DOWNERS GROVE, Ill.,
Oct. 9, 2017 /PRNewswire/
-- Invesco (NYSE: IVZ), a leading provider of exchange traded
funds (ETFs), announced today a reverse share split for the
PowerShares WilderHill Clean Energy Portfolio (PBW).
Effective at the close of markets on Friday, October 20, 2017, the Fund will affect a
1-for-5 reverse split of its issued and outstanding shares.
Monday, October 23, 2017 is the first
day of trading for the Fund on a split-adjusted basis. The
split does not change the total value of a shareholder's
investment. While the ticker symbol of the Fund will not
change, it will receive a new CUSIP number. The Fund's new
CUSIP is 73935X112.
Investors will receive one post-split share for every five
pre-split shares owned. As a result, post-split shares would
be priced five times higher than the pre-split shares.
The table below illustrates a hypothetical 1-for-5 reverse split
(actual net asset value, shares and market price may vary):
|
# of Shares
Owned
|
NAV
|
Value of
Shares
|
|
Pre-Split
|
500
|
$5.00
|
$2,500
|
|
Post-Split
|
100
|
$25.00
|
$2,500
|
**For Illustrative Purposes Only
This reverse split does not impact fund performance, however,
investors should be aware of the adjustment in shares outstanding
and per share NAV when comparing historical values or their monthly
brokerage statements.
For shareholders who own a number of shares that is not an exact
multiple of the reverse split ratio (in the case of this reverse
split, a multiple of five), the reverse split will result in the
creation of fractional shares. As fractional shares cannot
trade on an exchange, these shares will be redeemed for cash.
With respect to the redemption of these fractional shares, this may
cause a realization of gains or losses, which could be a taxable
event for shareholders.
About Invesco
Invesco is an independent investment
management firm dedicated to delivering an investment experience
that helps people get more out of life. NYSE: IVZ;
www.invesco.com.
About PowerShares by Invesco
PowerShares by Invesco is
leading the Intelligent ETF Revolution®
through its family of more than 140 domestic and international
PowerShares exchange-traded funds (ETFs). PowerShares ETFs seek to
outperform traditional benchmark indexes while providing advisors
and investors access to an innovative array of focused investment
opportunities. PowerShares has US franchise assets exceeding
$158 billion as of June 30, 2017. For more information, please visit
us at powershares.com or follow us on Twitter @PowerShares.
Important Risk Information
Shares are not FDIC insured, may lose value and have
no bank guarantee.
There are risks involved with investing in ETFs, including
possible loss of money. Shares are not actively managed and are
subject to risks similar to those of stocks, including those
regarding short selling and margin maintenance requirements.
Ordinary brokerage commissions apply. The Fund is subject to
certain other risks. Please see the current prospectus for more
information regarding the risk associated with an investment in the
Fund.
Investments focused in a particular industry, such as clean
energy and semiconductors, are subject to greater risk, and are
more greatly impacted by market volatility, than more diversified
investments.
Stocks of small and mid-sized companies tend to be more
vulnerable to adverse developments, may be more volatile, and may
be illiquid or restricted as to resale.
Shares are not individually redeemable and owners of the Shares
may acquire those Shares from the Fund and tender those Shares for
redemption to the Fund in Creation Unit aggregations only,
typically consisting of 10,000, 50,000, 75,000, 100,000 or
200,000 Shares.
Before investing, investors should carefully read the
prospectus/summary prospectus and carefully consider the investment
objectives, risks, charges and expenses. For this and more complete
information about the Fund call 800 983 0903 or visit
powershares.com for the prospectus/summary prospectus.
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SOURCE Invesco