New York, Feb. 9, 2012 (GLOBE NEWSWIRE) -- Guggenheim Investments, the investment management division of Guggenheim Partners, LLC, announced today that it will execute a 1-for-10 reverse split of the shares of Guggenheim Solar ETF (NYSE Arca: TAN) (the "Fund") for shareholders of record after the close of the markets on February 14, 2012. The effective date of the split will be at market open on February 15, 2012. The Fund will continue to trade on the NYSE Arca under the ticker symbol "TAN", but the current CUSIP number, 18383M621, will be discontinued and the Fund’s new CUSIP number will be 18383Q739 effective February 15, 2012.
Shareholders of record on February 14, 2012 will participate in the reverse split. The Depository Trust Company ("DTC"), the registered owner of all Fund shares, has been notified of the reverse 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 February 15, 2012. The total market value of the shares outstanding will not be affected as a result of this reverse split, except with respect to the redemption of fractional shares, as discussed below.
1-for-10 Reverse Split
| Period | # of Shares Owned | Hypothetical Market Price | Total Share Value |
| Pre-Split | 100 | $3 | $300 |
| Post-Split | 10 | $30 | $300 |
Redemption of Fractional Shares and Tax Consequences for each Reverse Split
As a result of the reverse split, a shareholder of the Fund could potentially hold a fractional share. However, fractional shares cannot trade on NYSE Arca. Thus, the firms at which shareholders hold shares of the Fund will sell for cash a shareholder’s fractional shares in the open market on February 15, 2012 or as soon as practicable thereafter. Such share sales could cause a shareholder to realize a gain or loss. Otherwise, the reverse split will not result in a taxable transaction for holders of the Fund.
For information on Guggenheim Solar ETF and the full suite of Guggenheim ETF offerings, please visit www.guggenheimfunds.com/etf or call 800-345-7999 to speak to a representative.
NOTE TO EDITORS
About Guggenheim Investments
Guggenheim Investments, the investment management division of Guggenheim Partners, LLC ("Guggenheim"), has a long, distinguished history of serving institutional investors, ultra-high-net-worth individuals, family offices and financial intermediaries. Guggenheim Investments offer clients a wide range of differentiated capabilities built on a proven commitment to investment excellence. Guggenheim Investments has offices in Chicago, New York City and Santa Monica, along with a global network of offices throughout the United States, Europe, and Asia.
Guggenheim Investments is comprised of several investments management entities within Guggenheim, which includes Guggenheim Funds Distributors, Inc. and Guggenheim Funds Investment Advisors, LLC. Guggenheim Funds Investment Advisors, LLC serves as the Fund’s investment adviser.
About Guggenheim Partners
Guggenheim Partners is a privately held global financial services firm with more than $125 billion in assets under management. The firm provides asset management, investment banking and capital markets services, insurance, institutional finance and investment advisory solutions to institutions, governments and agencies, corporations, investment advisors, family offices and individuals. Guggenheim Partners is headquartered in New York and Chicago and serves clients throughout North America, Europe and Asia from more than 25 offices in 10 countries. For more information, please visit www.guggenheimpartners.com
There can be no assurance that any fund will achieve its investment objectives. There are risks associated with investing, including the entire loss of principal invested. The Fund is subject toEquity Risk, Solar Energy Industry Risk, Foreign Investment Risk, Small and Medium-Sized Company Risk, Micro-cap Company Risk, Concentration Risk, Non-Correlation Risk, Replication Management Risk, Issuer-Specific Changes, and Non-Diversified Fund Risk. Please refer to the individual ETF prospectus for a more detailed discussion of the Fund-specific risks and considerations.
Consider the investment objectives, risks, charges and ongoing expenses of any ETF carefully before investing. The prospectus or summary prospectus, if available, contains this and other relevant information. Please read the prospectus carefully before investing. To obtain a prospectus, visit www.guggenheimfunds.com or contact a securities representative or Guggenheim Funds Distributors, Inc. 2455 Corporate West Drive, Lisle, Ill. 60532, 800-345-7999.
Member FINRA/SIPC (2/12)
NOT FDIC INSURED • NOT BANK GUARANTEED • MAY LOSE VALUE