TORONTO,
Oct. 23, 2015 /CNW/ - Horizons
ETFs Management (Canada) Inc.
("Horizons ETFs"), the manager and trustee of the exchange
traded funds listed below (the "ETFs"), has announced today
that it intends to consolidate the units of the ETFs as indicated
in the table below.
Unit Consolidations
After the close of trading on Wednesday, November 25, 2015, on the Toronto
Stock Exchange (the "TSX"), the units of the ETFs will be
consolidated on the basis of the ratios (the "Consolidation
Ratios") set out below, and will begin trading on a post
consolidated basis on Thursday, November 26,
2015, the effective date of the consolidations:
|
ETF
|
Ticker
|
Consolidation
Ratio
|
|
Horizons BetaPro
S&P/TSX Global Gold™ Bull Plus ETF
|
HGU
|
1 : 2
|
|
Horizons BetaPro
S&P 500® Inverse ETF
|
HIU
|
1 : 2
|
|
Horizons BetaPro NYMEX®
Natural Gas Bull Plus ETF
|
HNU
|
1 : 10
|
|
Horizons BetaPro NYMEX®
Crude Oil Bull Plus ETF
|
HOU
|
1 : 2
|
|
Horizons BetaPro
NASDAQ-100® Bear Plus ETF
|
HQD
|
1 : 2
|
|
Horizons BetaPro
S&P/TSX 60™ Bear Plus ETF
|
HXD
|
1 : 2
|
|
Horizons BetaPro COMEX®
Silver Bull Plus ETF
|
HZU
|
1 : 4
|
When a unit consolidation occurs, the net asset
value per unit is increased by the same ratio as the unit
consolidation so that the unit consolidation has no impact on the
value of the investor's total unit position. An investor's cost per
unit is also increased by the same ratio as the unit consolidation,
although their total cost remains unchanged.
No fractional units will be issued. Where the
consolidation results in a fractional unit, the number of
post-consolidation units will be rounded down to the nearest whole
unit, 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. Unitholders of the ETF
do not need to take any action. Unitholders will have their
brokerage accounts automatically updated to reflect the unit
consolidations.
Should market conditions change between the date
of this announcement and the effective date of the consolidations,
Horizons ETFs may elect to cancel or amend one or more of the
consolidations indicated in the table above. Horizons ETFs
will issue a subsequent press release advising of any such change
no later than November 18,
2015. If no such press release is issued, it should be
assumed that the consolidations will proceed as indicated.
Commissions, trailing commissions, management
fees and expenses all may be associated with an investment in the
ETFs. The ETFs are not guaranteed, their values change frequently
and past performance may not be repeated. Please read the
prospectus before investing.
About Horizons ETFs Management (Canada) Inc. (www.HorizonsETFs.com)
Horizons ETFs Management (Canada) Inc. and its affiliate AlphaPro
Management Inc. are innovative financial services companies
offering the Horizons ETFs family of exchange-traded funds. The
Horizons ETFs family includes a broadly diversified range of
investment tools with solutions for investors of all experience
levels to meet their investment objectives in a variety of market
conditions. Horizons ETFs has more than $5.1
billion of assets under management and with 70 ETFs listed
on the Toronto Stock Exchange, the Horizons ETFs family makes up
one of the largest families of ETFs in Canada. Horizons ETFs Management (Canada) Inc. and AlphaPro Management Inc. are
members of the Mirae Asset Financial Group.
SOURCE Horizons ETFs Management (Canada) Inc.