FT Portfolios Canada Co. Announces Unitholder Approval of Merger Proposal
TORONTO, Sept. 20, 2017 (GLOBE NEWSWIRE) -- FT Portfolios Canada Co. (the “Manager”), the manager of First Trust AlphaDEX™ Canadian Dividend ETF (“FDY”) (TSX:FDY) (TSX:FDY.A) and First Trust Canadian Capital Strength ETF (“FST”), is pleased to announce that at a special meeting held today unitholders of FDY approved a proposal that will result in the merger of FDY with FST, another exchange-traded fund managed by the Manager, in order to combine FDY and FST into one Canadian equity exchange-traded fund with FST being the continuing fund (the “Proposal”). It is expected that the merger will become effective on or about October 13, 2017 (the “Effective Date”).
Unitholders of FDY will receive a number of common units and/or advisor class units of FST, as the case may be, determined based on an exchange ratio established as of the close of trading on the business day immediately preceding the Effective Date. The exchange ratios will be calculated based on the relative net asset values of the common units and advisor class units of FDY and the common units and advisor class units of FST.
Details of the merger are outlined in an information circular that has been sent to unitholders of FDY in connection with the special meeting. Copies of the information circular are available on www.sedar.com and www.firsttrust.ca.
About First Trust
The First Trust companies are a well-respected global enterprise with a history in the U.S. market since 1991 and in Canada since 1996. As of June 30, 2017, First Trust Advisors L.P., the portfolio advisor for FDY, has approximately US$ 45.6 billion in exchange-traded fund assets under management and more than US$ 107.6 billion total assets under supervision or management. First Trust is the enterprise name used for the various businesses conducted in Europe, Mexico, Canada and the U.S.
Further information about FT Portfolios Canada’s ETFs can be found at www.firsttrust.ca.
For further information: Media Contact: Susan Johnson, FT Portfolios Canada Co., 40 King Street West, Suite 5102, Scotia Plaza, Box 312, Toronto, ON M5H 3Y2, Email: susanjohnson@firsttrust.ca, (416) 865-8054.