CALGARY, Nov. 7, 2018 /CNW/ - Global Real Estate & E-Commerce Dividend Fund (TSX: GEC.UN) 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"). Purchases pursuant to the NCIB will be made in the open market through the facilities of the TSX. This NCIB will commence on November 12, 2018 and will terminate on November 11, 2019. 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 7,000,000 units issued and outstanding as at November 1, 2018. The Fund may, during the 12 month period commencing November 12, 2018 purchase on the TSX up to 682,366 units, being 10% of the public float and may not, in any 30 day period, purchase more than 140,000 units, being 2% of the units issued and outstanding. The Fund will cancel all units purchased pursuant to the bid. Subject to receiving all necessary regulatory approvals, the Fund may, in lieu of canceling units acquired, hold the units in treasury for resale. Global Real Estate & E-Commerce Dividend Fund is implementing the NCIB to allow it to purchase units if and when it makes sense to do so.
Global Real Estate & E-Commerce Dividend Fund trades on the Toronto Stock Exchange under the symbol "GEC.UN".
This press release may contain forward-looking information, including with respect to future purchases of Units by the Fund. The forward-looking information contained in this press release constitutes current expectations, as of the date of this press release, with respect to the matters covered hereby. Investors and others should not assume that any forward-looking statement contained in this press release represents an estimate as of any date other than the date of this press release.
SOURCE Global Real Estate & E-Commerce Dividend Fund
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