Summary
This 8-K filing for iShares Gold Trust (IAU) on February 14, 2012, announces a significant amendment to its Custodian Agreement. The primary change involves modifying the termination terms between the Trust's Trustee, The Bank of New York Mellon, and the Custodian, JPMorgan Chase Bank N.A., London Branch. This amendment extends the earliest possible termination date to on or after January 1, 2015, and requires a minimum of 180 business days' notice for termination by either party. For investors, this update signifies a period of continued operational stability regarding the safekeeping of the Trust's gold holdings. By adjusting the termination clause, the amendment ensures a defined notice period, allowing for orderly transitions if a change in custodian were to occur in the future. This provides a layer of predictability concerning the management and administration of the Trust's underlying assets.
Key Highlights
- 1Amendment to the Custodian Agreement for iShares Gold Trust (IAU) filed.
- 2The amendment was entered into on February 10, 2012.
- 3The Bank of New York Mellon (Trustee) and JPMorgan Chase Bank N.A., London Branch (Custodian) are parties to the amendment.
- 4The earliest date for termination of the Custodian Agreement is now on or after January 1, 2015.
- 5A minimum of 180 business days' written notice is required for termination by either the Trustee or the Custodian.
- 6This amendment affects the terms governing the safekeeping and administration of the Trust's gold holdings.