Utility Split Trust Announces Normal Course Issuer Bid For Class B Preferred Securities and Capital Units
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 12/20/12 -- Utility Split Trust (the "Trust") (TSX: UST.PR.B)(TSX: UST.UN) announced today acceptance by the Toronto Stock Exchange (the "TSX") of the Trust's Notice of Intention to make a Normal Course Issuer Bid (the "NCIB") to permit the Trust to acquire its Class B Preferred Securities and Capital Units (collectively, the "Securities").
Pursuant to the NCIB, the Trust proposes to purchase through the facilities of the TSX, from time to time, if it is considered advisable, up to 111,827 Class B Preferred Securities and up to 111,827 Capital Units of the Trust, representing approximately 10% of the public float, being 1,118,276 Class B Preferred Securities and 1,118,276 Capital Units as of the close of business of December 13, 2012. The Trust will not purchase in any given 30-day period, in the aggregate, more than 24,071 Class B Preferred Securities and 24,071 Capital Units, representing approximately 2% of the issued and outstanding Class B Preferred Securities and Capital Units, being 1,203,576 Class B Preferred Securities and 1,203,576 Capital Units as of the close of business of December 13, 2012. Purchases of Units under the NCIB may commence on December 24, 2012. First Asset Investment Management Inc., the manager of the Trust, believes that such purchases are in the best interests of the Trust and are a desirable use of the Trust's funds. All purchases will be made through the facilities of the TSX in accordance with its rules and policies. All Securities purchased by the Trust pursuant to the NCIB will not be cancelled and will be held for resale. The NCIB will expire on December 23, 2013.
On December 20, 2011, the Trust announced that it was making a Normal Course Issuer Bid, which commenced December 22, 2011, to purchase up to 120,357 Class A Preferred Securities and up to 120,357 Capital Units through the facilities of the TSX. No Securities were repurchased under the bid, which will expire on December 21, 2012.
Contacts:
First Asset
Rob MacNiven
Investor Relations
416-642-1289 or 1-877-642-1289
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Datum: 20.12.2012 - 11:00 Uhr
Sprache: Deutsch
News-ID 1182479
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