Global X ETFs Announces Reverse Share Splits for 5 ETFs

New York, New York, UNITED STATES


NEW YORK, April 13, 2020 (GLOBE NEWSWIRE) -- Global X ETFs, the New York-based provider of exchange traded funds, today announced that its Board of Trustees has approved reverse share splits for five of its ETFs. The total market value of the shares outstanding will not be affected as a result of this split, except with respect to the redemption of fractional shares, as outlined below.

The firm will execute the reverse split of the shares effective at the open of the market on April 28, 2020. A summary of the ETFs undergoing a reverse share split is as follows.

Fund NameTickerCUSIPRatio
Global X MLP ETFMLPA37950E4731:6
Global X MSCI Pakistan ETFPAK37950E6891:4
Global X MSCI Colombia ETFGXG37950E2001:4
Global X MSCI Greece ETFGREK37950E3661:3
Global X MLP & Energy Infrastructure ETFMLPX37950E2261:3

Please note the CUSIP changes, effective April 28th, 2020:

Fund NameOld CUSIPNew CUSIP
Global X MLP ETF37950E47337954Y343
Global X MSCI Pakistan ETF37950E68937954Y335
Global X MSCI Colombia ETF37950E20037954Y327
Global X MSCI Greece ETF37950E36637954Y319
Global X MLP & Energy Infrastructure ETF37950E22637954Y293

The reverse split will raise the price of the shares for the fund and decrease the number of shares outstanding, without affecting the total value of the shares outstanding.

Hypothetical example of a 1-for-4 reverse split:

PeriodNumber of Shares
Owned
Hypothetical Market
Price/Share ($U.S.)
Total Value ($U.S.)
Pre- split400$100$4,000
Post- split100$400$4,000

Redemption of Fractional Shares and Tax Consequences for Each Reverse Split

As a result of the reverse splits, a shareholder of the ETF could potentially hold a fractional share. However, fractional shares cannot trade on NYSE Arca. Thus, each ETF will redeem for cash a shareholders' fractional shares at the Fund's split-adjusted NAV. Such redemptions could cause a shareholder to realize a gain or loss. Otherwise, the reverse splits will not result in a taxable transaction for holders of ETF shares. Global X Management Company LLC does not impose a transaction fee on shareholders for such redemptions.

Brokerage Charges

Some brokerage charges may apply as a result of the reverse split. These charges are made directly by the broker and are not charges from Global X Management Company LLC.

ABOUT GLOBAL X

Global X was founded in 2008 with the mission of listening to and empowering clients to invest wisely in unexplored and intelligent solutions. Our product lineup features more than 70 ETF strategies, and is supported by in-depth, openly available Research & Insights, along with professionally constructed ETF Model Portfolios and Practice Management Tools designed to support financial advisors. While we are distinguished for our Thematic Growth, Income and International Access ETFs, we also offer Core, Commodity, and Alpha funds to suit a wide range of investment objectives. Global X is a member of Mirae Asset Global Investments Group, a Seoul-based global enterprise which offers asset management expertise worldwide. Explore our ETFs and more at www.globalxetfs.com.

Media Contact:

Frank Taylor / Stephanie Dressler
Dukas Linden Public Relations
frank@dlpr.com / stephanie@dlpr.com
(646) 808-3647 / (949) 269-2535

Disclosures:

Investing involves risk, including the possible loss of principal. Investments in securities of MLPs involve risk that differ from investments in common stock including risks related to limited control and limited rights to vote on matters affecting the MLP. The funds are non-diversified.

International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, or from economic or political instability in other nations. Securities focusing on a single country maybe subject to higher volatility. Investments in small and mid-capitalization companies pose greater risks than large companies. Certain economies in the Middle East depend to a significant degree upon exports of primary commodities such as oil.

Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Global X NAVs are calculated using prices as of 4:00 PM Eastern Time. The closing price is the Mid-Point between the Bid and Ask price as of the close of exchange. Closing price returns do not represent the returns you would receive if you traded shares at other times.

Carefully consider the Fund’s investment objectives, risks, and charges and expenses before investing. This and other information can be found in the Fund’s summary or full prospectuses, which may be obtained by calling 1-888-493-8631 or by visiting globalxetfs.com. Please read the prospectus carefully before investing.

Global X Management Company LLC serves as an advisor to Global X Funds. The Funds are distributed by SEI Investments Distribution Co. (SIDCO), which is not affiliated with Global X Management Company LLC or Mirae Asset Global Investments.