FT Portfolios Canada Co. Announces Merger Exchange

TORONTO, Oct. 13, 2017 (GLOBE NEWSWIRE) -- FT Portfolios Canada Co. (the “Manager”), the manager of First Trust AlphaDEX™ Canadian Dividend ETF (“ FDY ”) (TSX: FDY ) (TSX:FDY.A) announced today the exchange ratios in connection with the merger (the “Merger”) of FDY and First Trust Canadian Capital Strength ETF (“ FST ”) (TSX: FST ) (TSX:FST.A).

Pursuant to the Merger, each holder of common units of FDY will automatically receive 0.608480 common units for each common unit of FDY held and each holder of advisor class units of FDY will automatically receive 0.722499 advisor class units for each advisor class unit of FDY held on the effective date of the Merger, being October 16, 2017.

On October 6, 2017 the Manager announced that a special distribution of $0.09 per common unit and $0.09 per advisor class unit of FDY payable to unitholders of record on October 10, 2017.

The Manager is also announcing today a final distribution payable today to unitholders of record of FDY at the close of business on October 13, 2017 in the amount of $.002341 per common unit and $0.002342 per advisor class unit consisting of net income not previously distributed by the fund. The final distribution will be automatically reinvested in additional units and consolidated such that the number of common units and advisor class units of FDY outstanding prior to and immediately following the final distribution will not change.

Units of FDY were delisted at the close of business on October 13, 2017. Unitholders of FDY are not required to take any action in order to become unitholders of FST.

Details of the Merger are outlined in a management information circular dated August 10, 2017 that is 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 FDY and FST 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.