Relevant Security Holders present in
person or by proxy or (in the case of a Relevant Security Holder which is a corporation) by its duly authorised representative and
holding or representing in the aggregate three-fourths of the aggregate by Price (as at the date of the Meeting or, if no Price was
determined on that date, the most recently determined Price) of the Affected Securities for the time being outstanding. If within
15 minutes (or such longer period not exceeding 30 minutes as the Chairman may decide) from the time appointed for holding
the meeting a quorum is not present, the meeting will be adjourned to such day and time being not less than thirteen days nor
more than forty-two days thereafter and to such place as may be appointed by the Chairman and at such adjourned meeting the
quorum will be one or more persons being Relevant Security Holders present in person or by proxy (or, in the case of a
corporation, by its duly authorised representative) whatever the aggregate Price of the Affected Securities held by them.
4. On a show of hands every Security Holder who is present in person or by proxy or (in the case of a Security Holder which is a
corporation) by its duly authorised representative shall have one vote. On a poll every Security Holder who is so present shall
have one vote in respect of every US$1.00 of Price (as at the date of the Meeting or if no Price was determined on that date, the
most recently determined Price) attributable to the Affected Securities of which it is the holder or in respect of which it is the
proxy or duly authorised representative. The Extraordinary Resolution is an extraordinary resolution under the Trust Instrument
which, to be passed, must (on a poll) be passed by a majority consisting of the holders of not less than 75 per cent. by Price (or
if no Price is determined on the date of the Meeting, the most recently determined Price) of the Affected Securities voting on the
poll. For these purposes holders of the ETFS Coffee Individual Securities, the ETFS All Commodities Index Securities, the ETFS
Agriculture Index Securities, the ETFS Index Securities and the ETFS Ex-Energy Index Securities will be treated as though they
were holders of the Micro Securities by reference to which the amount payable on Redemption of their Index Securities and/or
Individual Securities is calculated and not as though they were holders of the Index Securities and/or Individual Securities.
5. The Issuer, pursuant to article 40 of the Companies (Uncertificated Securities) (Jersey) Order 1999, specifies that only those
Relevant Security Holders registered in the register of a type of Relevant Security Holders as at 6.00 p.m. on 19 August 2019
(or, in the event that the Meeting is adjourned, on the register of Relevant Security Holders at 6.00 p.m. on the second day prior
to the date of the adjourned meeting) shall be entitled to attend or vote at the Meeting in respect of the Relevant Securities
registered in their name at that time. Changes to entries on the registers of types of Relevant Security Holders after 6.00 p.m. on
19 August 2019 (or, in the event that the Meeting is adjourned, on the registers of types of Relevant Security Holders after
6.00 p.m. on the second day prior to the date of the adjourned meeting) shall be disregarded in determining the rights of any
person to attend or vote at the Meeting (or adjourned meeting).
13
NOTICE OF MEETING
ETFS Commodity Securities Limited
(the “Issuer”)
Notice of a meeting of the holders (the “Relevant Security Holders”)
of the Kansas Wheat Micro Securities, the ETFS Kansas Wheat Individual Securities,
the ETFS All Commodities Index Securities, the ETFS Agriculture Index Securities,
the ETFS Grains Index Securities and the ETFS Ex-Energy Index Securities
(together the “Relevant Securities”) of the Issuer
NOTICE is hereby given that, pursuant to the provisions of the Fourth Schedule to the trust instrument dated
21 September 2006 constituting (inter alia) the Relevant Securities and made between (1) ETFS Commodity
Securities Limited (the “Issuer”) and (2) The Law Debenture Trust Corporation p.l.c. (the “Trustee”) as
amended by a supplemental trust instrument dated 17 September 2007, a second supplemental trust
instrument dated 23 April 2008, a third supplemental trust instrument dated 15 August 2008, a fourth
supplemental trust instrument dated 15 September 2008, a fifth supplemental trust instrument dated
8 October 2008, a sixth supplemental trust instrument dated 29 June 2009, a seventh supplemental trust
instrument dated 7 August 2009, an eighth supplemental trust instrument dated 20 January 2011, a ninth
supplemental trust instrument dated 14 March 2011, a tenth supplemental trust instrument dated
22 December 2011, an eleventh supplemental trust instrument dated 26 January 2012, a twelfth supplemental
trust instrument dated 14 December 2012, a thirteenth supplemental trust instrument dated 23 June 2014, a
fourteenth supplemental trust instrument dated 6 October 2014, a fifteenth supplemental trust instrument
dated 24 November 2014, a sixteenth supplemental trust instrument dated 3 July 2015 and a seventeenth
supplemental trust instrument dated 29 June 2017, each made between the Issuer and the Trustee (as so
amended, the “Trust Instrument”), a meeting of the Relevant Security Holders convened by the Issuer will
be held at the offices of R&H Fund Services (Jersey) Limited, Ordnance House, 31 Pier Road, St. Helier,
Jersey JE4 8PW at 9.15 a.m. on 21 August 2019 (or so soon thereafter as the meeting of the holders of the
Coffee Micro Securities, the ETFS Coffee Individual Securities, the ETFS All Commodities Index
