TORONTO, May 16 /CNW/ - REIT INDEXPLUS 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 18, 2011
and will terminate on May 17, 2012. In accordance with the Declaration
of Trust by which the Fund is governed, market purchases pursuant to
its normal course issuer bid may be effected by the Fund.
The Fund had 14,600,000 units issued and outstanding as at May 12,
2011. The Fund may, during the 12 month period commencing May 18, 2011
purchase on the TSX up to 1,456,950 units, being 10% of the public
float of 14,569,500 units and may not, in any 30 day period, purchase
more than 292,000 units, being 2% of the units issued and outstanding.
The Fund will cancel all units purchased pursuant to the bid. Subject
to receiving all necessary regulatory approvals, the Fund may, in lieu
of canceling units acquired, hold the units in treasury for resale.
REIT INDEXPLUS Income Fund believes that its units represent good value for the Fund and purchases
under the normal course issuer bid may serve to enhance returns to
REIT INDEXPLUS Income Fund trades on the Toronto Stock Exchange under the symbol "IDR.UN".
SOURCE REIT INDEXPLUS Income Fund
For further information:
visit our website at www.middlefield.com or contact the undersigned:
Managing Director, Sales and Marketing