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 10, 2008 and
will terminate on March 9, 2009. 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.
The Fund had 8,499,344 Capital Units and 5,929,455 Preferred Securities
issued and outstanding as at February 28, 2008. STRATA may, during the
12 month period commencing March 10, 2008 purchase on the TSX up to
849,034 Capital Units and 586,648 Preferred Securities, being 10% of the
public floats of 8,490,344 Capital Units and 5,866,484 Preferred Securities,
respectively, and may not, in any 30 day period, purchase more than
169,986 Capital Units and 118,589 Preferred Securities, being 2% of the
respective securities issued and outstanding. As at February 28, 2008, STRATA
has purchased 3,100 Capital Units at an average price of $7.91 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