Statement on Dubai Gold Securities
Dubai, 2 February, 2010
Securities Holders will be aware that on 22 December 2009, the DFM announced its planned acquisition of the NASDAQ Dubai. The Press Release announced the consolidation of key market operations functions of the DFM and NASDAQ Dubai.
The current process for creation and redemption of the Dubai Gold Securities is on a T+3 delivery versus payment basis. As a result of this acquisition and the planned consolidation of trading, clearing, settlement and custody processes between NASDAQ Dubai and the DFM, the Directors of DGS LLP are considering whether any necessary steps are required to address any proposed changes in the current operational structure of the NASDAQ Dubai. To address this issue, the Directors of DGS LLP have appointed a sub-committee which will be reviewing any changes proposed and liaising with service providers and advisers to DGS LLP in relation to any steps which need to be taken.
A further announcement on any actions required by the DGS LLP Board and DGS LLP shall be made in due course.
Financial Information
| NASDAQ Dubai Code : GOLD | ||||
|---|---|---|---|---|
| Security Inception Date | 2 March 2009 | NASDAQ Dubai CODE | GOLD | |
| Expense Ratio | 0.40% p.a. | ISIN | AE000A0V1RL1 | |
| REUTERS | gold.di | BLOOMBERG | GOLD DU <Equity> | |
| GOLD Market Information | ||||
| Security Price
data delayed 20 minutes | bid: | $ | Premium/Discount to Indicative Value |
AWAITED% |
| mid-point: | $ | |||
| offer: | $ | |||
| Indicative Value per Security
data delayed 15 seconds |
bid: | $AWAITED | ||
| mid-point: | $AWAITED | |||
| offer: | $AWAITED | |||
| Per Security Entitlement to Gold*
*see below for explanation |
AWAITED% of 0.10oz | |||
| Dubai Gold Securities Information | ||||
| Total Ounces represented: | AWAITED oz | |||
| Total gold bars held by the Custodian: | AWAITED bars | |||
| Total Value of Gold held by the Custodian: | US$AWAITED | |||
| Spot Market Info | ||||
Live Gold Spot Price data delayed 15 seconds |
bid: | $AWAITED | ||
| mid-point: | $AWAITED | |||
| offer: | $AWAITED | |||
| London PM Fix | $AWAITED | |||
Indicative Value
Gold Entitlement
Each Dubai Gold security ("DGS") is equivalent to approximately 1/10th (commencing on the 2 March 2009) of one fine troy ounce of gold bullion.
The Indicative Value of each security is directly related to the Per Security Entitlement to gold.
Management Fee
The management fee of 0.40% p.a. is accrued daily and will be deducted from the gold backing each security and held on behalf of investors. As a result, the value of each security and the Per Security Entitlement to Gold will decline each day by the fee (assuming no change in the gold price). The fee is deducted by selling gold at the end of the month to cover the management fee.
Indicative Value
As a result, the Net Asset Value (NAV) at any time will be equal to the Per Security Entitlement to Gold multiplied by the spot price of gold in the investor's own currency.
| 2 March 2010 | NAV = 99.6% x 0.10 x 1 ounce gold x spot gold price |
|---|---|
| And So on ... | NAV = Per Security Entitlement to Gold x 0.10 x 1 ounce gold x spot gold price |
Per Security Entitlement to Gold
The following table sets out the Per Security Entitlement to Gold, assuming there is no change to the management fee.
Please note that the fee accrues daily. The table below is provided to show how the Per Security Entitlement to Gold will fall over time.
Per security entitlement to one-tenth (1/10) of one ounce of gold bullion:
| As at Date | % of 0.10oz | Per Security Entitlement to Gold |
Net Asset Value (based on gold price US$750/Oz) | Days in the month |
|---|---|---|---|---|
| 02-Mar-09 | 100.00% | 0.100000 | 75.00 | 31 |
| 01-Apr-09 | 99.97% | 0.099967 | 74.98 | 30 |
| 02-May-09 | 99.93% | 0.099933 | 74.95 | 31 |
| 01-Jun-09 | 99.90% | 0.099900 | 74.93 | 30 |
| 02-Jul-09 | 99.87% | 0.099866 | 74.90 | 31 |
| 02-Aug-09 | 99.83% | 0.099832 | 74.87 | 31 |
Historical Archive
To download the historical data for Dubai Gold Securities in CSV format, click here
