PowerShares FTSE RAFI US Fundamental (CAD Hedged) Index ETF To Trade On Toronto Stock Exchange
PowerShares FTSE RAFI US Fundamental (CAD Hedged) Index ETF (the "PowerShares ETF") - An application has been granted for the original listing in the Industrial category of 250,000 redeemable, transferable units (the "Units"), all of which will be issued and outstanding, upon the completion of an initial public offering.
Listing of the Units will become effective at 5:01 p.m. on Wednesday, January 25, 2012 in anticipation of the offering closing on Thursday, January 26, 2012. The Units will be posted for trading at the opening on January 26, 2012.
The PowerShares ETF is authorized to issue an unlimited number of Units each of which represents an equal, undivided interest in the assets of the PowerShares ETF. Units of the PowerShares ETF are being issued and sold on a continuous basis and there is no maximum number that may be issued.
The PowerShares ETF is an exchange-traded mutual fund established as a trust under the laws of the Province of Ontario which seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the FTSE RAFI® US 1000 (Canadian Hedged) Index.
Registration of interests in, and transfers of, the Units will be made only through the book-entry only system of CDS Clearing and Depository Services Inc. ("CDS"). Units must be purchased, transferred and surrendered for exchange or redemption only through a CDS Participant. Beneficial owners will not have the right to receive physical certificates evidencing their ownership.
Additional information on the Units may be found in the amended and restated prospectus dated January 13, 2012, amending and restating the prospectus dated January 9, 2012 (the "Prospectus") which is available at www.SEDAR.com. Capitalized terms not otherwise defined below are as defined in the Prospectus.
Stock Symbol: PXU CUSIP: 73938K 10 9 Currency: CDN$
Market Maker: National Bank Financial Inc.
Other Markets: None
Head Office: 5140 Yonge Street
Email Address: email@example.com
Website Address: www.powershares.ca
Head Telephone Number: (416) 590-9855
Fax Number: (416) 590-9868
Investor Relations: Aysha Mawani
Manager: Invesco Canada Ltd.
& Registrar: CIBC Mellon Trust Company at its principal office in Toronto.
Chief Financial Officer: David C. Warren
Secretary: Eric J. Adelson
Fiscal Year End: December 31
Incorporation: The PowerShares ETF was established under the laws of the Province of Ontario pursuant to a Declaration of Trust dated as of June 6, 2011, as amended and restated as of January 4, 2012.
Nature of Business: The PowerShares ETF seeks to replicate, to the extent reasonably possible and before fees and expenses, the FTSE RAFI® US 1000 Index (Canadian Hedged). The FTSE RAFI US 1000 Index (Canadian Hedged) is designed to replicate the returns of the FTSE RAFI®US 1000 Index (the "Underlying Index"), with all or substantially all of the direct U.S. dollar exposure of theUnderlying Index hedged back to the Canadian dollar. The Underlying Index is comprised of the 1,000 U.S. companies with the largest fundamental value that are included in the FTSE US All Cap Index.
Distributions: Income distributions, if any, will be paid in cash on a quarterly basis. Cash distributions may include a return of capital. Capital gains distributions, if any, will be paid annually and, net of taxes required to be withheld, will be automatically reinvested in additional Units. Immediately following such reinvestment, the number of Units outstanding will be consolidated so that the NAV per Unit following the capital gains distribution and reinvestment is the same as it would have been if the distribution had not been paid.
Management Fee: The PowerShares ETF pays a management fee, plus applicable taxes, to the Manager based on the annual rate of 0.60% of NAV of the PowerShares ETF. The Manager has agreed to waive 0.05% of the management fee until at least August, 31, 2012. This management fee is calculated and accrued daily and is paid weekly, except at month-end when there may be an extra payment.
Initial Issuance of Units: Pursuant to the Prospectus, 250,000 Units of the PowerShares ETF will be issued at a subscription price of $20 per Unit. Units of the PowerShares ETF are being issued and sold on a continuous distribution basis.