MINT announces normal course issuer bid
May 12 2012 - 6:54PM
PR Newswire (Canada)
TORONTO, May 14, 2012 /CNW/ - MINT Income Fund announced today its
intention to make a normal course issuer bid for its units through
the facilities of the Toronto Stock Exchange (the "TSX").
This normal course issuer bid will commence on May 16, 2012 and
will terminate on May 15, 2013. In accordance with the Trust
Agreement by which MINT is governed, market purchases pursuant to
its normal course issuer bid may only be effected if unitholders
are offering their units for sale at less than net asset value per
unit. The Fund had 12,273,814 units issued and outstanding as at
May 7, 2012. MINT may, during the 12 month period commencing
May 16, 2012 purchase on the TSX up to 1,222,363 units, being 10%
of the public float of 12,223,638 units and may not, in any 30 day
period, purchase more than 245,476 units, being 2% of the units
issued and outstanding. MINT will hold in treasury for resale
all units purchased pursuant to the bid. MINT has traded at prices
which are less than the net asset value per unit. As a
result, depending on future stock price movements and other
factors, MINT believes that its units may represent an attractive
investment for the Fund and a desirable use of its available
funds. Any normal course purchases made by MINT will also
afford an increased degree of liquidity to those unitholders of
MINT who wish to dispose of their units. MINT trades on the Toronto
Stock Exchange under the symbol "MID.UN". MINT Income Fund CONTACT:
For further information visit our website at
www.middlefield.comorcontact the undersigned:Nancy ThamSenior Vice
President(416) 847-5349
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