Press release from Marketwire
Canadian Utilities & Telecom Income Fund Announces Normal Course Issuer Bid
Monday, April 29, 2013
Canadian Utilities & Telecom Income Fund Announces Normal Course Issuer Bid16:03 EDT Monday, April 29, 2013
TORONTO, ONTARIO--(Marketwired - April 29, 2013) - Canadian Utilities & Telecom Income Fund (TSX:UTE.UN) (the "Fund") has filed a Notice of Intention to make a normal course issuer bid to purchase up to 427,943 Units representing approximately 10% of the Fund's public float of 4,279,430 Units as of April 25, 2013. The Fund may purchase up to 85,626 Units in any 30-day period which is 2% of the 4,281,300 Units issued and outstanding as at April 25, 2013.
The Units may be purchased for cancellation from May 1, 2013 to April 30, 2014 through the facilities of the TSX or other eligible alternative market and may only be purchased at a price per Unit not exceeding the last net asset value per Unit. The Directors of the manager of the Fund believe that such purchases are in the best interest of the Fund and are a desirable use of its available funds. The Fund has not purchased any Units during the previous year pursuant to any issuer bid.
For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172 or visit www.strathbridge.com.
|President, Fund Services|
FOR FURTHER INFORMATION PLEASE CONTACT:
Strathbridge Asset Management Inc.
416.681.3966 or toll free at 1.800.725.7172