TORONTO, Feb. 15, 2019 /CNW/ - Horizons ETFs
Management (Canada) Inc.
("Horizons ETFs"), the manager and trustee of the BetaPro
Natural Gas 2x Daily Bull ETF and the BetaPro S&P
500® -2x Daily Bear ETF (together the "ETFs"),
has announced today that it intends to consolidate the units of the
ETFs as indicated in the table below.
Unit Consolidation
After the close of trading on the Toronto Stock Exchange (the
"TSX") on Friday, March 1,
2019, the units of the ETFs 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
Monday, March 4, 2019, the effective
date of the consolidations:
|
ETF
|
Ticker
|
Consolidation
Ratio
|
|
BetaPro Natural Gas 2x
Daily Bull ETF
|
HNU
|
1:5
|
|
BetaPro S&P
500® -2x Daily Bear ETF
|
HSD
|
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 of their total unit position 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.
Horizons ETFs reserves the right to cancel either of these
corporate actions if we deem it appropriate to do so, before the
effective date.
Unitholder Information
Unitholders of the applicable ETF(s) do not need to take any
action to effect this transaction. Unitholders will have their
brokerage accounts automatically updated to reflect the unit
consolidation. A unitholder's broker may take several days to
reflect this transaction in the unitholder's account (the
"Settlement Period"). However, the unitholder is still able
to trade the units of the applicable ETF(s) during this time. If
investors wish to trade the post-consolidation units, Horizons ETFs
recommends they contact their broker by phone during the Settlement
Period.
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 suite 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 currently has more than $10
billion of assets under management and 85 ETFs listed on
major Canadian stock exchanges. Horizons ETFs Management
(Canada) Inc. is a member of the
Mirae Asset Global Investments Group.
Horizons ETFs is a member of Mirae Asset Global Investments.
Commissions, management fees and expenses all may be associated
with an investment in exchange traded products managed by Horizons
ETFs Management (Canada) Inc. (the
"Horizons Exchange Traded Products"). The Horizons Exchange Traded
Products are not guaranteed, their values change frequently and
past performance may not be repeated. Please read the relevant
prospectus before investing.
"Standard & Poor's®" and "S&P®"
are registered trademarks of Standard & Poor's Financial
Services LLC ("S&P") and "TSX®" is a registered
trademark of the TSX Inc. ("TSX"). These marks have been licensed
for use by Horizons ETFs Management (Canada) Inc. The ETF is not sponsored,
endorsed, sold, or promoted by the S&P, TSX or their affiliated
companies and none of these parties make any representation,
warranty or condition regarding the advisability of buying, selling
or holding units/shares of the ETF.
SOURCE Horizons ETFs Management (Canada) Inc.