Securities, the ETFS Agriculture Index Securities, the ETFS Softs Index Securities and the ETFS Ex-Energy
Index Securities of the Issuer convened for the same date and place shall have concluded or adjourned) for
the purpose of considering and, if thought fit, passing the following resolution which will be proposed as an
Extraordinary Resolution of the Relevant Security Holders pursuant to the terms of the Trust Instrument:
EXTRAORDINARY RESOLUTION
“THAT this meeting of the holders (the “Relevant Security Holders”) of the Kansas Wheat Micro
Securities, the ETFS Kansas Wheat Individual Securities, the ETFS All Commodities Index Securities, the
ETFS Agriculture Index Securities, the ETFS Grains Index Securities and the ETFS Ex-Energy Index
Securities of ETFS Commodity Securities Limited (the “Issuer”) constituted by the trust instrument dated
21 September 2006 (as subsequently amended) (the “Trust Instrument”) and made between the Issuer and
The Law Debenture Trust Corporation p.l.c. as Trustee (the “Trustee”) for (inter alios) the Relevant Security
Holders, hereby:
(1) pursuant to Clause 33.2(g) of, and paragraphs 19(a), (b) and (c) and 20 of the Fourth Schedule to, the
Trust Instrument, sanctions and consents to the reduction in the Principal Amount of the Kansas
Wheat Micro Securities to US$ 0.0000002 and the reduction accordingly of the Principal Amount of
the ETFS Kansas Wheat Individual Securities, the ETFS All Commodities Index Securities, the ETFS
Agriculture Index Securities, the ETFS Grains Index Securities and the ETFS Ex-Energy Index
Securities, to the extent they are comprised of Kansas Wheat Micro Securities (the “Proposal”);
(2) assents to the modification of the Trust Instrument on the terms set out in the draft of a supplemental
trust instrument (substantially in the form of the draft produced to the meeting and signed for the
purposes of identification by the Chairman) (the “Supplemental Trust Instrument”);
14
(3) sanctions, authorises, directs and instructs the Trustee to concur in and execute the Supplemental Trust
Instrument with the Issuer embodying such reduction referred to in paragraph (2) of this
Extraordinary Resolution in substantially the form of the draft produced to the meeting and signed for
the purposes of identification by the Chairman (with such additions or modifications, if any, as shall
be agreed between the Issuer and the Trustee);
(4) generally sanctions, authorises, directs, instructs and empowers the Trustee and the Issuer to concur
in and execute and do, all such other deeds, instruments, acts and things as may be necessary or
desirable to carry out and give effect to this Extraordinary Resolution and the implementation of the
Proposal;
(5) determines in accordance with Condition 8.19(b) that, if, immediately prior to the conclusion of the
Meeting, the right to Redeem the Relevant Securities pursuant to Condition 8.1(a) has been suspended
by the Issuer pursuant to Condition 8.19 and such suspension is still in effect immediately prior to the
conclusion of the Meeting, such suspension shall terminate on the date of the Supplemental Trust
Instrument;
(6) pursuant to Clause 33.2(g) of, and to paragraphs 19(d) and 20 of the Fourth Schedule to, the Trust
Instrument, releases the Trustee from any liability for complying with the directions given in
paragraphs (3) and (4) of this Extraordinary Resolution; and
(7) confirms that terms used in this Extraordinary Resolution and not otherwise defined bear the same
meanings as in the Trust Instrument.”
ETFS Commodity Securities Limited By Order of the Board
Ordnance House
31 Pier Road R&H Fund Services (Jersey) Limited
St. Helier Secretary
Jersey JE4 8PW
29 July 2019
NOTES
1. A white form of proxy is enclosed with this notice for use by holders of Relevant Securities. A Relevant Security Holder entitled
to attend and vote at the Meeting is also entitled to appoint one or more proxies to attend and vote instead of him or her. The
proxy need not be a Relevant Security Holder.
2. To be effective, the instrument appointing a proxy and the power of attorney or other authority (if any) under which it is signed
or a certified copy of such power or authority must be deposited at the office of the Company’s Registrar, Computershare Investor
Services (Jersey) Limited, c/o The Pavilions, Bridgwater Road, Bristol BS99 6ZY, not later than 9.15 a.m. on 19 August 2019.
Completion and return of the form of proxy will not preclude a Relevant Security Holder from attending and voting in person at
the Meeting.
3. The quorum for passing an Extraordinary Resolution shall be one or more persons being Relevant Security Holders present in
person or by proxy or (in the case of a Relevant Security Holder which is a corporation) by its duly authorised representative and
holding or representing in the aggregate three-fourths of the aggregate by Price (as at the date of the Meeting or, if no Price was
determined on that date, the most recently determined Price) of the Affected Securities for the time being outstanding. If within
15 minutes (or such longer period not exceeding 30 minutes as the Chairman may decide) from the time appointed for holding
the meeting a quorum is not present, the meeting will be adjourned to such day and time being not less than thirteen days nor
more than forty-two days thereafter and to such place as may be appointed by the Chairman and at such adjourned meeting the
quorum will be one or more persons being Relevant Security Holders present in person or by proxy (or, in the case of a
corporation, by its duly authorised representative) whatever the aggregate Price of the Affected Securities held by them.
