Horizons to consolidate units of US Dollar Currency ETF
Horizons ETFs Management (Canada), the manager and trustee of the Horizons US Dollar Currency ETF listed on the Toronto Stock Exchange, intends to consolidate the units of the ETF.
After the TSX has closed for trading on 20 December, the units of the ETF will be consolidated on the basis of a 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.
The units of the ETF will begin trading on a consolidated basis on 23 December, the effective date of the consolidation.
Based on the closing NAV of 5 December, the consolidation ratio would be approximately 1:1.005, i.e. for every 1.005 pre-consolidated units outstanding, one consolidated unit would be issued. The final consolidation ratio will be determined at the close of business on 20 December 2013.
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