Last updated: 11:22 / Wednesday, 26 June 2013
Effective on July 1, 2013

Market Vectors Announces Reverse Share Split of Seven ETFs

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Market Vectors Announces Reverse Share Split of Seven ETFs

Market Vectors ETF Trust announced that its Board of Trustees has approved reverse share splits of seven ETFs.

The effective date of the split will be at market open on July 1, 2013. The Funds will continue to trade on the NYSE Arca under their current ticker symbols, but their current CUSIP numbers will be discontinued and the Funds’ new CUSIP numbers will be as follows, effective July 1, 2013.

The Depository Trust Company (“DTC”), the registered owner of all Fund shares, has been notified of the reverse share splits and has been instructed to adjust each shareholder’s investment accordingly.

Shares of the Fund will be offered on a split-adjusted basis on July 1, 2013. The total market value of the shares outstanding will not be affected as a result of this reverse share split, except with respect to the redemption of fractional shares, as discussed below.

Redemption of Fractional Shares and Tax Consequences for Each Reverse Split

For shareholders who hold quantities of shares that are not exact multiples of the reverse share split ratios (for example: a multiple of 3 for a 1-for-3 split), the reverse share splits will result in the creation of fractional shares. Post-split fractional shares will be redeemed for cash and sent to the broker of record. This redemption may cause some shareholders to realize gains or losses, which could be a taxable event for those shareholders. Otherwise, the reverse split will not result in a taxable transaction for holders of the Fund.

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