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Horizons ETFs announces HOU unit consolidation

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Horizons ETFs Management is to consolidate the units of the Horizons BetaPro NYMEX Crude Oil Bull Plus ETF (HOU) by a ration of 1:4.

The consolidation will take place after the close of trading on Thursday, 15 January, 2015 on the Toronto Stock Exchange (TSX). The units of the ETF will begin trading on a post consolidated basis on Friday, 16 January, 2015, the effective date of the consolidation.

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.

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