CALGARY, Dec. 12, 2012 /CNW/ - Pathfinder Convertible Debenture Fund
announced that it has filed a notice with the Toronto Stock Exchange
(the "TSX") and received its approval to make a normal course issuer
bid ("NCIB") for its units through the facilities of the TSX. This
NCIB will commence on December 14, 2012 and will terminate on December
13, 2013. In accordance with the Declaration of Trust by which the
Fund is governed, market purchases pursuant to its NCIB may be effected
by the Fund.
The Fund had 9,348,525 units issued and outstanding as at December 5,
2012. The Fund may, during the 12 month period commencing December 14,
2012 purchase on the TSX up to 934,852 units, being 10% of the public
float and may not, in any 30 day period, purchase more than 186,970
units, being 2% of the units issued and outstanding. Pathfinder will
hold in treasury for resale all units purchased pursuant to the bid.
As at December 5, 2012 the Fund had purchased 233,100 units at an
average price of $11.89 per unit under its previously approved normal
course issuer bid. Pathfinder is implementing the NCIB to allow it to
purchase units if and when it makes sense to do so.
Pathfinder trades on the Toronto Stock Exchange under the symbol
SOURCE: Pathfinder Convertible Debenture Fund
For further information:
For further information visit our website at www.middlefield.com or contact the undersigned:
Managing Director, Sales and Marketing