CALGARY, May 16, 2013 /CNW/ - REIT INDEXPLUS Income Fund 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 units through the facilities of the TSX. This NCIB will commence on May 18, 2013 and will terminate on May 17, 2014. 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 10,067,995 units issued and outstanding as at May 7, 2013. The Fund may, during the 12 month period commencing May 18, 2013 purchase on the TSX up to 1,005,979 units, being 10% of the public float and may not, in any 30 day period, purchase more than 201,359 units, being 2% of the units issued and outstanding. REIT INDEXPLUS will hold in treasury for resale all units purchased pursuant to the bid. As at May 7, 2013 the Fund had purchased 406,800 units at an average price of $11.71 per unit under its previously approved normal course issuer bid. REIT INDEXPLUS is implementing the NCIB to allow it to purchase units if and when it makes sense to do so.
REIT INDEXPLUS Income Fund trades on the Toronto Stock Exchange under the symbol "IDR.UN".
SOURCE: REIT INDEXPLUS Income Fund
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