TORONTO, Oct. 8, 2021 /CNW/ - Horizons ETFs Management
(Canada) Inc. ("Horizons
ETFs") has announced today that it intends to consolidate
shares of the BetaPro Natural Gas Inverse Leveraged Daily Bear ETF
("HND" or the "Consolidating ETF") as indicated in
the table below.
Share Consolidation
After the close of trading on Thursday,
November 4, 2021, on the Toronto Stock Exchange (the
"TSX"), the shares of the Consolidating ETF will be
consolidated on the basis of the ratio (the "Consolidation
Ratio") set out below:
|
ETF
Name
|
Ticker
|
Consolidation
Ratio
|
|
BetaPro Natural Gas
Inverse Leveraged Daily Bear ETF
|
HND
|
1:10
|
The shares of HND will begin trading on a post-consolidated
basis on Friday, November 5, 2021,
the effective date of the consolidation.
When a share consolidation occurs, the net asset value per share
is increased by the same ratio as the share consolidation so that
the share consolidation has no impact on the value of the
investor's total share position. An investor's cost per share is
also increased by the same ratio as the share consolidation,
although their total cost remains unchanged.
No fractional shares will be issued. Where the consolidation
results in a fractional share, the number of post-consolidation
shares will be rounded down to the nearest whole share, in the case
of a fractional interest that is less than 0.5, or rounded up to
the nearest whole number, in the case of a fractional interest that
is 0.5 or greater.
Horizons ETFs reserves the right to cancel or amend this
corporate action if we deem it appropriate to do so, before the
effective date of Friday, November 5,
2021.
Shareholder Information
Shareholders of the Consolidating ETF do not need to take any
action to effect this transaction. Shareholders will have their
brokerage accounts automatically updated to reflect the
consolidation. A shareholder's broker may take several days to
reflect this transaction in the shareholder's account (the
"Settlement Period"). However, the shareholder is still able
to trade the shares of the Consolidating ETF during this time. If
they wish to do so, Horizons ETFs recommends investors contact
their broker by phone during the Settlement Period in order to
trade the post-consolidation shares.
About Horizons ETFs Management (Canada) Inc.
(www.HorizonsETFs.com)
Horizons ETFs Management (Canada) Inc. is an innovative financial
services company and offers one of the largest suites of exchange
traded funds in Canada. The
Horizons ETFs product family includes a broadly diversified range
of solutions for investors of all experience levels to meet their
investment objectives in a variety of market conditions. Horizons
ETFs has more than $19 billion of assets under management and
98 ETFs listed on major Canadian stock exchanges.
SOURCE Horizons ETFs Management (Canada) Inc.
