TORONTO, Dec. 24, 2012 /CNW/ - Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and its affiliate Horizons ETFs Management (Canada) Inc., the manager
and trustee of the Horizons U.S. Dollar ETF (the "ETF"), listed on the Toronto Stock Exchange ("TSX") under the symbols DLR and DLR.U, has announced today that it intends to consolidate the units of the
ETF, as outlined below:
After the TSX has closed for trading on Friday, January 4, 2013, the
units of the ETF will be consolidated on the basis of a ratio (the "Consolidation Ratio") yet to be determined, such that the net asset value ("NAV") of the units of the ETF traded on the TSX under the ticker symbol
DLR.U will equal $10.00 USD upon such consolidation. The units of the
ETF will begin trading on a consolidated basis on Monday January 7,
2013, the effective date of the consolidation.
Based on the closing NAV of December 21, 2012, the Consolidation Ratio
would be approximately 1:1.009, i.e. for every 1.009 pre-consolidation
units outstanding, one (1) consolidated unit would be issued. This
sample rate is provided only as an approximation of the Consolidation
Ratio. The final Consolidation Ratio will be determined at the close of
business on Friday, January 4, 2013.
For further information visit www.HorizonsETFs.com
About Horizons Exchange Traded Funds Inc. (www.horizonsetfs.com)
Horizons ETFs is an innovative financial services company offering the
Horizons ETFs family of ETFs. 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 $3.5 billion in
assets under management and 79 ETFs listed on the Toronto Stock
Exchange, the Horizons ETFs family makes up one of the largest families
of ETFs in Canada. Horizons ETFs is a subsidiary of Horizons ETFs
Management (Canada) Inc. and a member of the Mirae Asset Financial
SOURCE: Horizons Exchange Traded Funds Inc.
For further information:
Martin Fabregas, Investor Relations, (416) 601-2508 or 1-866-641-5739.