Tortoise Capital Announces Tortoise Recycling Decarbonization Index and Tortoise Recycling Decarbonization UCITS Index Constituent Changes Due to Corporate Action
Tortoise Capital announced the removal of Greenvolt Energias Renovaveis SA (GVOLT) from both the Tortoise Recycling Decarbonization UCITS Index (RECYCLET) and the Tortoise Recycling Decarbonization Index (RCYCLT). The removal, effective at market open on October 31, 2024, follows GVK Omega's completed tender offer for GVOLT. No special rebalancing is required, as GVOLT's weight will be distributed proportionally among remaining index constituents.
Tortoise Capital ha annunciato la rimozione di Greenvolt Energias Renovaveis SA (GVOLT) sia dall'Tortoise Recycling Decarbonization UCITS Index (RECYCLET) che dal Tortoise Recycling Decarbonization Index (RCYCLT). La rimozione, che avrà effetto all'apertura del mercato il 31 ottobre 2024, segue l'offerta pubblica di acquisto completata da GVK Omega per GVOLT. Non sono necessarie ribilanciamenti speciali, poiché il peso di GVOLT sarà distribuito proporzionalmente tra i restanti componenti dell'indice.
Tortoise Capital anunció la eliminación de Greenvolt Energias Renovaveis SA (GVOLT) tanto del Tortoise Recycling Decarbonization UCITS Index (RECYCLET) como del Tortoise Recycling Decarbonization Index (RCYCLT). La eliminación, que será efectiva al inicio del mercado el 31 de octubre de 2024, sigue a la oferta pública de adquisición completada por GVK Omega para GVOLT. No se requiere un reajuste especial, ya que el peso de GVOLT se distribuirá proporcionalmente entre los restantes componentes del índice.
Tortoise Capital는 Greenvolt Energias Renovaveis SA (GVOLT)를 Tortoise Recycling Decarbonization UCITS Index (RECYCLET)와 Tortoise Recycling Decarbonization Index (RCYCLT)에서 모두 제외한다고 발표했습니다. 이 제거는 2024년 10월 31일 시장 개장 시점부터 효력을 발생하며, 이는 GVK Omega의 GVOLT에 대한 공개 매수 제안 완료에 따른 것입니다. 특별한 리밸런싱이 필요하지 않으며, GVOLT의 비중은 잔여 지수 구성 요소 사이에 비례적으로 분배될 것입니다.
Tortoise Capital a annoncé le retrait de Greenvolt Energias Renovaveis SA (GVOLT) à la fois de l'Tortoise Recycling Decarbonization UCITS Index (RECYCLET) et de l'Tortoise Recycling Decarbonization Index (RCYCLT). Ce retrait, qui sera effectif à l'ouverture du marché le 31 octobre 2024, fait suite à l'offre publique d'achat réalisée par GVK Omega pour GVOLT. Aucun rééquilibrage spécial n'est nécessaire, car le poids de GVOLT sera réparti proportionnellement entre les autres composants de l'indice.
Tortoise Capital hat die Entfernung von Greenvolt Energias Renovaveis SA (GVOLT) sowohl aus dem Tortoise Recycling Decarbonization UCITS Index (RECYCLET) als auch aus dem Tortoise Recycling Decarbonization Index (RCYCLT) bekannt gegeben. Die Entfernung, die zum Marktstart am 31. Oktober 2024 wirksam wird, erfolgt nach dem Abschluss des Übernahmeangebots von GVK Omega für GVOLT. Es sind keine speziellen Neugewichtungsvorgänge erforderlich, da das Gewicht von GVOLT proportional auf die verbleibenden Indexbestandteile verteilt wird.
