Horizons ETFs Sets Unit Consolidation Ratio For DLR.U
TORONTO, Dec. 20, 2013 /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:
After the TSX closed for trading today, December 20, 2013, the units of the ETF will be consolidated based on a Consolidation Ratio of 1:1.005379, i.e. for every 1.005379 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 ticker symbol DLR.U will now equal $10.00 USD after the consolidation. The units of the ETF will begin trading on a consolidated basis on Monday, December 23, 2013, the effective date of the consolidation. No fractional units will be issued in connection with the consolidation and, in the event that a unitholder would otherwise be entitled to receive a fractional unit upon the unit consolidation, such fraction will be rounded down to the nearest whole number.
For further information visit www.HorizonsETFs.com.
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 approximately $4.2 billion in assets under management and 73 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.For further information:
Martin Fabregas, Investor Relations, MFabregas@HorizonsETFs.com,
(416) 601-2508 or 1-866-641-5739.