4. On a show of hands every Security Holder who is present in person or by proxy or (in the case of a Security Holder which is a
corporation) by its duly authorised representative shall have one vote. On a poll every Security Holder who is so present shall
have one vote in respect of every US$1.00 of Price (as at the date of the Meeting or if no Price was determined on that date, the
most recently determined Price) attributable to the Affected Securities of which it is the holder or in respect of which it is the
proxy or duly authorised representative. The Extraordinary Resolution is an extraordinary resolution under the Trust Instrument
which, to be passed, must (on a poll) be passed by a majority consisting of the holders of not less than 75 per cent. by Price (or
if no Price is determined on the date of the Meeting, the most recently determined Price) of the Affected Securities voting on the
poll. For these purposes holders of the ETFS Kansas Wheat Individual Securities, the ETFS All Commodities Index Securities,
the ETFS Agriculture Index Securities, the ETFS Grains Index Securities and the ETFS Ex-Energy Index Securities will be
15
treated as though they were holders of the Micro Securities by reference to which the amount payable on Redemption of their
Index Securities and/or Individual Securities is calculated and not as though they were holders of the Index Securities and/or
Individual Securities.
5. The Issuer, pursuant to article 40 of the Companies (Uncertificated Securities) (Jersey) Order 1999, specifies that only those
Relevant Security Holders registered in the register of a type of Relevant Security Holders as at 6.00 p.m. on 19 August 2019
(or, in the event that the Meeting is adjourned, on the register of Relevant Security Holders at 6.00 p.m. on the second day prior
to the date of the adjourned meeting) shall be entitled to attend or vote at the Meeting in respect of the Relevant Securities
registered in their name at that time. Changes to entries on the registers of types of Relevant Security Holders after 6.00 p.m. on
19 August 2019 (or, in the event that the Meeting is adjourned, on the registers of types of Relevant Security Holders after
6.00 p.m. on the second day prior to the date of the adjourned meeting) shall be disregarded in determining the rights of any
person to attend or vote at the Meeting (or adjourned meeting).
16
NOTICE OF MEETING
ETFS Commodity Securities Limited
(the “Issuer”)
Notice of a meeting of the holders (the “Relevant Security Holders”)
of the Wheat Micro Securities, the ETFS Wheat Individual Securities,
the ETFS All Commodities Index Securities, the ETFS Agriculture Index Securities,
the ETFS Grains Index Securities and the ETFS Ex-Energy Index Securities
(together the “Relevant Securities”) of the Issuer
NOTICE is hereby given that, pursuant to the provisions of the Fourth Schedule to the trust instrument dated
21 September 2006 constituting (inter alia) the Relevant Securities and made between (1) ETFS Commodity
Securities Limited (the “Issuer”) and (2) The Law Debenture Trust Corporation p.l.c. (the “Trustee”) as
amended by a supplemental trust instrument dated 17 September 2007, a second supplemental trust
instrument dated 23 April 2008, a third supplemental trust instrument dated 15 August 2008, a fourth
supplemental trust instrument dated 15 September 2008, a fifth supplemental trust instrument dated
8 October 2008, a sixth supplemental trust instrument dated 29 June 2009, a seventh supplemental trust
instrument dated 7 August 2009, an eighth supplemental trust instrument dated 20 January 2011, a ninth
supplemental trust instrument dated 14 March 2011, a tenth supplemental trust instrument dated
22 December 2011, an eleventh supplemental trust instrument dated 26 January 2012, a twelfth supplemental
trust instrument dated 14 December 2012, a thirteenth supplemental trust instrument dated 23 June 2014, a
fourteenth supplemental trust instrument dated 6 October 2014, a fifteenth supplemental trust instrument
dated 24 November 2014, a sixteenth supplemental trust instrument dated 3 July 2015 and a seventeenth
supplemental trust instrument dated 29 June 2017, each made between the Issuer and the Trustee (as so
amended, the “Trust Instrument”), a meeting of the Relevant Security Holders convened by the Issuer will
be held at the offices of R&H Fund Services (Jersey) Limited, Ordnance House, 31 Pier Road, St. Helier,
Jersey JE4 8PW at 9.30 a.m. on 21 August 2019 (or so soon thereafter as the meeting of the holders of
Kansas Wheat Micro Securities, the ETFS Kansas Wheat Individual Securities, the ETFS All Commodities
Index Securities, the ETFS Agriculture Index Securities, the ETFS Grains Index Securities and the ETFS
Ex-Energy Index Securities for the purpose of considering and, if thought fit, passing the following
resolution which will be proposed as an Extraordinary Resolution of the Relevant Security Holders pursuant
to the terms of the Trust Instrument:
EXTRAORDINARY RESOLUTION
“THAT this meeting of the holders (the “Relevant Security Holders”) of the Wheat Micro Securities, the
ETFS Wheat Individual Securities, the ETFS All Commodities Index Securities, the ETFS Agriculture Index
Securities, the ETFS Grains Index Securities and the ETFS Ex-Energy Index Securities of ETFS Commodity
Securities Limited (the “Issuer”) constituted by the trust instrument dated 21 September 2006 (as
subsequently amended) (the “Trust Instrument”) and made between the Issuer and The Law Debenture
Trust Corporation p.l.c. as Trustee (the “Trustee”) for (inter alios) the Relevant Security Holders, hereby:
(1) pursuant to Clause 33.2(g) of, and paragraphs 19(a), (b) and (c) and 20 of the Fourth Schedule to, the
Trust Instrument, sanctions and consents to the reduction in the Principal Amount of the Wheat Micro
