TORONTO, June 22 /CNW/ - SCITI TR Limited, the Trustee of SCITI Total
Return Trust (the "Trust"), announced today that the Trust will commence a
normal course issuer bid on June 26, 2007 to permit the Trust to purchase a
portion of the outstanding Trust Units ("Units") on the TSX from time to time.
The Trust may purchase Units in the market for cancellation if Scotia Capital
Inc., in its capacity as administrator to the Trust, determines that such
purchases are accretive to holders of Units. Under the normal course issuer
bid, the Trust may purchase up to 1,319,100 Units, representing approximately
10% of the 13,191,040 Units currently in the public float, which is the same
as the issued and outstanding. These purchases will be made in accordance with
applicable regulations over a maximum period of 12 months ending June 25,
2008. Units purchased will be cancelled.
During the past twelve months the Trust has purchased, through the TSX,
121,200 Units at an average price of $8.65.
The Trust was created to provide holders of units with tax efficient
exposure to the total return of an equally weighted portfolio of income funds
of the 100 largest income funds included in the Scotia Capital Income Trust
Index from time to time.
Units are listed for trading on the TSX under the symbol STF.UN.
For further information:
For further information: Investor Relations, SCITI Total Return Trust,
(416) 945-5369, E-mail: email@example.com, Web site: