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MONTREAL, Sept. 11 /CNW Telbec/ - In accordance with regulatory
requirements, Amos Alter, Chief Executive Officer of Madacy Entertainment
Income Fund ("Fund"), announced today that he has acquired ownership of an
additional 20,000 units of the Fund ("Fund Units"), at an average price of
$2.20 per unit, through the facilities of the Toronto Stock Exchange.
Immediately after the transaction, Amos Alter, and persons acting in
concert with Mr. Alter (collectively, the "Management Group"), have ownership
and control, directly and indirectly, over an aggregate of 1,344,600 Fund
Units, representing an interest of approximately 17.83% of the total Fund
Units outstanding (an increase of 3.10% from the previous announcement by
Mr. Alter of having acquired additional ownership of Fund Units).
Assuming the exchange of all of the class B exchangeable units of Madacy
LP ("Class B Units") into Fund Units, the Management Group would have
ownership and control, directly and indirectly, over an aggregate of
4,470,044 Fund Units, representing 38.54% of the issued and outstanding Fund
Units. The Class B Units are currently not exchangeable into Fund Units within
the next 60 days.
The Fund Units were purchased for investment purposes. The Management
Group may acquire additional Fund Units from time to time in accordance with
applicable laws, dispose of some or all of the existing or additional Fund
Units, or continue to hold Fund Units in the normal course of its investment
For further information:
For further information: Hillel Frankel, (514) 341-5600 x333