Toronto-based Horizons ETFs Management (Canada) Inc. that it will be terminating Horizons Global Currency Opportunities ETF (TSX: HGC) and Horizons Active Intl Developed Markets Equity ETF (TSX: HADM) effective at the close of business on Feb. 14, 2019, the company announced Friday.
Effective immediately, no further direct subscriptions for units of the two ETFs will be accepted, Horizons says in a news release.
Horizons expects Feb. 8, 2019 to be the last date on which a redemption request may be placed, and the ETFs are expected to be de-listed from the Toronto Stock Exchange (TSX) , at the close of business on or about Feb. 11, 2019.
All units still held by investors will be subject to a mandatory redemption as of Feb. 14, 2019.
Unitholders will be able sell their units in the normal course through the facilities of the TSX, up until the delisting date.
Any remaining unitholders of the ETFs as at Feb. 14, 2019 will receive the net proceeds from the liquidation of the assets, less all liabilities and all expenses incurred in connection with the dissolution of the ETF, on a pro-rata basis.