CALGARY, Sept. 10, 2013 /CNW/ - MBN Corporation 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 equity shares through the facilities of the TSX. This NCIB will commence on September 12, 2013 and will terminate on September 11, 2014.
The Fund had 4,576,251 equity shares issued and outstanding as at September 6, 2013. The Fund may, during the 12 month period commencing September 12, 2013 purchase on the TSX up to 384,364 equity shares, being 10% of the public float and may not, in any 30 day period, purchase more than 91,525 equity shares, being 2% of the equity shares issued and outstanding. The Fund will cancel all equity shares purchased pursuant to the bid. As at September 6, 2013 the Fund had purchased 46,500 equity shares at an average price of $5.58 per equity share under its previously approved normal course issuer bid. The Fund is implementing the NCIB to allow it to purchase equity shares if and when it makes sense to do so.
MBN Corporation trades on the Toronto Stock Exchange under the symbol "MBN".
SOURCE: MBN Corporation
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