01—Abstract
Summary
Summary of the 10-K/A filed October 10, 2008. Cited figures are marked; the original filing is the authoritative source.
This document is Amendment No. 1 (Form 10-K/A) to the annual report of the streetTRACKS® Gold Trust, the NYSE-listed gold-backed exchange-traded fund now known as SPDR Gold Trust (GLD), for the fiscal year ended September 30, 2007.
It is not a full annual report. It contains no financial statements, no MD&A, no portfolio or gold-holdings data, and no risk factors. The registrant states that its sole purpose is to file executed versions of previously filed exhibits (4.1, 4.3, 10.1, 10.2, 10.4, 10.6 through 10.11) in place of earlier forms, and that it does not update or modify the original 10-K filed November 23, 2007.
The cover page sets out the basic structural facts. The Trust is a New York trust sponsored by World Gold Trust Services, LLC, with offices at 444 Madison Avenue in New York. It had 191,500,000 shares outstanding as of November 19, 2007.
The aggregate market value of shares held by non-affiliates was approximately $10.22 billiona as of March 30, 2007. The registrant is a large accelerated filer and a well-known seasoned issuer. The exhibit list identifies the core contracts that govern the Trust's operations, including the Trust Indenture, Sponsor Payment and Reimbursement Agreement, Allocated and Unallocated Bullion Account Agreements, Depository Agreement, and Marketing Agent agreements.
For investors, this filing adds no new performance, valuation, or risk information. Investors seeking financial results, gold holdings, fee structure, or risk disclosures for fiscal 2007 should consult the original Form 10-K filed November 23, 2007. This amendment is mainly useful as a source of the executed governing agreements.
02—Key points
Key Highlights
- Filing type: Amendment No. 1 (10-K/A) for the fiscal year ended September 30, 2007. It was signed October 10, 2008, but it does not reflect events after the original 10-K filed November 23, 2007.
- Purpose: solely to file executed versions of exhibits 4.1, 4.3, 10.1, 10.2, 10.4, 10.6, 10.7, 10.8, 10.9, 10.10 and 10.11, replacing previously filed forms. No financial statements or other disclosures were changed.
- Structure: a New York trust sponsored by World Gold Trust Services, LLC, with principal offices at 444 Madison Avenue, New York, NY. Shares trade on the New York Stock Exchange as streetTRACKS® GOLD Shares.
- Scale: 191,500,000 shares outstanding as of November 19, 2007. Non-affiliate market value was about $10.22 billion based on the March 30, 2007 closing price.
- Governing agreements referenced include the Trust Indenture and Sponsor Payment and Reimbursement Agreement (November 12, 2004), the Allocated and Unallocated Bullion Account Agreements (November 12, 2004), the Depository Agreement (November 11, 2004), and several Marketing Agent and WGC/WGTS license and funding agreements (October to December 2004 and December 5, 2005 for an amendment).
- Omitted content: this amendment contains no portfolio, gold holdings, net asset value, expense ratio, performance, or risk factor information. Those items appear only in the original 10-K.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-K/AFY2007filed October 10, 2008Financial Statements
| Gross Profit | $6.91M |
| Operating Expenses | $39.67M |
| Net Income | $313.44M |
| EPS (Basic) | $2.05 |
| Shares Outstanding (Basic) | 152.87M |
05—Questions
Frequently Asked Questions
Does this amendment change any financial results or disclosures for the Trust?
No. The explanatory note states that, other than substituting the listed exhibits, the amendment does not modify or update the disclosures in the original Form 10-K filed November 23, 2007.
Where can I find the Trust's fiscal 2007 financial statements and gold holdings?
This amendment does not include them. The financial statements and other disclosures are in the original Annual Report on Form 10-K filed November 23, 2007, for the fiscal year ended September 30, 2007.
How many shares were outstanding, and what was the size of the Trust?
The cover page reports 191,500,000 shares outstanding as of November 19, 2007. The aggregate market value of shares held by non-affiliates was about $10.22 billion based on the March 30, 2007 NYSE closing price.
Who sponsors the Trust and who signed this filing?
World Gold Trust Services, LLC is the sponsor. James Burton, Managing Director (principal executive officer), and James Lowe, Chief Financial Officer and Treasurer (principal financial and accounting officer), signed on behalf of the sponsor.
Why was this amendment filed nearly a year after the original 10-K?
The filing does not explain the timing. It states only that the exhibits being filed are the executed versions of forms previously filed, and that the amendment does not reflect any later events.
06—Continue