CALGARY, April 9, 2019 /CNW/ - Global Innovation
Dividend Fund (the "Fund") (TSX:BL.UN) announced that it has
filed a notice with the Toronto Stock Exchange (the "TSX") and
received its approval to make a normal course issuer bid
("NCIB"). Purchases pursuant to the NCIB will be made in the
open market through the facilities of the TSX. This NCIB will
commence on April 13, 2019 and will
terminate on April 12, 2020. In
accordance with the Declaration of Trust by which the Fund is
governed, market purchases pursuant to its NCIB may be effected by
the Fund.
The Fund had 7,358,500 units issued and outstanding as at
March 29, 2019. The Fund may,
during the 12 month period commencing April
13, 2019 purchase on the TSX up to 730,420 units, being 10%
of the public float and may not, in any 30 day period, purchase
more than 147,170 units, being 2% of the units issued and
outstanding. The Fund will hold in treasury for resale all
units purchased pursuant to the bid. As at March 29, 2019 the Fund had purchased 778,900
units on the TSX at a weighted average price of $9.52 per unit under its previously approved
normal course issuer bid. The Fund had the ability to
purchase up to 795,000 units under its last NCIB. The manager of
the Fund believes that such purchases are in the best interest of
the Fund and are a desirable use of its available funds.
The Fund trades on the Toronto Stock Exchange under the symbol
"BL.UN".
This press release may contain forward-looking information,
including with respect to future purchases of Units by the
Fund. The forward-looking information contained in this press
release constitutes current expectations, as of the date of this
press release, with respect to the matters covered hereby.
Investors and others should not assume that any forward-looking
statement contained in this press release represents an estimate as
of any date other than the date of this press release.
SOURCE Global Innovation Dividend Fund