TORONTO, Dec. 10 /CNW/ - Pathfinder Convertible Debenture 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 December 14, 2009 and will terminate on December 13, 2010. In accordance with the Declaration of Trust by which Pathfinder is governed, market purchases pursuant to its normal course issuer bid may be effected by the Fund.
The Fund had 6,223,000 units issued and outstanding as at December 10, 2009. Pathfinder may, during the 12 month period commencing December 14, 2009 purchase on the TSX up to 618,420 units, being 10% of the public float of 6,184,200 units and may not, in any 30 day period, purchase more than 124,460 units, being 2% of the units issued and outstanding. Pathfinder 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. Pathfinder believes that its units represent good value for the Fund and purchases under the normal course issuer bid may serve to enhance returns to unitholders.
Pathfinder trades on the Toronto Stock Exchange under the symbol "PCD.UN".
SOURCE Pathfinder Convertible Debenture Fund
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