TORONTO, June 5 /CNW/ - COMPASS Income Fund announced today its intention
to make a normal course issuer bid for its units through the facilities of the
Toronto Stock Exchange (the "TSX"). This normal course issuer bid is intended
to commence on June 9, 2009 and will terminate on June 8, 2010. In accordance
with the Declaration of Trust by which COMPASS is governed, market purchases
pursuant to its normal course issuer bid may be effected by the Fund.
The Fund had 12,412,225 units issued and outstanding as at May 29, 2009.
COMPASS may, during the 12 month period commencing June 9, 2009 purchase on
the TSX up to 620,611 units, being 5% of the units outstanding and may not, in
any 30 day period, purchase more than 248,244 units, being 2% of the units
issued and outstanding. COMPASS will hold in treasury for resale all units
purchased pursuant to the bid. As at May 29, 2009 COMPASS had purchased
217,900 units at an average price of $9.18 per unit under its previously
approved normal course issuer bid. COMPASS believes that its units represent
good value for the Fund and purchases under the normal course issuer bid may
serve to enhance returns to unitholders.
COMPASS trades on the Toronto Stock Exchange under the symbol "CMZ.UN".
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