CALGARY, March 4, 2014 /CNW/ - MINT Income Fund
(the "Fund") announced that it has filed a notice with the
Toronto Stock Exchange (the "TSX")
and received the TSX's approval to amend its previously announced
normal course issuer bid ("NCIB") for its units through the
facilities of the TSX. The Fund is amending the NCIB to reflect
that the number of its units outstanding has increased by more than
25% since the commencement of the NICB. The NCIB commenced on
May 16, 2013 and will terminate on
May 15, 2014. In accordance
with the Declaration of Trust by which the Fund is governed, market
purchases pursuant to the NCIB may be effected by the Fund.
The Fund had 27,855,645 units issued and
outstanding as at February 24, 2014.
The Fund is permitted to purchase up to 2,778,130 units pursuant to
the amended NCIB, which number is equal to 10% of the public float
as at February 24, 2014. As the Fund
has purchased 467,100 units pursuant to the NCIB to date, it is
permitted to purchase an additional 2,311,030 units during the
remaining period of the NCIB. Purchases pursuant to the NCIB to
date have been made at an average price of $9.81 per unit. The Fund may not, in any 30 day
period, purchase more than 557,112 units, being 2% of the units
issued and outstanding.
MINT has implemented the NCIB to allow it to
purchase units if and when it makes sense to do so. Units purchased
pursuant to the NCIB will be held by the Fund for resale.
MINT trades on the Toronto Stock Exchange under
the symbol "MID.UN".
SOURCE MINT Income Fund