TORONTO, Oct. 8 /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 October 10, 2008 and will terminate on
October 9, 2009. 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 34,481,669 units issued and outstanding as at October 1,
2008. YIELDPLUS may, during the 12 month period commencing October 10, 2008
purchase on the TSX up to 3,444,467 units, being 10% of the public float of
34,444,676 units and may not, in any 30 day period, purchase more than 689,633
units, being 2% of the units issued and outstanding. YIELDPLUS will hold in
treasury for resale all units purchased pursuant to the bid. As at October 1,
2008 YIELDPLUS had purchased 217,100 units at an average price of $10.53 per
unit under its previously approved normal course issuer 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:
For further information: visit our website at www.middlefield.com or
contact the undersigned: Nancy Tham, Senior Vice President, (416) 847-5349