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TORONTO, June 30, 2016 /CNW/ - First Asset Investment
Management Inc. ("First Asset"), the Manager and Trustee of
First Asset Global Financial Sector ETF (TSX: FSF) (the
"First Asset ETF") announced today that it intends to
consolidate the units (the "Units") of the First Asset ETF
as described below (the "Consolidation").
After the close of trading on the Toronto Stock Exchange (the
"TSX") on Friday, July 15,
2016, the Units of the First Asset ETF will be consolidated
on the basis of one post-Consolidation Unit for every two
pre-Consolidation Units (the "Consolidation Ratio"), and
such Units will begin trading on a post-Consolidated basis on
Monday, July 18, 2016, the effective
date of the Consolidation.
Following the Consolidation, the net asset value per Unit will
be increased by the same ratio as the Consolidation Ratio, such
that the Consolidation will have no impact on the value of an
investor's aggregate holding of Units. Similarly, an
investor's cost per Unit is also increased by the same ratio as the
Consolidation Ratio, however investors will hold fewer Units, so
the aggregate cost of an investor's Units will remain the same.
No fractional Units will be issued in the Consolidation.
Where the Consolidation would result in a fractional Unit, the
number of post-Consolidation Units will be rounded down to the
nearest whole post-Consolidation Unit in the case of a fractional
interest that is less than 0.5, or rounded up to the nearest whole
post-Consolidation Unit, in the case of a fractional interest that
is 0.5 or greater.
Unitholders are not required to take any action in connection
with the Consolidation.
First Asset – Smart SolutionsTM
First
Asset, a CI Financial Company, is a Canadian investment firm
delivering a comprehensive suite of smart ETF solutions. Rooted in
strong fundamentals, First Asset's smart solutions strive to
deliver better risk-adjusted returns than the broad market, while
helping investors achieve their personal financial goals.
Please read the prospectus before investing. Important
information about the First Asset ETF is contained in its
prospectus. Individuals should seek the advice of professionals, as
appropriate, prior to investing. ETFs are not guaranteed, their
values change frequently and past performance may not be repeated.
Commissions, trailing commissions, management fees and expenses all
may be associated with an investment in ETFs. First
Asset ETFs are managed by First Asset Investment Management Inc., a
subsidiary of First Asset Capital Corp. (FA Capital). ™First Asset
and its logo are trademarks of FA Capital, a wholly owned
subsidiary of CI Financial Corp. which is listed on the Toronto
Stock Exchange under the symbol "CIX". ®CI FINANCIAL is a
registered trademark of CI Investment Inc., used under license.
SOURCE First Asset