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 12, 2009 and will terminate on October 11, 2010. 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 38,214,476 units issued and outstanding as at October 1, 2009. YIELDPLUS may, during the 12 month period commencing October 12, 2009 purchase on the TSX up to 3,816,300 units, being 10% of the public float of 38,163,003 units and may not, in any 30 day period, purchase more than 764,289 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, 2009 YIELDPLUS had purchased 299,000 units at an average price of $5.82 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".
SOURCE YIELDPLUS Income Fund
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