What is the difference between certificated and uncertificated shares?
All of the shares issued by the Orbis funds are registered. This means that the official record of ownership of shares in the Orbis funds is the share register maintained by Citigroup. In addition, you may request that certificates be issued. When certificated shares are redeemed, you must return your certificates (or at least certificates representing sufficient shares for the requested redemption) to Citigroup before the redemption will be processed. It will delay the redemption process if the share certificate is not delivered promptly or is lost. If you have provided a signed original Communications Agreement to Citigroup or elected to communicate via electronic communication in the Account Opening Form, and sent by fax a copy of the required certificates, your redemption will be processed, however the proceeds will not be remitted until the original certificates are returned to Citigroup. In the case of partial redemptions, a certificate will be issued for the remaining shares.