Securities to US$0.00000005 and the reduction accordingly of the Principal Amount of the ETFS
Wheat Individual Securities, the ETFS All Commodities Index Securities, the ETFS Agriculture Index
Securities, the ETFS Grains Index Securities and the ETFS Ex-Energy Index Securities, to the extent
they are comprised of Wheat Micro Securities (the “Proposal”);
(2) assents to the modification of the Trust Instrument on the terms set out in the draft of a supplemental
trust instrument (substantially in the form of the draft produced to the meeting and signed for the
purposes of identification by the Chairman) (the “Supplemental Trust Instrument”);
(3) sanctions, authorises, directs and instructs the Trustee to concur in and execute the Supplemental Trust
Instrument with the Issuer embodying such reduction referred to in paragraph (2) of this
17
Extraordinary Resolution in substantially the form of the draft produced to the meeting and signed for
the purposes of identification by the Chairman (with such additions or modifications, if any, as shall
be agreed between the Issuer and the Trustee);
(4) generally sanctions, authorises, directs, instructs and empowers the Trustee and the Issuer to concur
in and execute and do, all such other deeds, instruments, acts and things as may be necessary or
desirable to carry out and give effect to this Extraordinary Resolution and the implementation of the
Proposal;
(5) determines in accordance with Condition 8.19(b) that, if, immediately prior to the conclusion of the
Meeting, the right to Redeem the Relevant Securities pursuant to Condition 8.1(a) has been suspended
by the Issuer pursuant to Condition 8.19 and such suspension is still in effect immediately prior to the
conclusion of the Meeting, such suspension shall terminate on the date of the Supplemental Trust
Instrument;
(6) pursuant to Clause 33.2(g) of, and to paragraphs 19(d) and 20 of the Fourth Schedule to, the Trust
Instrument, releases the Trustee from any liability for complying with the directions given in
paragraphs (3) and (4) of this Extraordinary Resolution; and
(7) confirms that terms used in this Extraordinary Resolution and not otherwise defined bear the same
meanings as in the Trust Instrument.”
ETFS Commodity Securities Limited By Order of the Board
Ordnance House
31 Pier Road R&H Fund Services (Jersey) Limited
St. Helier Secretary
Jersey JE4 8PW
29 July 2019
NOTES
1. A white form of proxy is enclosed with this notice for use by holders of Relevant Securities. A Relevant Security Holder entitled
to attend and vote at the Meeting is also entitled to appoint one or more proxies to attend and vote instead of him or her. The
proxy need not be a Relevant Security Holder.
2. To be effective, the instrument appointing a proxy and the power of attorney or other authority (if any) under which it is signed
or a certified copy of such power or authority must be deposited at the office of the Company’s Registrar, Computershare Investor
Services (Jersey) Limited, c/o The Pavilions, Bridgwater Road, Bristol BS99 6ZY, not later than 9.30 a.m. on 19 August 2019.
Completion and return of the form of proxy will not preclude a Relevant Security Holder from attending and voting in person at
the Meeting.
3. The quorum for passing an Extraordinary Resolution shall be one or more persons being Relevant Security Holders present in
person or by proxy or (in the case of a Relevant Security Holder which is a corporation) by its duly authorised representative and
holding or representing in the aggregate three-fourths of the aggregate by Price (as at the date of the Meeting or, if no Price was
determined on that date, the most recently determined Price) of the Affected Securities for the time being outstanding. If within
15 minutes (or such longer period not exceeding 30 minutes as the Chairman may decide) from the time appointed for holding
the meeting a quorum is not present, the meeting will be adjourned to such day and time being not less than thirteen days nor
more than forty-two days thereafter and to such place as may be appointed by the Chairman and at such adjourned meeting the
quorum will be one or more persons being Relevant Security Holders present in person or by proxy (or, in the case of a
corporation, by its duly authorised representative) whatever the aggregate Price of the Affected Securities held by them.
4. On a show of hands every Security Holder who is present in person or by proxy or (in the case of a Security Holder which is a
corporation) by its duly authorised representative shall have one vote. On a poll every Security Holder who is so present shall
have one vote in respect of every US$1.00 of Price (as at the date of the Meeting or if no Price was determined on that date, the
most recently determined Price) attributable to the Affected Securities of which it is the holder or in respect of which it is the
proxy or duly authorised representative. The Extraordinary Resolution is an extraordinary resolution under the Trust Instrument
which, to be passed, must (on a poll) be passed by a majority consisting of the holders of not less than 75 per cent. by Price (or
if no Price is determined on the date of the Meeting, the most recently determined Price) of the Affected Securities voting on the
poll. For these purposes holders of the ETFS Wheat Individual Securities, the ETFS All Commodities Index Securities, the ETFS
Agriculture Index Securities, the ETFS Grains Index Securities and the ETFS Ex-Energy Index Securities will be treated as
though they were holders of the Micro Securities by reference to which the amount payable on Redemption of their Index
Securities and/or Individual Securities is calculated and not as though they were holders of the Index Securities and/or Individual
Securities.
