CALGARY, March 4, 2014 /CNW/ - MINT Income Fund (the "Fund") announced that it has filed a notice with the Toronto Stock Exchange (the "TSX") and received the TSX's approval to amend its previously announced normal course issuer bid ("NCIB") for its units through the facilities of the TSX. The Fund is amending the NCIB to reflect that the number of its units outstanding has increased by more than 25% since the commencement of the NICB. The NCIB commenced on May 16, 2013 and will terminate on May 15, 2014. In accordance with the Declaration of Trust by which the Fund is governed, market purchases pursuant to the NCIB may be effected by the Fund.
The Fund had 27,855,645 units issued and outstanding as at February 24, 2014. The Fund is permitted to purchase up to 2,778,130 units pursuant to the amended NCIB, which number is equal to 10% of the public float as at February 24, 2014. As the Fund has purchased 467,100 units pursuant to the NCIB to date, it is permitted to purchase an additional 2,311,030 units during the remaining period of the NCIB. Purchases pursuant to the NCIB to date have been made at an average price of $9.81 per unit. The Fund may not, in any 30 day period, purchase more than 557,112 units, being 2% of the units issued and outstanding.
MINT has implemented the NCIB to allow it to purchase units if and when it makes sense to do so. Units purchased pursuant to the NCIB will be held by the Fund for resale.
MINT trades on the Toronto Stock Exchange under the symbol "MID.UN".
SOURCE: MINT Income Fund
For further information:
Visit our website at www.middlefield.com or contact the undersigned:
Senior Vice President