TORONTO, May 14, 2012 /CNW/ - YIELDPLUS Income Fund announced today its intention to make a normal course issuer bid for its units through the facilities of the Toronto Stock Exchange (the "TSX"). This normal course issuer bid is intended to commence on May 16, 2012 and will terminate on May 15, 2013. In accordance with the Declaration of Trust by which YIELDPLUS is governed, market purchases pursuant to its normal course issuer bid may be effected by the Fund.
The Fund had 24,227,268 units issued and outstanding as at May 7, 2012. YIELDPLUS may, during the 12 month period commencing May 16, 2012 purchase on the TSX up to 2,420,372 units, being 10% of the public float of 24,203,726 units and may not, in any 30 day period, purchase more than 484,545 units, being 2% of the units issued and outstanding. YIELDPLUS will hold in treasury for resale all units purchased pursuant to the bid. YIELDPLUS believes that its units represent good value for the Fund and purchases under the normal course issuer bid may serve to enhance returns to unitholders.
YIELDPLUS trades on the Toronto Stock Exchange under the symbol "YP.UN".
For further information:
visit our website at www.middlefield.com or contact the undersigned:
Senior Vice President