18
5. The Issuer, pursuant to article 40 of the Companies (Uncertificated Securities) (Jersey) Order 1999, specifies that only those
Relevant Security Holders registered in the register of a type of Relevant Security Holders as at 6.00 p.m. on 19 August 2019
(or, in the event that the Meeting is adjourned, on the register of Relevant Security Holders at 6.00 p.m. on the second day prior
to the date of the adjourned meeting) shall be entitled to attend or vote at the Meeting in respect of the Relevant Securities
registered in their name at that time. Changes to entries on the registers of types of Relevant Security Holders after 6.00 p.m. on
[•] August 2019 (or, in the event that the Meeting is adjourned, on the registers of types of Relevant Security Holders after 6.00
p.m. on the second day prior to the date of the adjourned meeting) shall be disregarded in determining the rights of any person
to attend or vote at the Meeting (or adjourned meeting).
19
NOTICE OF MEETING
ETFS Commodity Securities Limited
(the “Issuer”)
Notice of a meeting of the holders (the “Relevant Security Holders”)
of the Sugar Micro Securities, the ETFS Sugar Individual Securities,
the ETFS All Commodities Index Securities, the ETFS Agriculture Index Securities,
the ETFS Softs Index Securities and the ETFS Ex-Energy Index Securities
(together the “Relevant Securities”) of the Issuer
NOTICE is hereby given that, pursuant to the provisions of the Fourth Schedule to the trust instrument dated
21 September 2006 constituting (inter alia) the Relevant Securities and made between (1) ETFS Commodity
Securities Limited (the “Issuer”) and (2) The Law Debenture Trust Corporation p.l.c. (the “Trustee”) as
amended by a supplemental trust instrument dated 17 September 2007, a second supplemental trust
instrument dated 23 April 2008, a third supplemental trust instrument dated 15 August 2008, a fourth
supplemental trust instrument dated 15 September 2008, a fifth supplemental trust instrument dated
8 October 2008, a sixth supplemental trust instrument dated 29 June 2009, a seventh supplemental trust
instrument dated 7 August 2009, an eighth supplemental trust instrument dated 20 January 2011, a ninth
supplemental trust instrument dated 14 March 2011, a tenth supplemental trust instrument dated
22 December 2011, an eleventh supplemental trust instrument dated 26 January 2012, a twelfth supplemental
trust instrument dated 14 December 2012, a thirteenth supplemental trust instrument dated 23 June 2014, a
fourteenth supplemental trust instrument dated 6 October 2014, a fifteenth supplemental trust instrument
dated 24 November 2014, a sixteenth supplemental trust instrument dated 3 July 2015 and a seventeenth
supplemental trust instrument dated 29 June 2017, each made between the Issuer and the Trustee (as so
amended, the “Trust Instrument”), a meeting of the Relevant Security Holders convened by the Issuer will
be held at the offices of R&H Fund Services (Jersey) Limited, Ordnance House, 31 Pier Road, St. Helier,
Jersey JE4 8PW at 9.45 a.m. on 21 August 2019 (or so soon thereafter as the meeting of the holders of the
Wheat Micro Securities, the ETFS Wheat Individual Securities, the ETFS All Commodities Index Securities,
the ETFS Agriculture Index Securities, the ETFS Grains Index Securities and the ETFS Ex-Energy Index
Securities of the Issuer convened for the same date and place shall have concluded or adjourned) for the
purpose of considering and, if thought fit, passing the following resolution which will be proposed as an
Extraordinary Resolution of the Relevant Security Holders pursuant to the terms of the Trust Instrument:
EXTRAORDINARY RESOLUTION
“THAT this meeting of the holders (the “Relevant Security Holders”) of the Sugar Micro Securities, the
ETFS Sugar Individual Securities, the ETFS All Commodities Index Securities, the ETFS Agriculture Index
Securities, the ETFS Softs Index Securities and the ETFS Ex-Energy Index Securities of ETFS Commodity
Securities Limited (the “Issuer”) constituted by the trust instrument dated 21 September 2006 (as
subsequently amended) (the “Trust Instrument”) and made between the Issuer and The Law Debenture
Trust Corporation p.l.c. as Trustee (the “Trustee”) for (inter alios) the Relevant Security Holders, hereby:
(1) pursuant to Clause 33.2(g) of, and paragraphs 19(a), (b) and (c) and 20 of the Fourth Schedule to, the
Trust Instrument, sanctions and consents to the reduction in the Principal Amount of the Sugar Micro
Securities to US$ 0.00000065 and the reduction accordingly of the Principal Amount of
the ETFS Sugar Individual Securities, the ETFS All Commodities Index Securities, the ETFS
Agriculture Index Securities, the ETFS Softs Index Securities and the ETFS Ex-Energy Index
Securities, to the extent they are comprised of Sugar Micro Securities (the “Proposal”);
(2) assents to the modification of the Trust Instrument on the terms set out in the draft of a supplemental
trust instrument (substantially in the form of the draft produced to the meeting and signed for the
purposes of identification by the Chairman) (the “Supplemental Trust Instrument”);
