TORONTO, Dec. 21 /CNW/ - MINT 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 is intended
to commence on December 27, 2007 and will terminate on December 26, 2008. In
accordance with the Trust Agreement by which MINT is governed, market
purchases pursuant to its normal course issuer bid may only be effected if
unitholders are offering their units for sale at less than net asset value per
The Fund had 13,449,687 units issued and outstanding as at December 13,
2007. MINT may, during the 12 month period commencing December 27, 2007
purchase on the TSX up to 1,343,204 units, being 10% of the public float of
13,432,045 units and may not, in any 30 day period, purchase more than 268,993
units, being 2% of the units issued and outstanding. As at December 13, 2007
MINT had purchased 311,600 units at an average price of $11.58 per unit under
its previously approved normal course issuer bid.
MINT has traded at prices which are less than the net asset value per
unit. As a result, depending on future stock price movements and other
factors, MINT believes that its units may represent an attractive investment
for the Fund and a desirable use of its available funds. Any normal course
purchases made by MINT will also afford an increased degree of liquidity to
those unitholders of MINT who wish to dispose of their units.
MINT trades on the Toronto Stock Exchange under the symbol "MID.UN".
For further information:
For further information: visit our website at www.middlefield.com or
contact the undersigned: Nancy Tham, Senior Vice President, (416) 847-5349