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Sphere Announces Estimated Distributions in Connection with ETF Mergers

T.SHA, T.SHU

Canada NewsWire

TORONTO, Jan. 3, 2018 /CNW/ - Sphere Investment Management Inc. announces the following estimated distributions per unit for all unitholders of record on January 10, 2018 in connection with the proposed mergers of Sphere FTSE Asia Sustainable Yield Index ETF and Sphere FTSE US Sustainable Yield Index ETF into Sphere FTSE Canada Sustainable Yield Index ETF (SHC), as approved at a special meeting of unitholders of the funds on December 11, 2017.

Sphere ETF

SYMBOL

Estimated Special Cash
Distribution (per unit)

Sphere FTSE Asia Sustainable Yield Index ETF

SHA

1.74

Sphere FTSE US Sustainable Yield Index ETF

SHU

 

1.03

 

It is expected that all cash distributions will be paid to unitholders on or about January 12, 2018. It is anticipated that the mergers will become effective on or about January 12, 2018. In connection with the mergers, affected unitholders will receive a number of units of SHC determined based on an exchange ratio established as of the close of trading on the business day immediately preceding the effective date of the merger. The exchange ratios will be calculated based on the relative net asset values of the units of the applicable Sphere ETFs and the units of SHC.

The actual taxable amounts of all distributions, including the tax characteristics of the distributions, will be reported to brokers through CDS Clearing and Depository Services Inc.

Following the mergers, it is also anticipated that the manager and trustee of Sphere FTSE Canada Sustainable Yield Index ETF, Sphere FTSE Europe Sustainable Yield Index ETF and Sphere FTSE Emerging Markets Sustainable Yield Index ETF will change from Sphere Investment Management Inc. to Evolve Funds Group Inc. on or about January 15, 2018, all as further described in the information circular available at www.sedar.com and www.sphereetfs.com.

This communication is intended for informational purposes only. Commissions, trailing commission, management fees and expenses all may be associated with ETF investments. Please read the prospectus before investing. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and other decisions should be made, as appropriate, only with guidance from a qualified professional.

About Sphere Investments

Sphere Investment Management Inc. (SIMI) is the provider of an integrated wealth management platform based on ETFs. Founded in 2015, Sphere was established with a philosophy of providing Canadians with leading investment solutions based on factor-tilted methodologies that are: innovative, diversified, low cost, tax efficient, transparent and tailored to investor risk/return profiles. For more information, visit: sphereetfs.com

SOURCE Sphere Investments

View original content: http://www.newswire.ca/en/releases/archive/January2018/03/c1789.html

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