Brand Leaders Income Fund Announces Intention to Make Normal Course Issuer Bid
August 21 2013 - 1:50PM
Marketwired
Harvest Portfolios Group Inc., the manager (the "Manager") of Brand
Leaders Income Fund (the "Fund") (TSX:HBL.UN) is pleased to
announce that the Fund intends to purchase up to 239,804 listed
trust units of the Fund (the "Units") for cancelation by way of a
normal course issuer bid through the facilities of the Toronto
Stock Exchange (the "TSX"). The 239,804 Units represent
approximately 10% of the public float of the Fund. As of August 14,
2013, 2,399,448 Units were issued and outstanding. The public float
of 2,398,048 Units has been calculated as the issued and
outstanding Units, respectively, less Units held by insiders of the
Fund.
The purchases may commence on August 23, 2013 and will terminate
on August 22, 2014, or on such earlier date as the Fund may
complete its purchases or provide notice of termination. Any such
purchases will be made by the Fund at the prevailing market price
at the time of such purchases in accordance with the requirements
of the TSX.
The Fund will not purchase in any 30-day period more than 47,988
Units (2% of the issued and outstanding Units, respectively, as at
the date of acceptance of the notice of the normal course issuer
bid by the TSX).
The purpose of the normal course issuer bid for Units is to
provide the Fund with a mechanism to decrease the potential spread
between the net asset value per unit and the market price of the
trust units and to provide enhanced liquidity for the Units. In the
12 months preceding the date of this release, the Fund has
purchased for cancellation 15,500 Units pursuant to an expiring
normal course issuer bid at a weighted average price of $11.11 per
Unit.
Certain statements included in this news release constitute
forward-looking statements. The forward-looking statements are not
historical facts but reflect the Manager's current expectations
regarding future results or events. These forward-looking
statements are subject to a number of risks and uncertainties that
could cause actual results or events to differ materially from
current expectations, including, but not limited to, the ability of
the Manager to purchase Units or Warrants for cancellation by way
of the normal course issuer bid, for whatever reason. Readers are
cautioned not to place undue reliance on forward-looking statements
due to the inherent uncertainty therein. The Manager undertakes no
obligation to update publicly or otherwise revise any
forward-looking statement or information whether as a result of new
information, future events or other such factors which affect this
information, except as required by law. For a complete disclosure
record for the Fund please visit the Fund's profile on
www.sedar.com.
Contacts: Harvest Portfolios Group Inc.
1-866-998-8298info@harvestportfolios.com
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