TORONTO, Nov. 10, 2016 /CNW/ - Horizons ETFs
Management (Canada) Inc.
("Horizons ETFs"), the manager and trustee of the Horizons
BetaPro S&P 500 VIX Short-Term Futures™ Bull Plus
ETF (the "ETF"), has announced today that it intends to
consolidate the units of the ETF as indicated in the table
below.
Unit Consolidation
After the close of trading on Wednesday,
November 23, 2016, on the Toronto Stock Exchange (the
"TSX"), the units of the ETF will be consolidated on the
basis of the ratio (the "Consolidation Ratio") set out
below, and will begin trading on a post-consolidated basis on
Thursday, November 24, 2016, the
effective date of the consolidation:
ETF
|
Ticker
|
Consolidation
Ratio
|
Horizons BetaPro
S&P 500 VIX Short-Term Futures™ Bull Plus
ETF
|
HVU
|
1 : 10
|
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 consolidation.
Commissions, trailing commissions, management fees and
expenses all may be associated with an investment in the ETF. The
ETF is not guaranteed, its value changes 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 $6.7
billion of assets under management and with 75 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 Global Investments Group.
SOURCE Horizons ETFs Management (Canada) Inc.