Harvest Portfolios Group announced May 29 that it will be terminating the Harvest Banks & Buildings Income ETF (HCBB:TSX) at the close of business on July 31.
July 29 is expected to be the last date on which a redemption may be placed with Harvest. All units still held by investors will be subject to a mandatory redemption as of the termination date, said Harvest.
“Unitholders of the Harvest Banks & Buildings Income ETF will be able to sell their units through the facilities of the stock exchange until the delisting date. Any remaining unitholders of the ETF as at the Termination Date will receive the net proceeds from the liquidation of the assets of the ETF, less all liabilities and all expenses incurred with the dissolution of the ETF, on a pro-rata basis,” stated the company.