2 unchanged sentences
MARKET INFORMATION
−Removed: SPDR® Gold MiniShares
−Removed: Trust’s Shares are listed on the NYSE Arca under the symbol “GLDM” and have been listed since June 26, 2018.
+Added: SPDR® Gold MiniShares® Trust’s Shares are listed on the NYSE Arca under the symbol “GLDM” and have been listed since June 26, 2018.
HOLDERS OF RECORD
2 unchanged sentences
ISSUER PURCHASE OF SHARES
−Removed: Although GLDM does not purchase Shares directly from its shareholders, in connection with its redemption of Creation Units, GLDM redeemed 25,100,000 Shares (251 Baskets) during the year ended September 30, 2021, including 3,200,000 Shares (32 Baskets) for the three months ended September 30, 2021 as set forth in the table below.
+Added: Although GLDM does not purchase Shares directly from its shareholders, in connection with its redemption of Creation Units, GLDM redeemed 43,200,000 Shares (432 Creation Units) during the year ended September 30, 2022, including 16,000,000 Shares (160 Creation Units) for the three months ended September 30, 2022 as set forth in the table below.
Total number of
13 unchanged sentences
The Trust is sponsored by WGC USA Asset Management Company, LLC (the “Sponsor”).
−Removed: The Trust established six separate series, of which only SPDR® Gold MiniShares
−Removed: Trust (“GLDM”) is operational as of September 30, 2021.
+Added: The Trust established six separate series, of which only SPDR® Gold MiniShares® Trust (“GLDM”) is operational as of September 30, 2022.
GLDM commenced operations on June 26, 2018.
18 unchanged sentences
Inspectorate conducts two counts each year of the gold bullion held on behalf of the Trust at the vaults of the Custodian.
−Removed: A complete bar count is conducted once per year and coincides with the Trust’s financial year end at September 30
+Added: A complete bar count is conducted once per year and coincides with the Trust’s financial year end at September 30 th
On October 6, 2022, Inspectorate concluded the annual full count of the Trust’s gold bullion held by the Custodian.
−Removed: On October 4, 2021, Inspectorate concluded
−Removed: reconciliation procedures from September 17, 2021 through September 30, 2021.
The second count is a random sample count and is conducted at a date which falls within the same financial year and was conducted most recently on May 4, 2022.
16 unchanged sentences
GLDM’s net realized and change in unrealized loss on investment in gold for the year ended September 30, 2022 of $(289,201) is made up of a realized gain of $394 from the sale of gold to pay Sponsor fees, a realized gain of $32,782 from gold distributed for the redemption of shares, and a change in unrealized depreciation of $(322,377) on investment in gold.
−Removed: GLDM’s net realized and change in unrealized gain on investment in gold for the year ended September 30, 2020 of $446,656 is made up of a realized gain of $455 from the sale of gold to pay Sponsor fees, a realized gain of $37,008 from gold distributed for the redemption of shares, and a change in unrealized appreciation of $409,193 on investment in gold.
+Added: GLDM’s net realized and change in unrealized loss on investment in gold for the year ended September 30, 2021 of $(338,455) is made up of a realized gain of $634 from the sale of gold to pay Sponsor fees, a realized gain of $39,311 from gold distributed for the redemption of shares, and a change in unrealized depreciation of $(378,400) on investment in gold.
GLDM’s net realized and change in unrealized gain on investment in gold for the year ended September 30, 2020 of $446,656 is made up of a realized gain of $455 from the sale of gold to pay Sponsor fees, a realized gain of $37,008 from gold distributed for the redemption of shares, and a change in unrealized appreciation of $409,193 on investment in gold.
3 unchanged sentences
Creations (excluding gold receivable at September 30, 2022 – 0;
−Removed: 30, 2020—9,959.7 and September
−Removed: 30, 2019 – 9,977.5
+Added: September 30, 2021—0 and September 30, 2020—9,959.7)
Redemptions (excluding gold payable at September 30, 2022 – 31,570.5;
−Removed: 30, 2021 – 0;
−Removed: 30, 2020 – 0 and September
+Added: September 30, 2021 – 0 and September 30, 2020 – 0)
Sales of gold
6 unchanged sentences
Closing balance
+Added: Share values adjusted per reverse stock split effective Feb.
In the year ended September 30, 2022, 46,200,000 Shares (462 Creation Units) were created in exchange for 917,800.7 ounces of gold, 33,050,000 Shares (330 Creation Units) were redeemed in exchange for 656,595.4 ounces of gold and 3,537.3 ounces of gold were sold to pay Sponsor fees.
4 unchanged sentences
As at September 30, 2021, the amount of gold owned by GLDM and held by the custodian in its vault was 2,517,632.7 ounces, 100% of which is allocated gold in the form of London Good Delivery gold bars with a market value $4,387,730,778 based on the LBMA Gold Price PM on September 30, 2021 (cost—$4,237,695,934).
−Removed: At September 30, 2019, the amount of gold owned by GLDM was 707,501.2 ounces, with a market value of $1,050,857,504 (cost — $931,609,406) based on the LBMA Gold Price PM on September 30, 2019 (in accordance with the Declaration of Trust).
−Removed: At September 30, 2019, the Custodian held 697,523.6 ounces of gold in its vault, 100% of which is allocated gold in the form of London Good Delivery gold bars with a market value of $1,036,031,998 (cost — $916,789,900).
−Removed: Subcustodians did not hold any gold in their vaults on behalf of GLDM.
+Added: As at September 30, 2020, the amount of gold owned by GLDM and held by the custodian in its vault was 1,887,680.9 ounces, 100% of which is allocated gold in the form of London Good Delivery gold bars with a market value $3,542,996,473 based on the LBMA Gold Price PM on September 30, 2020 (cost—$3,014,561,176).
Cash Flow from Operations
27 unchanged sentences
June 30, 2021
−Removed: June 30, 2020
Three months to September 30, 2021
+Added: July 29, 2021
Three months to December 31, 2021
11 unchanged sentences
The LBMA Gold Price AM on the last business day of December 2021, 2020 and 2019 was $1,820.10, $1,891.10 and $1,523.00 respectively.
−Removed: The Net Asset Value of the Trust on December 31, 2020, 2019 and 2018 was calculated using the LBMA Gold Price AM, in accordance with the Trust Indenture.
+Added: The Net Asset Value of the Trust on December 31, 2021, 2020 and 2019 was calculated using the LBMA Gold Price AM.
Quantitative and Qualitative Disclosures about Market Risk
2 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.