Horizons ETFs announces US Dollar ETF unit consolidation
Horizons Exchange Traded Funds Inc and its affiliate Horizons ETFs Management (Canada) Inc, the manager and trustee of the Horizons US Dollar ETF, listed on the Toronto Stock Exchange (TSX) under the symbols DLR and DLR.U, intends to consolidate the units of the ETF.
After the TSX has closed for trading on Friday, 4 January, 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 USD10.00 USD upon such consolidation. The units of the ETF will begin trading on a consolidated basis on Monday 7 January, 2013, the effective date of the consolidation.
Based on the closing NAV of 21 December, 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, 4 January, 2013.
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