The Board of Trustees of VanEck Vectors ETF Trust has approved a 1-for-5 reverse split of the shares of VanEck Vectors High Income MLP ETF.
The effective date of the split will be at market open on 29 June, 2016. The Fund will continue to trade on the NYSE Arca under the ticker symbol “YMLP,” but the current CUSIP number (92189F551) will be discontinued and the Fund’s new CUSIP number (92189F288) will be effective 29 June, 2016.
The Depository Trust Company (DTC), the registered owner of all Fund shares, has been notified of the reverse split and has been instructed to adjust each shareholder’s investment accordingly.
For shareholders who hold quantities of shares that are not an exact multiple of the reverse split ratio (for example: a multiple of 5 for a 1-for-5 split), the reverse splits will result in the creation of fractional shares. Post-split fractional shares will be redeemed for cash and sent to the broker of record. This redemption may cause some shareholders to realise a gain or loss, which could be a taxable event for those shareholders. Otherwise, the reverse split will not result in a taxable transaction for shareholders of the Fund.