(3) sanctions, authorises, directs and instructs the Trustee to concur in and execute the Supplemental Trust
Instrument with the Issuer embodying such reduction referred to in paragraph (2) of this
20
Extraordinary Resolution in substantially the form of the draft produced to the meeting and signed for
the purposes of identification by the Chairman (with such additions or modifications, if any, as shall
be agreed between the Issuer and the Trustee);
(4) generally sanctions, authorises, directs, instructs and empowers the Trustee and the Issuer to concur
in and execute and do, all such other deeds, instruments, acts and things as may be necessary or
desirable to carry out and give effect to this Extraordinary Resolution and the implementation of the
Proposal;
(5) determines in accordance with Condition 8.19(b) that, if, immediately prior to the conclusion of the
Meeting, the right to Redeem the Relevant Securities pursuant to Condition 8.1(a) has been suspended
by the Issuer pursuant to Condition 8.19 and such suspension is still in effect immediately prior to the
conclusion of the Meeting, such suspension shall terminate on the date of the Supplemental Trust
Instrument;
(6) pursuant to Clause 33.2(g) of, and to paragraphs 19(d) and 20 of the Fourth Schedule to, the Trust
Instrument, releases the Trustee from any liability for complying with the directions given in
paragraphs (3) and (4) of this Extraordinary Resolution; and
(7) confirms that terms used in this Extraordinary Resolution and not otherwise defined bear the same
meanings as in the Trust Instrument.”
ETFS Commodity Securities Limited By Order of the Board
Ordnance House
31 Pier Road R&H Fund Services (Jersey) Limited
St. Helier Secretary
Jersey JE4 8PW
29 July 2019
NOTES
1. A white form of proxy is enclosed with this notice for use by holders of Relevant Securities. A Relevant Security Holder entitled
to attend and vote at the Meeting is also entitled to appoint one or more proxies to attend and vote instead of him or her. The
proxy need not be a Relevant Security Holder.
2. To be effective, the instrument appointing a proxy and the power of attorney or other authority (if any) under which it is signed
or a certified copy of such power or authority must be deposited at the office of the Company’s Registrar, Computershare Investor
Services (Jersey) Limited, c/o The Pavilions, Bridgwater Road, Bristol BS99 6ZY, not later than 9.45 a.m. on 19 August 2019.
Completion and return of the form of proxy will not preclude a Relevant Security Holder from attending and voting in person at
the Meeting.
3. The quorum for passing an Extraordinary Resolution shall be one or more persons being Relevant Security Holders present in
person or by proxy or (in the case of a Relevant Security Holder which is a corporation) by its duly authorised representative and
holding or representing in the aggregate three-fourths of the aggregate by Price (as at the date of the Meeting or, if no Price was
determined on that date, the most recently determined Price) of the Affected Securities for the time being outstanding. If within
15 minutes (or such longer period not exceeding 30 minutes as the Chairman may decide) from the time appointed for holding
the meeting a quorum is not present, the meeting will be adjourned to such day and time being not less than thirteen days nor
more than forty-two days thereafter and to such place as may be appointed by the Chairman and at such adjourned meeting the
quorum will be one or more persons being Relevant Security Holders present in person or by proxy (or, in the case of a
corporation, by its duly authorised representative) whatever the aggregate Price of the Affected Securities held by them.
4. On a show of hands every Security Holder who is present in person or by proxy or (in the case of a Security Holder which is a
corporation) by its duly authorised representative shall have one vote. On a poll every Security Holder who is so present shall
have one vote in respect of every US$1.00 of Price (as at the date of the Meeting or if no Price was determined on that date, the
most recently determined Price) attributable to the Affected Securities of which it is the holder or in respect of which it is the
proxy or duly authorised representative. The Extraordinary Resolution is an extraordinary resolution under the Trust Instrument
which, to be passed, must (on a poll) be passed by a majority consisting of the holders of not less than 75 per cent. by Price (or
if no Price is determined on the date of the Meeting, the most recently determined Price) of the Affected Securities voting on the
poll. For these purposes holders of the ETFS Sugar Individual Securities, the ETFS All Commodities Index Securities, the ETFS
Agriculture Index Securities, the ETFS Softs Index Securities and the ETFS Ex-Energy Index Securities will be treated as though
they were holders of the Micro Securities by reference to which the amount payable on Redemption of their Index Securities
and/or Individual Securities is calculated and not as though they were holders of the Index Securities and/or Individual Securities.
