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 Group.
SOURCE: Horizons Exchange Traded Funds Inc.
For further information:
Martin Fabregas, Investor Relations, (416) 601-2508 or 1-866-641-5739.