The board of Old Mutual Global Shares Trust has approved a five-for-one stock split of the shares of GlobalShares FTSE Emerging Markets Fund.
Each shareholder of record at the close of business on 10 February 2010 will receive four additional shares for every one outstanding share held.
The payable date for the additional shares will be 16 February 2010. Trading will begin on a split-adjusted basis on 17 February 2010.
The split is designed to make the fund more accessible to investors. Based on the fund’s closing share price on 28 January 2010, the split-adjusted price as of such date would have been USD19.73. It is intended that this will increase liquidity.
The fund seeks investment results that correspond (before fees and expenses) generally to the performance of the equity index called the FTSE Developed ex US Index.