Bloom Select Income Fund Announces Normal Course Issuer Bid for Units
May 20 2014 - 9:49AM
Marketwired
Bloom Select Income Fund Announces Normal Course Issuer Bid for
Units
TORONTO, ONTARIO--(Marketwired - May 20, 2014) - Bloom Select
Income Fund (the "Fund") (TSX:BLB.UN) announced today acceptance by
the Toronto Stock Exchange (the "TSX") of the Fund's Notice of
Intention to make a Normal Course Issuer Bid (the "NCIB").
Pursuant to the
NCIB, the Fund proposes to purchase through the facilities of the
TSX, from time to time, if it is considered advisable, up to
371,326 Units of the Fund, representing approximately 10% of the
public float of 3,713,268 Units as of May 14, 2014. The Fund will
not purchase in any given 30-day period, in the aggregate, more
than 76,458 Units, being 2% of the issued and outstanding Units of
3,822,921 as of May 14, 2014. Purchases of Units under the NCIB may
commence on May 22, 2014. Bloom Investment Counsel, Inc., the
manager of the Fund, believes that such purchases are in the best
interests of the Fund and are a desirable use of the Fund's
resources. All purchases will be made through the facilities of the
TSX in accordance with its rules and policies. All Units purchased
by the Fund pursuant to the NCIB will be cancelled. The NCIB will
expire on May 21, 2015.
On May 10, 2013, the
Fund announced that it was making a Normal Course Issuer Bid, which
commenced May 14, 2013, to purchase up to 516,641 units through the
facilities of the TSX. The Fund repurchased 149,000 Units at a
weighted average price of $9.13 per unit under the bid, which
expired on May 13, 2014.
Since the Fund's
inception in April 2012, the Fund has paid cash distributions of
$1.02 per unit. Unitholders are reminded that the Fund has a
Dividend Reinvestment Plan (DRIP) providing unitholders with the
ability to automatically reinvest their distributions and benefit
from the compound growth from this reinvestment. Please contact
your Investment Advisor or financial institution to enrol in this
DRIP.
Bloom FundsInvestor Relations416-861-9941 or
1-855-BLOOM18www.bloomfunds.ca
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