Standard & Poor’s will make the following changes in the S&P Global 100 Index:
- National Grid Plc (Great Britain, SEDOL: B08SNH3, GICS Code: 55103010) will replace Tyco International Ltd. (USA, SEDOL: B1YW9H8, GICS Code: 20105010) in the S&P Global 100 after the close of trading on March 16, 2009. Tyco is in the process of redomesticating to Switzerland, and will be dropped from the Global 1200 as of that date.
- Schneider Electric SA (France, SEDOL: 4834108, GICS Code: 20104010) will replace General Motors (USA, SEDOL: 2365804, GICS Code: 25102010) and Rio Tinto Plc (Great Britain, SEDOL: 0718875, GICS Code: 15104020) will replace American International Group (US, SEDOL: 2027342, GICS Code: 40301030) in the S&P Global 100, all after the close of trading on March 20, 2009. As of March 10, 2009, General Motors had a float-adjusted market capitalization of US$1.2 billion, and American International Group had a float-adjusted market capitalization of US$1.1 billion, ranking them the smallest companies in the index, and falling well below the market capitalization requirements for the index.
When added after the close of March 16, the number of shares outstanding for National Grid PLC will be 2,428,218,000 and the Investable Weight Factor will be 1.00. Revised outstanding shares as well as Investable Weight Factors for National Grid Plc, Schneider Electric SA and Rio Tinto Plc will be included in the quarterly share announcement, which will be made at the close of business on Friday, March 13, 2009.
National Grid Plc is an international electricity and gas company operating across Great Britain and the northeastern US. They also have interests in related markets, including electricity interconnectors, metering services, liquefied natural gas (LNG) facilities and property in the UK, LNG storage and transportation, unregulated gas transmission pipelines and home energy services in the US.
Schneider Electric SA is a global manufacturer of power distribution and automations systems. The company produces circuit breakers, remote installation management equipment, panel boards, programmable logic controllers, industrial control products, detectors, human-machine interfaces, and process controls.
Rio Tinto Plc is a global mining and natural resource company. Major products are aluminum, copper, diamonds, energy (coal and uranium), gold, industrial minerals (borax, titanium dioxide, salt, talc) and iron ore. The group has interests and operations in Australia, New Zealand, South Africa, the Americas, Europe, and Indonesia.
Following is a summary of the changes:
S&P Global 100 INDEX – close of trading, March 16, 2009 |
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COMPANY |
GICS ECONOMIC SECTOR |
GICS SUB-INDUSTRY |
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ADDED |
National Grid Plc |
Utilities |
Multi-Utilities |
||
DELETED |
Tyco International Ltd. |
Industrials |
Industrial Conglomerates |
S&P Global 100 INDEX – close of trading, March 20, 2009 |
|||||
COMPANY |
GICS ECONOMIC SECTOR |
GICS SUB-INDUSTRY |
|||
ADDED |
Schneider Electric SA |
Industrials |
Electrical Components & Equipment |
||
ADDED |
Rio Tinto PLC |
Materials |
Diversified Metals & Mining |
||
DELETED |
General Motors |
Consumer Discretionary |
Automobile Manufacturers |
||
DELETED |
American Int’l Group |
Financials |
Multi-Line Insurance |
Additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the companies concerned.