MONTREAL, Jan. 24 /CNW/ - O'Leary Funds Management LP, the manager (the
"Manager") of O'Leary Canadian Income Opportunities Fund 2 (the "Fund")
today announced that the Fund has commenced a normal course issuer bid
to purchase a portion of the outstanding trust units (TSX: OCH.un) on
the Toronto Stock Exchange ("TSX"). The purpose of the normal course
issuer bid is to provide the Fund with a mechanism to decrease the
potential spread between the net asset value per unit and the market
price of the trust units and to provide enhanced liquidity for the
trust units. Under the normal course issuer bid, the Fund intends to
purchase up to 1,182,100 trust units, representing 10% of the public
float of the securities issued and outstanding. These purchases will be
made in accordance with applicable regulations, and will be effected
through the facilities of TSX over a maximum period of 12 months
commencing on January 26, 2011 and ending on the earlier of January 25,
2012 or on such date as the Fund completes its purchase under the
normal course issuer bid or on such date as the Fund may otherwise
determine. Trust units purchased will be cancelled. The Fund had
11,830,000 trust units issued and outstanding as at January 19, 2011.
The Fund will not purchase in any given 30 day period, in the aggregate
more than 236,600 trust units, being 2% of the issued and outstanding
trust units as at January 19, 2011.
For further information:
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