Closing of Recon Capital FTSE 100 ETF
February 26 2016 - 4:15PM
Business Wire
Recon Capital Series Trust Announces Closing of
the Recon Capital FTSE 100 ETF
Recon Capital Series Trust and its series Recon Capital FTSE 100
ETF (Nasdaq: UK) (the “Fund”) announce that the Fund will close to
new investors on March 8, 2016 and liquidate on or
about March 11, 2016.
The decision to close the Fund was made by the Recon Capital
Series Trust’s Board of Trustees after consultation with Recon
Capital Advisors, LLC, the investment adviser to the Fund. On
consideration of current market conditions, as well as prospects
for growth in the Fund’s assets, the Board determined that it was
in the best interests of the Fund and its shareholders to liquidate
the Fund’s shares, which are listed on NASDAQ. The last day of
trading for the Fund is scheduled to be Thursday, March 10,
2016.
From February 29, 2016 through March 11, 2016, the Fund
will be in the process of closing down and liquidating its
portfolio. The process will result in the Fund not tracking its
underlying index and its cash holdings increasing, which may be
inconsistent with the Fund’s investment objective and strategy.
From March 8, 2016 to March 10,
2016, shareholders may be able to sell their shares to
certain broker-dealers, but there can be no assurance that there
will be a market for the Fund.
Shareholders holding shares in the Fund as of the liquidation
date will receive a cash distribution equal to the net asset value
of their shares. Shareholders receiving this cash distribution will
not incur transaction fees in connection with this distribution or
the liquidation of their shares in the Fund. A portion of the
distribution may represent an ordinary income dividend or a capital
gain distribution.
For more information, please
visit www.reconfunds.com or call 844-RC-FUNDS. Recon
Capital Series Trust also offers the Recon Capital DAX Germany
ETF (Nasdaq: DAX) and the Recon Capital NASDAQ 100
Covered Call ETF (Nasdaq: QYLD).
About Recon Capital
Recon Capital Advisors, LLC, is an SEC Registered Investment
Adviser headquartered in Greenwich, CT that uses its investment
expertise and operational infrastructures to deliver market-driven,
value-added products that meet the evolving needs of global
investors. Please visit ReconCapitalPartners.com for more
information.
Shares are bought and sold at market price (not NAV), are not
individually redeemable, and owners of the Shares may acquire those
Shares from the Funds and tender those Shares for redemption to the
Funds in Creation Unit aggregations only, consisting of 50,000
Shares.
You should consider the Fund’s investment objectives, risks,
and charges and expenses carefully before investing. Contact Recon
Capital Advisors at 1-844-RC-FUNDS/1-844-723-8637 or visit
www.ReconFunds.com to obtain a prospectus or summary
prospectus which contains this and other information about the
Fund. The prospectus or summary prospectus should be read carefully
before investing.
Investors are subject to normal brokerage commissions when
trading shares. Brokerage commissions will reduce returns.
International investing involves risks, including risks
related to foreign currency, limited liquidity, less government
regulation and the possibility of substantial volatility due to
adverse political, economic or other developments. These risks
often are heightened for investments in emerging/developing markets
or in concentrations of single countries. The Fund is considered
non-diversified and may be subject to greater risks than a
diversified fund.
The Funds are distributed by Foreside Fund Services, LLC,
which is not affiliated with Recon Capital Advisors, LLC or any of
its affiliates.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160226006067/en/
Gregory FCA for Recon CapitalJen Diehl,
610-228-2124Recon@GregoryFCA.com
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