21
5. The Issuer, pursuant to article 40 of the Companies (Uncertificated Securities) (Jersey) Order 1999, specifies that only those
Relevant Security Holders registered in the register of a type of Relevant Security Holders as at 6.00 p.m. on 19 August 2019
(or, in the event that the Meeting is adjourned, on the register of Relevant Security Holders at 6.00 p.m. on the second day prior
to the date of the adjourned meeting) shall be entitled to attend or vote at the Meeting in respect of the Relevant Securities
registered in their name at that time. Changes to entries on the registers of types of Relevant Security Holders after 6.00 p.m. on
19 August 2019 (or, in the event that the Meeting is adjourned, on the registers of types of Relevant Security Holders after
6.00 p.m. on the second day prior to the date of the adjourned meeting) shall be disregarded in determining the rights of any
person to attend or vote at the Meeting (or adjourned meeting).
22
NOTICE OF MEETING
ETFS Commodity Securities Limited
(the “Issuer”)
Notice of a meeting of the holders (the “Relevant Security Holders”)
of the Coffee Micro Longer Dated Securities, the ETFS Longer Dated Coffee Individual Securities,
the ETFS Longer Dated All Commodities Index Securities, the ETFS Longer Dated Agriculture
Index Securities, the ETFS Longer Dated Softs Index Securities and the
ETFS Longer Dated Ex-Energy Index Securities
(together the “Relevant Securities”) of the Issuer
NOTICE is hereby given that, pursuant to the provisions of the Fourth Schedule to the trust instrument dated
21 September 2006 constituting (inter alia) the Relevant Securities and made between (1) ETFS Commodity
Securities Limited (the “Issuer”) and (2) The Law Debenture Trust Corporation p.l.c. (the “Trustee”) as
amended by a supplemental trust instrument dated 17 September 2007, a second supplemental trust
instrument dated 23 April 2008, a third supplemental trust instrument dated 15 August 2008, a fourth
supplemental trust instrument dated 15 September 2008, a fifth supplemental trust instrument dated
8 October 2008, a sixth supplemental trust instrument dated 29 June 2009, a seventh supplemental trust
instrument dated 7 August 2009, an eighth supplemental trust instrument dated 20 January 2011, a ninth
supplemental trust instrument dated 14 March 2011, a tenth supplemental trust instrument dated
22 December 2011, an eleventh supplemental trust instrument dated 26 January 2012, a twelfth supplemental
trust instrument dated 14 December 2012, a thirteenth supplemental trust instrument dated 23 June 2014, a
fourteenth supplemental trust instrument dated 6 October 2014, a fifteenth supplemental trust instrument
dated 24 November 2014, a sixteenth supplemental trust instrument dated 3 July 2015 and a seventeenth
supplemental trust instrument dated 29 June 2017, each made between the Issuer and the Trustee (as so
amended, the “Trust Instrument”), a meeting of the Relevant Security Holders convened by the Issuer will
be held at the offices of R&H Fund Services (Jersey) Limited, Ordnance House, 31 Pier Road, St. Helier,
Jersey JE4 8PW at 10.00 a.m. on 21 August 2019 (or so soon thereafter as the meeting of the holders of the
Sugar Micro Securities, the ETFS Sugar Individual Securities, the ETFS All Commodities Index Securities,
the ETFS Agriculture Index Securities, the ETFS Softs Index Securities and the ETFS Ex-Energy Index
Securities of the Issuer convened for the same date and place shall have concluded or adjourned) for the
purpose of considering and, if thought fit, passing the following resolution which will be proposed as an
Extraordinary Resolution of the Relevant Security Holders pursuant to the terms of the Trust Instrument:
EXTRAORDINARY RESOLUTION
“THAT this meeting of the holders (the “Relevant Security Holders”) of the Coffee Micro Longer Dated
Securities, the ETFS Longer Dated Coffee Individual Securities, the ETFS Longer Dated All Commodities
Index Securities, the ETFS Longer Dated Agriculture Index Securities, the ETFS Longer Dated Softs Index
Securities and the ETFS Longer Dated Ex-Energy Index Securities of ETFS Commodity Securities Limited
(the “Issuer”) constituted by the trust instrument dated 21 September 2006 (as subsequently amended) (the
“Trust Instrument”) and made between the Issuer and The Law Debenture Trust Corporation p.l.c. as
Trustee (the “Trustee”) for (inter alios) the Relevant Security Holders, hereby:
(1) pursuant to Clause 33.2(g) of, and paragraphs 19(a), (b) and (c) and 20 of the Fourth Schedule to, the
Trust Instrument, sanctions and consents to the reduction in the Principal Amount of the Coffee Micro
Longer Dated Securities to US$ 0.0000001 and the reduction accordingly of the Principal Amount of
the ETFS Longer Dated Coffee Individual Securities, the ETFS Longer Dated All Commodities Index
Securities, the ETFS Longer Dated Agriculture Index Securities, the ETFS Longer Dated Softs Index
Securities and the ETFS Longer Dated Ex-Energy Index Securities, to the extent they are comprised
of Coffee Micro Longer Dated Securities (the “Proposal”);
(2) assents to the modification of the Trust Instrument on the terms set out in the draft of a supplemental
trust instrument (substantially in the form of the draft produced to the meeting and signed for the
purposes of identification by the Chairman) (the “Supplemental Trust Instrument”);
23
(3) sanctions, authorises, directs and instructs the Trustee to concur in and execute the Supplemental Trust
Instrument with the Issuer embodying such reduction referred to in paragraph (2) of this
Extraordinary Resolution in substantially the form of the draft produced to the meeting and signed for
the purposes of identification by the Chairman (with such additions or modifications, if any, as shall
be agreed between the Issuer and the Trustee);
(4) generally sanctions, authorises, directs, instructs and empowers the Trustee and the Issuer to concur
in and execute and do, all such other deeds, instruments, acts and things as may be necessary or
desirable to carry out and give effect to this Extraordinary Resolution and the implementation of the
Proposal;
(5) determines in accordance with Condition 8.19(b) that, if, immediately prior to the conclusion of the
Meeting, the right to Redeem the Relevant Securities pursuant to Condition 8.1(a) has been suspended
by the Issuer pursuant to Condition 8.19 and such suspension is still in effect immediately prior to the
conclusion of the Meeting, such suspension shall terminate on the date of the Supplemental Trust
Instrument;
(6) pursuant to Clause 33.2(g) of, and to paragraphs 19(d) and 20 of the Fourth Schedule to, the Trust
Instrument, releases the Trustee from any liability for complying with the directions given in
paragraphs (3) and (4) of this Extraordinary Resolution; and
(7) confirms that terms used in this Extraordinary Resolution and not otherwise defined bear the same
meanings as in the Trust Instrument.”