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Insights
The removal of Greenvolt Energias Renovaveis from the Tortoise Recycling Decarbonization indices represents a minor technical adjustment following its acquisition by GVK Omega. This index rebalancing is a routine administrative change that will have minimal impact on the overall index performance, as GVOLT's weight will be proportionally redistributed among remaining constituents. For investors tracking these indices, the change requires no immediate portfolio action since the rebalancing occurs automatically. The broader implications for the renewable energy sector and index composition remain neutral, with no significant shifts in the indices' focus on recycling and decarbonization themes.
OVERLAND PARK, KS / ACCESSWIRE / October 30, 2024 / Tortoise Capital today announced that Greenvolt Energias Renovaveis SA (GVOLT) will be removed from the Tortoise Recycling Decarbonization UCITS IndexSM (RECYCLET) and the Tortoise Recycling Decarbonization IndexSM (RCYCLT) due to the completion of a tender offer by GVK Omega. As a result, GVOLT will be removed from the Indices when the market opens on Oct. 31, 2024.
Special rebalancing is not required for RECYCLET and RCYCLT. GVOLT will be removed, and its weight distributed pro rata to remaining Index constituents.
About Tortoise Index Solutions (TIS)
TIS provides research-driven indices that can be used as a realistic basis for exchange-traded products and thought leadership in the universe of essential assets. Its indices are intended to fill a void in the market and provide benchmarks and investable asset class universes for use by investment professionals, research analysts and industry executives to analyze relative performance as well as to provide a basis for passively managed exchange-traded products. To learn more, please visit www.TortoiseAdvisors.com.
About Tortoise Capital
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The Tortoise Recycling Decarbonization IndexSM is a modified capitalization weighted index that tracks the performance of companies involved in waste-to-energy and recycling technologies that trade on developed and developing market exchanges. Waste-to-Energy is the process of generating energy from waste such as garbage, animal manure, agriculture products and/or animal fats and thus includes companies that produce renewable natural gas and diesel as well as ethanol. Recycling includes companies that recycle plastic waste, lithium-ion batteries as well as carbon capture sequestration.
The Tortoise Recycling Decarbonization UCITS IndexSM is a modified capitalization weighted index that tracks the performance of companies involved in waste-to-energy and recycling technologies that trade on developed and developing market exchanges. The Index includes an assessment of environmental, social, and governance (ESG) considerations.Waste-to-Energy is the process of generating energy from waste such as garbage, animal manure, agriculture products and/or animal fats and thus includes companies that produce renewable natural gas and diesel as well as ethanol. Recycling includes companies that recycle plastic waste, lithium-ion batteries as well as carbon capture sequestration.
The indices mentioned above are the exclusive property of TIS and are calculated by Solactive AG ("Solactive"). The financial instruments that are based on the Index are not sponsored, endorsed, promoted or sold by Solactive AG ("Solactive") in any way and Solactive makes no express or implied representation, guarantee or assurance with regard to: (a) the advisability in investing in the financial instruments; (b) the quality, accuracy and/or the completeness of the Index or the calculations thereof; and/or (c) the results obtained or to be obtained by any person or entity from the use of the Index.
This data is provided for informational purposes only and is not intended for trading purposes. This document shall not constitute an offering of any security, product or service. The addition, removal or inclusion of a security in the index is not a recommendation to buy, sell or hold that security, nor is it investment advice. The information contained in this document is current as of the publication date. Tortoise Capital makes no representations with respect to the accuracy or completeness of these materials and will not accept responsibility for damages, direct or indirect, resulting from an error or omission in this document. The methodology involves rebalancing and maintenance of the index that is made periodically during each year and may not, therefore, reflect real time information.
Safe Harbor Statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
Media Contacts
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Newton Park PR
+1 847-507-2229
+1 617-312-4281
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rich@newtonparkpr.com
SOURCE: Tortoise Capital
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FAQ
Why is Greenvolt (GVOLT) being removed from Tortoise Recycling indices?
How will the removal of GVOLT affect the Tortoise Recycling indices' weights?
When will GVOLT be removed from the Tortoise Recycling indices?
