TSX Symbol: SKG.UN
TORONTO, June 18 /CNW/ - Skylon Growth & Income Trust (the "Trust")
intends to purchase for cancellation up to 1,753,345 of its Units by way of a
normal course issuer bid through the facilities of The Toronto Stock Exchange.
The 1,753,345 Units represent 10% of the public float of the Trust being
17,533,446 Units as at June 12, 2007. The number of issued and outstanding
Units as at June 12, 2007 is 17,567,246.
The purchases may commence on June 20, 2007 and will terminate on
June 19, 2008, or on such earlier date as the Trust may complete its purchases
pursuant to a notice of intention filed with The Toronto Stock Exchange or
provide notice of termination. Any such purchases will be made by the Trust at
the prevailing market price at the time of such purchases in accordance with
the requirements of The Toronto Stock Exchange.
Pursuant to the Trust's declaration of trust, the Trust may only
repurchase Units at a price which is less than the most recently determined
Net Asset Value per Unit. If the Units are trading at more than a 5% discount
to the Net Asset Value per Unit, the Manager of the Trust believes that it
would be in the best interests of the Trust and the holders of the Units to
purchase Units in the market.
In the last 12 months under its previous normal course issuer bid, the
Corporation purchased none of its Units. The Corporation did, however,
purchase 1,061,500 of its Units, at an average price of $10.28 per Unit,
pursuant to the mandatory repurchase requirements set out in its declaration
For further information:
For further information: David C. Pauli, Executive Vice-President and
Chief Operating Officer, CI Investments Inc., Tel.: (416) 364-1145, Toll Free: