CALGARY, June 7, 2013 /CNW/ - COMPASS Income 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 June 11, 2013 and will terminate on June 10, 2014. 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 6,138,414 units issued and outstanding as at May 30, 2013. The Fund may, during the 12 month period commencing June 11, 2013 purchase on the TSX up to 613,024 units, being 10% of the public float and may not, in any 30 day period, purchase more than 122,768 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 30, 2013 the Fund had purchased 56,800 units at an average price of $12.12 per unit under its previously approved normal course issuer bid. COMPASS is implementing the NCIB to allow it to purchase units if and when it makes sense to do so.
COMPASS trades on the Toronto Stock Exchange under the symbol "CMZ.UN".
SOURCE: COMPASS Income Fund
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