TORONTO, Jan. 26, 2016 /CNW/ - Horizons ETFs Management
(Canada) Inc. and its affiliate
AlphaPro Management Inc. (collectively "Horizons ETFs"), the
manager and trustee of the exchange traded funds (the
"ETFs") listed in the following table, have announced today
that they intend to consolidate the units of the ETFs, as indicated
below:
Unit Consolidations
After the close of trading on Friday,
February 12, 2016, on the Toronto Stock Exchange (the
"TSX"), the units of the ETFs will be consolidated on the
basis of the ratios (the "Consolidation Ratios") set out
below, and will begin trading on a post consolidated basis on
Tuesday, February 16, 2016, the
effective date of the consolidations:
|
ETF
|
Class of
Units
|
Ticker
|
Consolidation
Ratio
|
|
Horizons Enhanced
Income Energy ETF
|
Class E
|
HEE
|
1:5
|
|
Advisor
Class
|
HEE.A
|
1:5
|
|
Horizons Enhanced
Income Gold Producers ETF
|
Class E
|
HEP
|
1:5
|
|
Advisor
Class
|
HEP.A
|
1:5
|
|
Horizons Natural Gas
Yield ETF
|
Class E
|
HNY
|
1:5
|
|
Advisor
Class
|
HNY.A
|
1:5
|
When a unit consolidation occurs, the net asset value per unit
is increased by the same ratio as the unit consolidation so that
the unit consolidation has no impact on the value of the investor's
total unit position. An investor's cost per unit is also increased
by the same ratio as the unit consolidation, although their total
cost remains unchanged.
No fractional units will be issued. Where the consolidation
results in a fractional unit, the number of post-consolidation
units will be rounded down to the nearest whole unit, in the case
of a fractional interest that is less than 0.5, or rounded up to
the nearest whole number, in the case of a fractional interest that
is 0.5 or greater. Unitholders of the ETF do not need to take any
action. Unitholders will have their brokerage accounts
automatically updated to reflect the unit consolidations.
About Horizons ETFs Management (Canada) Inc. (www.HorizonsETFs.com)
Horizons ETFs Management (Canada) Inc. and its affiliate AlphaPro
Management Inc. are innovative financial services companies
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. Horizons ETFs has more than $5.2
billion of assets under management and with 71 ETFs listed
on the Toronto Stock Exchange, the Horizons ETFs family makes up
one of the largest families of ETFs in Canada. Horizons ETFs Management (Canada) Inc. and AlphaPro Management Inc. are
members of the Mirae Asset Financial Group.
Commissions, trailing commissions, management fees and
expenses all may be associated with an investment in exchange
traded products managed by AlphaPro Management Inc. and Horizons
ETFs Management (Canada) Inc. (the
"Horizons Exchange Traded Products"). The Horizons Exchange Traded
Products are not guaranteed, their values change frequently and
past performance may not be repeated. Please read the relevant
prospectus before investing.
Certain statements contained in this news release constitute
forward-looking information within the meaning of Canadian
securities laws. Forward-looking information may relate to a future
outlook and anticipated distributions, events or results and may
include statements regarding future financial performance. In some
cases, forward-looking information can be identified by terms such
as "may", "will", "should", "expect", "anticipate", "believe",
"intend" or other similar expressions concerning matters that are
not historical facts. Actual results may vary from such
forward-looking information. Horizons ETFs undertakes no obligation
to update publicly or otherwise revise any forward-looking
statement whether as a result of new information, future events or
other such factors which affect this information, except as
required by law.
SOURCE Horizons ETFs Management (Canada) Inc.