CALGARY, Dec. 20, 2018 /CNW/ - Middlefield Can-Global REIT Income Fund (the "Fund") (TSX: RCO.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 December 28, 2018 and will terminate on December 27, 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 2,222,891 units issued and outstanding as at December 14, 2018. The Fund may, during the 12 month period commencing December 28, 2018 purchase on the TSX up to 222,289 units, being 10% of the public float and may not, in any 30 day period, purchase more than 44,457 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 December 14, 2018 the Fund had purchased 17,000 units on the TSX at an weighted average price of $11.56 per unit under its previously approved normal course issuer bid. The Fund had the ability to purchase up to 299,910 units under its last NCIB. 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.
The Fund trades on the Toronto Stock Exchange under the symbol "RCO.UN".
SOURCE Middlefield Can-Global REIT Income Fund
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