Press release from CNW Group
Brand Leaders Income Fund announces normal course issuer bid August 15, 2011
Thursday, August 11, 2011
Brand Leaders Income Fund announces normal course issuer bid August 15, 201109:59 EDT Thursday, August 11, 2011TORONTO, Aug. 11, 2011 /CNW/ - Harvest Portfolios Group Inc., the manager (the "Manager") of Brand Leaders Income Fund (the "Fund") today announced that the Fund will commence a normal course issuer bid to purchase a portion of the outstanding trust units (TSX: HBL.un) on the Toronto Stock Exchange ("TSX"). The purpose of the normal course issuer bid is to provide the Fund with a mechanism to decrease the potential spread between the net asset value per unit and the market price of the trust units and to provide enhanced liquidity for the trust units. The Fund intends to purchase up to 259,747 trust units, representing 10% of the public float of the securities issued and outstanding. These purchases will be made in accordance with applicable regulations, and will be effected through the facilities of TSX over a maximum period of 12 months commencing on August 15, 2011 and ending on the earlier of August 14, 2012 or on such date as the Fund completes its purchase under the normal course issuer bid or on such date as the Fund may otherwise determine. Trust units purchased will be cancelled. The Fund had 2,601,378 trust units issued and outstanding and will not purchase in any given 30 day period, in the aggregate more than 52,027, being 2% of the issued and outstanding trust units as at August 15, 2011.For further information: For media inquiries or additional information: please contact Harvest Portfolios Group Inc. at firstname.lastname@example.org or at 1-866-998-8298.