TSX Symbol: MXT.UN
TORONTO, Nov. 7 /CNW/ - Mackenzie Financial Corporation is pleased to
announce that MSP Maxxum Trust (the "Trust"), in accordance with the terms of
its initial public offering, intends to renew its normal course issuer bid
through the facilities of the Toronto Stock Exchange (the "TSX") to purchase
for cancellation up to 486,185 units of the Trust, representing 10% of the
public float of units as at November 5, 2007.
As at that date, there were 4,861,856 units issued and outstanding. The
Trust may purchase units through the facilities of the TSX during the period
commencing November 9, 2007 and ending November 8, 2008. Purchases by the
Trust under the normal course issuer bid, together with purchases under its
mandatory market purchase program, will not exceed, during any 30-day period,
more than 97,237 units.
The purchase of units by the Trust will enhance the liquidity of the
units. Furthermore, these purchases will increase the net asset value per unit
for unitholders who remain invested in the Trust, to the extent that the
purchases are effected at market prices that are less than the net asset value
per unit. No units will be purchased at market prices exceeding the net asset
value per unit.
Since its existing normal course issuer bid commenced on November 1,
2005, the Trust has purchased and cancelled 670,022 units at an average price
of $8.4876. This total includes 293,422 units purchased under the Trust's
mandatory market purchase program. The remaining 376,600 units were purchased
under the normal course issuer bid.
Mackenzie Financial Corporation, a part of IGM Financial Inc. (TSX:IGM)
and a member of the Power Financial Corporation group of companies, is the
trustee and manager of the Trust. Mackenzie, founded in 1967, manages
approximately $64.1 billion of assets for more than one million investors.
To learn more, please contact your financial advisor or visit the MSP
website at www.mackenziefinancial.com/msp.
For further information:
For further information: Catharine Marion, Environics Communications
Inc., (416) 969-2809, email@example.com