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VanEck announces reverse share split of three ETFs

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The Board of Trustees of VanEck Vectors ETF Trust has approved a 1-for-2 reverse split of the shares of the following three ETFs: VanEck Vectors J.P Morgan EM Local Currency Bond ETF (NYSE Arca: EMLC), VanEck Vectors AMT-Free Intermediate Municipal Index ETF (NYSE Arca: ITM), and the VanEck Vectors High-Yield Municipal Index ETF (NYSE Arca: HYD).

The effective date of the split will be at market open on 26 October 2018. The funds will continue to trade on the NYSE Arca under the same ticker symbols. The funds will be issued new CUSIP numbers, as listed above.
 
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.
 
Shares of the Funds will be offered on a split-adjusted basis on 26 October 2018. The total market value of the shares outstanding will not be affected as a result of this reverse split, except with respect to the redemption of fractional shares.
 
For shareholders who hold quantities of shares that are not an exact multiple of the reverse split ratio (for example: a multiple of 2 for a 1-for-2 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 Funds.

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