TORONTO, July 26, 2012 /CNW/ - Manulife Investments announced today that the Manulife Strategic Income Opportunities Fund (the "Fund"), a closed-end investment fund, received acceptance by the Toronto Stock Exchange (the "TSX") of the Fund's Notice of Intention to make a Normal Course Issuer Bid (the "NCIB").
Pursuant to the NCIB, the Fund proposes to purchase through the facilities of the TSX, from time to time, if it is considered advisable, up to 515,000 Units of the Fund, representing 5% of the public float which is the same number as the Fund's issued and outstanding Units, being 10,300,000 Units as of the close of business on July 20, 2012. The Fund will not purchase in any given 30-day period, in the aggregate, more than 206,000 Units, being 2% of the issued and outstanding Units as of the date hereof. Purchases of Units under the NCIB may commence on July 30, 2012. The Fund believes that such purchases are in the best interests of the Fund and are a desirable use of the Fund's assets. No purchases were made under the Fund's previously announced NCIB which expires on July 27, 2012. All purchases will be made through the facilities of the TSX in accordance with its rules and policies. All Units purchased by the Fund pursuant to the NCIB will be cancelled. The NCIB will expire on July 29, 2013.
About Manulife Investments
Manulife Investments is the brand name describing certain Canadian subsidiaries and operating divisions of Manulife Financial Corporation that offer personal wealth management products and services in Canada. As one of Canada's leading integrated financial services providers, Manulife Investments offers a variety of products and services including segregated fund contracts, mutual funds, annuities, guaranteed interest contracts and structured products. Manulife Structured Products are managed by Manulife Asset Management Limited.
About Manulife Financial
Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. In 2012, we celebrate 125 years of providing clients strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Funds under management by Manulife Financial and its subsidiaries were C$512 billion (US$512 billion) as at March 31, 2012. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife Financial can be found on the Internet at manulife.com.
For more information, please contact Manulife Customer Service at 1-888-333-3240.
SOURCE: Manulife Financial Corporation
For further information:
Tracy Van Kalsbeek
Manulife Financial Canadian Division