General Announcement::Important Announcement - Change in Settlement Cycle

Issuer & Securities

Issuer/ Manager
SPDR GOLD SHARES
Securities
SPDR GOLD SHARES - US78463V1070 - GSD
SPDR GOLD SHARES - US78463V1070 - O87
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
26-Apr-2024 22:22:31
Status
New
Announcement Sub Title
Important Announcement - Change in Settlement Cycle
Announcement Reference
SG240426OTHRRG7R
Submitted By (Co./ Ind. Name)
World Gold Trust Services, LLC
Designation
Via SGX Upload
Effective Date and Time of the event
26/04/2024 17:00:00
Description (Please provide a detailed description of the event in the box below)
Important Announcement Change in Settlement Cycle
We, World Gold Trust Services LLC (the Sponsor ), the sponsor of the SPDR Gold Trust (the Trust ), wish to announce and notify holders of the SPDR Gold Shares (the Shares ) of the Trust of the following:

CHANGE IN SETTLEMENT CYCLE FOR APPLCABLE SECURITIES TRANSACTIONS IN THE UNITED STATES ( U.S. )

With effect on and from 28 May 2024, the settlement cycle for broker-dealer securities transactions from U.S. financial institutions will be shortened from two (2) business days to one (1) business day after the trade date.

By way of background, on 15 February 2023, the U.S. Securities and Exchange Commission adopted rule changes to shorten by one (1) business day the standard settlement cycle for most broker-dealer securities transactions from U.S. financial institutions. Currently, the standard settlement cycle for these transactions is two (2) business days after the trade date, known as T+2. The amended rule shortens the settlement cycle to one (1) business day after the trade date or T+1 (the Change in Settlement Cycle ). This Change in Settlement Cycle will affect both the creation and redemption procedures for Baskets and trading in the Shares on NYSE Arca. Compliance with the new settlement cycle for the U.S. market will go into effect on 28 May 2024.

The following agreements will be amended on or around 28 May 2024 to reflect the shortened settlement cycle for the creation and redemption procedures of the Trust: (i) the Trust Indenture between the Sponsor and The Bank of New York Mellon, as the trustee of the Trust (the Trustee ), dated 12 November 2004, as amended from time to time, (ii) the Participant Agreements between the Sponsor, the Trustee and the authorized participants party thereto from time to time, (iii) the Fourth Amended and Restated Allocated Gold Account Agreement between HSBC Bank plc ( HSBC ) and the Trustee, dated 28 February 2023, and (iv) the Second Amended and Restated Unallocated Bullion Account Agreement between HSBC and the Trustee, dated 17 July 2015, as amended on 28 February 2023.

The above changes do not affect the current settlement cycle for transactions in the Shares on SGX-ST. There are no changes to the investment strategies and policies of the Trust as a result of the above changes. No actions are required from Shareholders.

Issued by World Gold Trust Services LLC (as sponsor of the Trust)

26 April 2024

Important: The SGX-ST takes no responsibility for the accuracy of any of the statements or opinions made in this announcement. This announcement is published for your information only. This announcement has not been reviewed by the Monetary Authority of Singapore. If you are in any doubt about this announcement, you should consult your stockbroker, bank manager, solicitor, professional accountant or other independent advisers. The Sponsor shall not be liable to investors for any tax liability that investors may incur.

Attachments

SGXNET Announcement Change in Settlement Cycle.pdf
Total size =176K