TORONTO, Feb. 15 /CNW/ - CMP Gold Trust (the "Trust")(TSX:CMP.UN),
managed by Dundee Securities Ltd. ("Dundee Securities") and sub-advised
by Ned Goodman Investment Counsel Ltd. ("NGIC"), will undertake a
normal course issuer bid. The bid of up to 709,757 trust units of the
Trust (the "Trust Units") represents approximately 10% of the public
float and will be excercised through the facilities of the Toronto
Stock Exchange ("TSX"). As of February 4, 2011, the public float of the
Trust was 7,097,573 trust units and the issued and outstanding number
of trust units of the Trust totaled 8,622,647.
The Trust Units may be purchased for cancellation commencing on February
17, 2011 through to February 16, 2012 through the facilities of the TSX
and may be purchased when the net asset value ("NAV") per Trust Unit
exceeds its trading price. Pursuant to TSX policies, the Trust will not
purchase during any 30 day period more than 172,452 Trust Units
representing 2% of the 8,622,647 Trust Units outstanding as at February
4, 2011. A Notice of Intention to Make a Normal Course Issuer Bid has
been accepted by the TSX, effective as of February 15, 2011.
The purpose of the normal course issuer bid is to provide value to the
Trust through purchases made at a discount to the NAV per Trust Unit.
As of February 4, 2011, the NAV of the Trust was $19.01 per trust unit
and the closing trading price was $12.19 per trust unit (representing a
discount of 35.88% when measured against the NAV per trust unit).
Dundee Securities is acting as broker on behalf of the Trust in
connection with the normal course issuer bid.
About Dundee Securities
Dundee Securities, manager of CMP Gold Trust and the flow-through
limited partnerships of CMP™ and Canada Dominion, is an investment
dealer and wholly owned subsidiary of Dundee Capital Markets Inc.
("Dundee Capital Markets") (TSX:DCM). Dundee Capital Markets is a full
service investment bank that provides financing and advisory services
for public and private companies as well as research and institutional
trading services to clients in Canada, the United States and Europe.
Dundee Corporation (TSX:DC.A) holds approximately 48% of Dundee Capital
NGIC is a wholly owned subsidiary of Dundee Corporation and is led by
Ned Goodman, CFA, utilizing a team of resource specialists at Dundee
Resources Limited, another wholly owned subsidiary of Dundee
Corporation. NGIC also acts as the sub-advisor to Dundee Securities for
the CMP and Canada Dominion family of flow-through limited partnerships
and to Goodman & Company, Investment Counsel Ltd. for the Dynamic
Focus+ Resource Fund and DMP Resource Class fund.
SOURCE CMP Gold Trust
For further information:
|Customer Relations Centre ||Myra Reisler, Media Relations|
|1-800-268-8186 or www.cmpfunds.ca ||(416) 365-5370|