CoinShares Digital Securities Limited: Compulsory Redemption & Suspension - FTX Token ETP
CoinShares Digital Securities Limited (the "Issuer") gives notice pursuant to Condition8.1 of the Conditions that all CoinShares FTX Physical FTX Token Digital Securities are to be redeemed compulsorily and that the Issuer has nominated December 19th, 2022 (the "Physical FTX Redemption Date") to be the Compulsory Redemption Date in respect of the CoinShares FTX Physical FTX Token Digital Securities.
- CoinShares Digital Securities Limited (the "Issuer") gives notice pursuant to Condition8.1 of the Conditions that all CoinShares FTX Physical FTX Token Digital Securities are to be redeemed compulsorily and that the Issuer has nominated December 19th, 2022 (the "Physical FTX Redemption Date") to be the Compulsory Redemption Date in respect of the CoinShares FTX Physical FTX Token Digital Securities.
- Settlement in respect of such CoinShares FTX Physical FTX Token Digital Securities on Redemption will be effected as soon after the Physical FTX Redemption Date as reasonably practicable and in any event is expected to be settled by the fifteenth (15) Business Day after the Physical FTX Redemption Date.
- The Issuer further gives notice pursuant to Condition7.13 that, the Determination Agent having determined that the prevailing market value of the Coin Entitlement of each CoinShares FTX Physical FTX Token Digital Security is less than its Principal Amount (US$0.54), has suspended the right to Redeem the CoinShares FTX Physical FTX Token Digital Securities pursuant to Conditions 7.2 (Redemption by Authorised Participants), 7.3 (Redemption by other Security Holders) (if applicable) and 7.4 (Redemption by other Security Holders seeking Physical Delivery) with effect from close of business on the date of this notice.
- Settlement of cash redemption proceeds due to Security Holders holding their CoinShares FTX Physical FTX Token Digital Securities in uncertificated form is expected to be made via CREST.