TORONTO, Oct. 18, 2012 /CNW/ - Crown Hill Capital Corporation, the Manager and Trustee of Energy Income Fund (the "Trust"), announced today that the Trust has purchased 752,700 units for cancellation under its Normal Course Issuer Bid program between November 30, 2011 and October 17, 2012. Pursuant to subsection 6.25(7) of the Declaration of Trust, on an annual basis the maximum number of Trust units redeemable in a year pursuant to the Annual Redemption will be 10% of the Public Float of the Trust as determined on the first business day of a calendar year less the number of Trust units purchased for cancellation by the Trust during the preceding twelve (12) month period (the "Maximum Redemption Amount"). The public float as determined on January 3, 2012 was 7,437,656 units, therefore 10% of the public float was 743,766 units. The Maximum Redemption Amount for the 2012 Annual Redemption on November 29, 2012 has been reached and therefore there will be no additional units redeemable under the annual redemption privilege for this year. The Trust provides liquidity and market price support for unitholders through purchases in the open market via normal course issuer bids rather than through a redemption of units. The Trust will continue to purchase units under the normal course issuer bid to provide liquidity to unitholders.
Certain statements contained in this news release constitute forward -looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information.
SOURCE: Energy Income Fund
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