TORONTO, April 29 /CNW/ - Goodman & Company, Investment Counsel Ltd.
("Goodman & Company"), manager of diversiTrust(TM) Energy Income Fund (TSX:
DTN.UN) (the "Fund"), announces a normal course issuer bid. In accordance with
the terms of its initial public offering, the Fund intends to purchase,
through the facilities of the TSX, up to 318,469 trust units of the Fund (the
"Trust Units"), representing approximately 10% of the public float. The public
float of the fund as of April 20, 2009 was 3,184,697 Trust Units.
The Trust Units may be purchased for cancellation commencing as at May 1,
2009 through to April 30, 2010 through the facilities of the TSX and may be
purchased when the net asset value ("NAV") per Trust Unit exceeds its trading
price. Pursuant to TSX policies, the Fund will not purchase during any 30 day
period more than 2% of the 3,415,043 Trust Units outstanding as at April 20,
2009. A Notice of Intention to Make a Normal Course Issuer Bid has been
accepted by the TSX effective as of April 30, 2009.
The purpose of the normal course issuer bid is to provide the Fund with a
mechanism to decrease the potential spread between the NAV per Trust Unit and
the market price of the Trust Units. For the period May 1, 2008 to April 20,
2009, 218,900 Trust Units were purchased by the Fund under its normal course
issuer bid at an average market price of approximately $5.20 per Trust Unit
(excluding commission charges).
The Fund is a TSX-listed closed-end investment trust, which seeks to
provide a stable monthly distribution through investment in a portfolio
consisting primarily of energy trusts and, to a lesser extent, energy shares.
As of April 20, 2009, the NAV was $3.28 per Trust Unit and the closing trading
price was $3.31 per Trust Unit (representing a premium of 0.91% when measured
against the NAV per Trust Unit).
Goodman & Company, Investment Counsel Ltd., is a leading Canadian asset
management company tracing its roots back more than 50 years. Goodman &
Company offers a wide range of wealth management solutions through financial
advisors. These include the mutual funds, hedge funds and closed-end
investment trusts of Dynamic Funds, the portfolio solutions of the Marquis
Investment Program, the flow-through limited partnerships of CMP(TM) and
Canada Dominion Resources and the high-net worth investment counsel of Goodman
Private Wealth Management. Goodman & Company is an affiliate of DundeeWealth
Inc. (TSX: DW).
Dynamic Funds, diversiTrust and CMP are registered trademarks of Dundee
Corporation, used under license.
For further information:
For further information: Customer Relations Centre, Goodman & Company,
Investment Counsel Ltd., 1-800-268-8186 or www.diversifunds.com; Myra Reisler,
Media Relations, (416) 365-5370