TORONTO, March 6 /CNW/ - STRATA Income Fund announced today its intention
to make a normal course issuer bid for its Capital Units and Preferred
Securities through the facilities of the Toronto Stock Exchange (the "TSX").
This normal course issuer bid is intended to commence on March 8, 2007 and
will terminate on March 7, 2008. In accordance with the Declaration of Trust
by which STRATA is governed, market purchases pursuant to its normal course
issuer bid may be effected by the Fund.
At February 27, 2007 there were 9,215,056 Capital Units and 6,214,711
Preferred Securities issued and outstanding including 9,211,056 Capital Units
and 6,209,696 Preferred Securities in the public float. STRATA may, during the
12 month period commencing March 8, 2007 purchase on the TSX up to 921,105
Capital Units and 620,969 Preferred Securities, being 10% of the respective
public floats. Since March 8, 2006, STRATA has purchased 6,100 Capital Units
at an average price of $8.40 per Capital Unit under its previously approved
normal course issuer bid. STRATA believes that its Capital Units and Preferred
Securities represent good value for the Fund and purchases under the normal
course issuer bid may serve to enhance returns to securityholders.
The STRATA Capital Units and Preferred Securities trade on the Toronto
Stock Exchange under the symbols STW.UN and STW.PR.A, respectively.
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