TORONTO, Dec. 6, 2013 /CNW/ - Horizons ETFs Management (Canada) Inc. ("Horizons ETFs"), the manager and trustee of the Horizons US Dollar Currency 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, December 20, 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 December 23,
2013, the effective date of the consolidation.
Based on the closing NAV of December 5, 2013, the Consolidation Ratio
would be approximately 1:1.005, i.e. for every 1.005 pre-consolidated
units outstanding, one (1) consolidated unit would be issued. This
rate is provided only as an example of the Consolidation Ratio. The
final Consolidation Ratio will be determined at the close of business
on Friday, December 20, 2013.
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 $4.4
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.