TORONTO,
Jan. 13, 2015 /CNW/ - Horizons
ETFs Management (Canada) Inc.
("Horizons ETFs"), the manager and trustee of the
Horizons US Dollar Currency ETF (the "ETF"), which is
listed on the Toronto Stock Exchange ("TSX") under the
symbols DLR and DLR.U, has announced today that it
has set the consolidation ratio (the "Consolidation Ratio")
for the previously announced consolidation of units of the ETF, as
outlined below:
Unit Consolidation
After the TSX closed for trading today,
January 13, 2015, the units of the
ETF will be consolidated based on a Consolidation Ratio of
1:1.005951, i.e. for every 1.005951 pre-consolidated units
outstanding, one (1) consolidated unit will be issued, such that
the net asset value ("NAV") of the units of the ETF traded
on the TSX under the U.S. dollar (USD) ticker symbol DLR.U will now
equal $10.00 USD after the
consolidation. The units traded under the Canadian dollar
symbol DLR will undergo a consolidation at the same Consolidation
Ratio. The units of the ETF will begin trading on a consolidated
basis on Wednesday, January 14, 2015,
the effective date of the consolidation.
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.
Commissions, trailing commissions, management
fees and expenses all may be associated with an investment in the
ETF. The ETF is not guaranteed. Its value 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 is an innovative financial services
company 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. With more than $4.6
billion in assets under management as of December 31, 2014, and 72 ETFs listed on the TSX,
the Horizons ETFs family makes up one of the largest families of
ETFs in Canada. Horizons ETFs is a
member of the Mirae Asset Financial Group.
SOURCE Horizons ETFs Management (Canada) Inc.