CALGARY, June 5, 2015 /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, 2015 and will terminate on June 10, 2016. 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 5,351,577 units issued and outstanding as at May 31, 2015. The Fund may, during the 12 month period commencing June 11, 2015 purchase on the TSX up to 534,259 units, being 10% of the public float and may not, in any 30 day period, purchase more than 107,031 units, being 2% of the units issued and outstanding. The Fund will hold in treasury for resale all units purchased pursuant to the bid. As at May 31, 2015 the Fund had purchased 87,000 units at an average price of $13.26 per unit under its previously approved normal course issuer bid. The manager of the Fund believes that such purchases are in the best interest of the Fund and are a desirable use of its available funds.
COMPASS Income Fund trades on the Toronto Stock Exchange under the symbol "CMZ.UN".
SOURCE COMPASS Income Fund
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