BetaPro Management Further Increases Stake in Australian ETFs Company

TORONTO, Sept. 29, 2011 /CNW/ - Jovian Capital Corporation ("Jovian") (TSX:JOV) and its subsidiary BetaPro Management Inc. ("BetaPro")*, the manager of the Horizons BetaPro exchange traded funds ("Horizons ETFs"), are pleased to announce that, further to the announcement of May 19, 2011, BetaPro has exercised its pre-emptive rights to subscribe for one Class A share of BetaShares Holdings Pty Ltd. ("BetaShares") for a subscription price of $2,000,000 (Australian) (the "Class A Share").  BetaShares is a private Australian holding company whose subsidiary, BetaShares Capital Limited, offers exchange traded funds ("ETFs") on the Australian Securities Exchange.

The Class A Share is convertible into ordinary shares in the capital of BetaShares on December 31, 2011, at a conversion ratio that adjusts based on the completion of certain milestones by BetaShares by that date, and will result in BetaPro increasing its ownership of BetaShares total equity by between 5.1% and 6.1%.  As at August 31, 2011, BetaPro owned approximately 40% of the ordinary shares outstanding.  As part of the subscription, BetaPro has entered into an option agreement with BetaShares entitling BetaPro (the "Option") to purchase additional shares of BetaShares sufficient to bring BetaPro's equity holdings of BetaShares to 50%.  The exercise price of the Option adjusts based on the conversion price implicit in the conversion price of the Class A Share.

Adam Felesky, C.E.O. of BetaPro said, "The continued growth and success of the BetaShares ETFs on the Australian Exchange is very encouraging.  Increasing our investment in BetaShares is one more positive step for Horizons ETFs in growing its global ETF presence."

*As announced on July 15, 2011, Jovian has entered into a definitive agreement to sell its exchange traded fund business to Mirae Asset Global Investments Co., Ltd. ("Mirae Asset"), conditional on the completion of a number of obligations by both parties up to and including the closing date. Closing is anticipated to occur by mid-November, and is subject to several conditions including, but not limited to, regulatory and contractual consents and approvals, both domestic and foreign.  In anticipation of closing the transaction, an affiliate of Mirae Asset has provided $2,100,000 CAD in subordinated debt to BetaPro to fund the subscription price of the Class A Share.

About Jovian Capital Corporation (

Jovian acquires, creates and grows financial services companies specializing in three primary market segments: wealth management, traditional asset managers, and exchange traded fund asset managers. The Jovian group of companies (AlphaPro Management Inc., BetaPro Management Inc., Hahn Investment Stewards & Company Inc., Horizons Exchange Traded Funds Inc., JovFunds Management Inc., JovInvestment Management Inc., Leon Frazer & Associates Inc., MGI Financial Inc., MGI Securities Inc., MGI Securities (USA) Inc. and T.E. Wealth) manages approximately $13.5 billion of client assets ($8.0 billion in assets under management and $5.5 billion in assets under administration).  Additional information is available at and

SOURCE Jovian Capital Corporation

For further information:

Don Sangster, Investor Relations, Jovian Capital Corporation, (416) 933-5744; or
Philip Armstrong, Chief Executive Officer, Jovian Capital Corporation, (416) 933-5752.

Profil de l'entreprise

Jovian Capital Corporation

Renseignements sur cet organisme


Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .


Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.


Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.