NEW YORK--(BUSINESS WIRE)--As per the Listing Qualifications Staff of the Nasdaq Stock Market LLC, shares of the BullMark LatAm Select Leaders ETF - BMLA (the "Fund") will be delisted from Nasdaq due to the fund's non-compliance with the minimum shareholder requirement. Details of the ETF are as follows.
|BullMark LatAm Select Leaders ETF||BMLA||44053G306|
On August 31, 2017, the Fund received written notification from the Listing Qualifications Staff of the Nasdaq Stock Market LLC indicating that, based upon the Fund’s non-compliance with the minimum number of shareholder requirement for continued listing on Nasdaq, as set forth in Nasdaq Listing Rule 5705 (b)(9)(B)(i)(a), (the “Rule”), the staff of Nasdaq has determined to delist the Fund’s shares from Nasdaq unless the Fund timely requests a hearing before the Nasdaq Hearings Panel. The Nasdaq staff noted in the letter that the Fund reported that its number of shareholders was 39 as of August, 18, 2017, which was below the Rule’s 50 shareholder requirement.
BullMark Financial Group has elected to terminate the fund and de-list from Nasdaq as soon as reasonably possible and the Fund will be removed from the Horizons ETF Trust (the "Trust"). Details regarding the termination and liquidation of the Fund will be communicated shortly.
Horizons ETFs Management (US), LLC is the Investment Adviser of the Fund. The Fund is distributed by Foreside Fund Services, LLC, which is not affiliated with Horizons ETFs Management (US), LLC or any of its affiliates.