America First Tax Exempt Investors L.P. Announces Share Purchase Plan
20 Décembre 2007 - 2:00PM
Business Wire
America First Tax Exempt Investors, L.P. (NASDAQ:ATAXZ) (�America
First� or the �Company�), announced today that The Burlington
Capital Group, LLC (�Burlington�) has adopted a prearranged trading
plan (the��Plan�) with RBC Dain Rauscher (�RBC�) under which RBC
will acquire Beneficial Unit Certificates (�BUCs�) representing
assigned limited partnership interests in America First in open
market purchases made from time to time for the account of
Burlington beginning January 1, 2008. Burlington may acquire up to
$2,000,000 of BUCs under the Plan. Burlington is the general
partner of the general partner of America First. Due to their
control of Burlington, BUCs acquired by Burlington are also
considered to be beneficially owned by Burlington�s Chairman,
Michael Yanney and his wife Gail Walling Yanney, and its Chief
Executive Officer, Lisa Roskens. As a result, the Plan was
established in accordance with the guidelines specified by Rule
10b5-1 under the Securities Exchange Act of 1934, as well as
America First�s policies with respect to trading BUCs held by
directors and officers of Burlington. Under the terms of the Plan,
neither Burlington nor any of its officers or directors, including
Mr. and Mrs. Yanney and Ms. Roskens, will have discretion or
control over the timing or effectuation of the purchases of BUCs.
Appropriate filings will be made with the Securities and Exchange
Commission to report purchases under the Plan. Rule 10b5-1 allows
an insider of a public company to adopt written, prearranged plans
under which a third party may buy or sell the stock of the company
on the insider�s behalf as long as the insider did not possess
material, non-public information about the company when the plan
was adopted. Once a plan is established, trades may be executed
under the plan at any time, even if the insider happens to possess
material nonpublic information at the time, since the trade is
based on the application of a formula or binding instructions
determined at the time the plan was adopted. The Plan adopted by
Burlington also incorporates additional provisions designed to
comply with certain legal restrictions on repurchases of a public
company shares by the company itself or its affiliates. About
America First Tax Exempt Investors, L.P. America First Tax Exempt
Investors, L.P. was formed for the primary purpose of acquiring,
holding, selling and otherwise dealing with a portfolio of
federally tax-exempt mortgage revenue bonds which have been issued
to provide construction and/or permanent financing of multifamily
residential apartments. The Company is pursuing a business strategy
of acquiring additional tax-exempt mortgage revenue bonds on a
leveraged basis in order to: (i) increase the amount of tax-exempt
interest available for distribution to its investors; (ii) reduce
risk through asset diversification and interest rate hedging; and
(iii) achieve economies of scale. The Company seeks to achieve its
investment growth strategy by investing in additional tax-exempt
mortgage revenue bonds and related investments, taking advantage of
attractive financing structures available in the tax-exempt
securities market and entering into interest rate risk management
instruments. America First Tax Exempt Investors, L.P. press
releases are available on the World Wide Web at www.ataxz.com.
Information contained in this Press Release contains
�forward-looking statements� relating to, without limitation,
future performance, plans and objectives of management for future
operations and projections of revenue and other financial items,
which can be identified by the use of forward-looking terminology
such as �may,� �will,� �should,� �expect,� �anticipate,� �estimate�
or �continue� or the negative thereof or other variations thereon
or comparable terminology. Several factors with respect to such
forward-looking statements, including certain risks and
uncertainties, could cause actual results to differ materially from
those in such forward-looking statements. Many of these risks and
uncertainties are described in filings made by the Company with the
Securities and Exchange Commission, including its annual reports on
Form 10-K, its quarterly reports on Form 10-Q and its current
reports on Form 8-K.
America First Tax Exempt (NASDAQ:ATAXZ)
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