8-KOther EventsExhibits & Filings

ISHARES GOLD TRUST 8-K Report, Corporate Update (Mar 7, 2016)

Filed March 7, 2016For Securities:IAU

Summary

This 8-K filing from iShares Gold Trust (IAU) reports on a temporary suspension and subsequent resumption of new share creation, along with the filing of a new shelf registration statement. The suspension, announced on March 4, 2016, was due to the Trust inadvertently issuing and selling more shares than were registered under its previous shelf registration statement filed on March 20, 2015. This over-issuance occurred between February 19 and March 3, 2016, totaling 24,900,000 shares. Following this, on March 7, 2016, the Sponsor announced the resumption of share creation and filed a new, automatically effective shelf registration statement with the SEC. This filing is crucial for investors as it addresses a compliance issue and ensures the Trust can continue to issue new shares to meet market demand. The inadvertent nature of the over-issuance suggests a procedural oversight rather than a fundamental operational problem, and the prompt filing of a new registration statement indicates a swift resolution.

Key Highlights

  • 1iShares Gold Trust (IAU) temporarily suspended the creation of new shares on March 4, 2016.
  • 2The suspension was due to inadvertently exceeding the registered share limit under the prior shelf registration statement.
  • 3A total of 24,900,000 shares were issued in excess between February 19 and March 3, 2016.
  • 4Share creation has resumed as of March 7, 2016.
  • 5A new, automatically effective shelf registration statement was filed on March 7, 2016, to accommodate future share creations.
  • 6The filing indicates a resolution to the registration compliance issue.
  • 7The Sponsor, iShares Delaware Trust Sponsor LLC, managed the suspension and resumption process.

Frequently Asked Questions

The creation of new IAU shares was temporarily suspended because the Trust inadvertently issued and sold more shares than were registered on its existing shelf registration statement. This over-issuance occurred between February 19 and March 3, 2016.

Yes, the creation of new shares for iShares Gold Trust (IAU) resumed on March 7, 2016, following the temporary suspension.

On March 7, 2016, iShares Gold Trust filed a new, automatically effective shelf registration statement with the SEC. This new filing registers additional shares to accommodate future creations in the primary market and rectifies the previous oversight.

The filing indicates a procedural issue related to the issuance of new shares. The temporary suspension and subsequent resolution through a new registration statement are intended to ensure the Trust's ongoing compliance and ability to create shares. Existing shares held by investors are not directly affected by this registration compliance event, although market dynamics of supply and demand for new shares could influence the ETF's price.