Global X Funds To Liquidate 8 ETFs
NEW YORK, Dec. 19, 2011 /PRNewswire/ -- Global X Funds, the New York-based exchange-traded funds (ETFs), today announced the scheduled liquidation of the following Global X Funds ETFs:
- Global X Russell Emerging Markets Growth ETF (EMGX)
- Global X Russell Emerging Markets Value ETF (EMVX)
- Global X Mexico Small-Cap ETF (MEXS)
- Global X Oil Equities ETF (XOIL)
- Global X Farming ETF (BARN)
- Global X Fishing Industry ETF (FISN)
- Global X Food ETF (EATX)
- Global X Waste Management ETF (WSTE)
The Funds, which are listed for trading on NYSE Arca, Inc. ("NYSE Arca"), will close to new investors and cease trading on the NYSE Arca at the end of the trading day on February 16, 2012 and will liquidate on February 27, 2012. The Funds represent less than 2% of the assets of the Global X Funds.
The Board of Trustees of Global X Funds unanimously determined that it was in the best interests of the Funds and their shareholders to liquidate the Funds.
Thursday, February 16, 2012, is scheduled to be the last day of trading for the shares of the Funds on NYSE Arca. Beginning February 17, 2012 through February 27, 2012, the Funds will be in the process of closing down and liquidating their portfolios. During this time, the Funds will not be pursuing their stated objectives and strategies and tracking their underlying indexes and their cash holdings will increase.From February 17, 2012 through February 27, 2012, shareholders may be able to sell their shares to certain broker-dealers, but there can be no assurance that there will be a market for the Funds during this period. Any person holding shares in the Funds as of the liquidation date of February 27, 2012 will receive a cash distribution equal to the net asset value of their shares as of that date. Shareholders receiving this cash distribution will not incur transaction fees in connection with this distribution or the liquidation of their shares in the Funds. However, a portion of the distribution may represent an ordinary income dividend or a capital gain distribution. For additional information about the liquidation, shareholders of the Funds may call 1-888-GX-FUND-1 (1.888.493.8631).
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