Shares in Issue Changes

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For the purposes of computing the FTSE Index Series, the number of shares in issue for each constituent security is expressed to the nearest share. To prevent a large number of insignificant weighting changes, the number of shares in issue for each constituent security is amended only when the total shares in issue held within the index system changes by more than 1% on a cumulative basis. Changes will be made quarterly after the close of business on the third Friday of March, June, September and December.

If a corporate action is applied to an index constituent, which involves a change in the number of shares in issue, the change in shares will be applied simultaneously with the corporate action.

If accumulated changes in the number of shares in issue add up to 10% or more or when an accumulated share change represents USD 2bn of a company's total market capitalisation, they are implemented between quarters. A minimum of 4 days notice will be given to users of the index. WM/Reuters Spot Rates will be used to convert the market capitalisation into USD. The USD 2bn threshold may be adjusted annually in December by the FTSE Equity Indices Committee. If an adjustment is made, it will be applied for the first time at the next review in March of the following year.

Any exceptions to the above arrangements will be agreed with the Chairman of the relevant FTSE Regional Committee and notified to all users in advance of being implemented.

All adjustments are made before the start of the index calculation on the day concerned, unless market conditions prevent this.