ETFS Commodity Securities Limited By Order of the Board
Ordnance House
31 Pier Road R&H Fund Services (Jersey) Limited
St. Helier Secretary
Jersey JE4 8PW
29 July 2019
NOTES
1. A white form of proxy is enclosed with this notice for use by holders of Relevant Securities. A Relevant Security Holder entitled
to attend and vote at the Meeting is also entitled to appoint one or more proxies to attend and vote instead of him or her. The
proxy need not be a Relevant Security Holder.
2. To be effective, the instrument appointing a proxy and the power of attorney or other authority (if any) under which it is signed
or a certified copy of such power or authority must be deposited at the office of the Company’s Registrar, Computershare Investor
Services (Jersey) Limited, c/o The Pavilions, Bridgwater Road, Bristol BS99 6ZY, not later than 10.00 a.m. 19 August 2019.
Completion and return of the form of proxy will not preclude a Relevant Security Holder from attending and voting in person at
the Meeting.
3. The quorum for passing an Extraordinary Resolution shall be one or more persons being Relevant Security Holders present in
person or by proxy or (in the case of a Relevant Security Holder which is a corporation) by its duly authorised representative and
holding or representing in the aggregate three-fourths of the aggregate by Price (as at the date of the Meeting or, if no Price was
determined on that date, the most recently determined Price) of the Affected Securities for the time being outstanding. If within
15 minutes (or such longer period not exceeding 30 minutes as the Chairman may decide) from the time appointed for holding
the meeting a quorum is not present, the meeting will be adjourned to such day and time being not less than thirteen days nor
more than forty-two days thereafter and to such place as may be appointed by the Chairman and at such adjourned meeting the
quorum will be one or more persons being Relevant Security Holders present in person or by proxy (or, in the case of a
corporation, by its duly authorised representative) whatever the aggregate Price of the Affected Securities held by them.
4. On a show of hands every Security Holder who is present in person or by proxy or (in the case of a Security Holder which is a
corporation) by its duly authorised representative shall have one vote. On a poll every Security Holder who is so present shall
have one vote in respect of every US$1.00 of Price (as at the date of the Meeting or if no Price was determined on that date, the
most recently determined Price) attributable to the Affected Securities of which it is the holder or in respect of which it is the
proxy or duly authorised representative. The Extraordinary Resolution is an extraordinary resolution under the Trust Instrument
which, to be passed, must (on a poll) be passed by a majority consisting of the holders of not less than 75 per cent. by Price (or
if no Price is determined on the date of the Meeting, the most recently determined Price) of the Affected Securities voting on the
poll. For these purposes holders of the ETFS Longer Dated Coffee Individual Securities, the ETFS Longer Dated All
Commodities Index Securities, the ETFS Longer Dated Agriculture Index Securities, the ETFS Longer Dated Softs Index
24
Securities and the ETFS Longer Dated Ex-Energy Index Securities will be treated as though they were holders of the Micro
Securities by reference to which the amount payable on Redemption of their Index Securities and/or Individual Securities is
calculated and not as though they were holders of the Index Securities and/or Individual Securities.
5. The Issuer, pursuant to article 40 of the Companies (Uncertificated Securities) (Jersey) Order 1999, specifies that only those
Relevant Security Holders registered in the register of a type of Relevant Security Holders as at 6.00 p.m. on 19 August 2019
(or, in the event that the Meeting is adjourned, on the register of Relevant Security Holders at 6.00 p.m. on the second day prior
to the date of the adjourned meeting) shall be entitled to attend or vote at the Meeting in respect of the Relevant Securities
registered in their name at that time. Changes to entries on the registers of types of Relevant Security Holders after 6.00 p.m. on
19 August 2019 (or, in the event that the Meeting is adjourned, on the registers of types of Relevant