Canadian Preferred Share Trust announces Normal Course Issuer Bid
Jul 30, 2015, 08:00 ET
TORONTO and MONTREAL, July 30, 2015 /CNW Telbec/ - Canadian Preferred Share Trust (TSX: PFT.UN) (the "Trust"), announced today acceptance by the Toronto Stock Exchange (the "TSX") of the Trust's Notice of Intention to make a Normal Course Issuer Bid (the "NCIB").
Pursuant to the NCIB, the Trust proposes to purchase through the facilities of the TSX, from time to time, if it is in the best interests of the Trust, up to 701,356 Class A units ("Units") of the Trust, representing approximately 10% of the public float. As of July 23, 2015, the Trust had 7,013,569 issued and outstanding Units. The Trust will not purchase in any given 30-day period, in aggregate, more than 140,271 Units, being 2% of the issued and outstanding Units as of July 23, 2015.
Fiera Capital Corporation, the manager of the Trust, believes that such purchases are in the best interests of the Trust. All purchases will be made through the facilities of the TSX in accordance with its rules and policies. All Units purchased by the Trust pursuant to the NCIB will be cancelled. The NCIB will commence on August 4, 2015 and will expire on August 3, 2016.
About Fiera Capital Corporation
Fiera Capital Corporation is a leading publicly-traded, independent investment firm with offices in major financial centres across North America. Fiera Capital offers the full array of traditional and alternative investment solutions for institutional, private wealth and retail clients, as well as a proactive and tactical asset allocation process. In the U.S., asset management services are provided by Fiera Capital's U.S. subsidiaries, Bel Air Investment Advisors LLC and Wilkinson O'Grady & Co., Inc. For more information, visit www.fieracapital.com.
SOURCE Fiera Capital Corporation
For further information: Stephen Kangas, Senior Vice President, Retail Markets, Fiera Capital at 416-955-4929 or visit www.fieracapital.com
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