Energy Income Fund Announces that the Maximum Number of Units
Redeemable for the 2012 Annual Redemption Has Been Reached
TORONTO, Oct. 18, 2012 /CNW/ - Crown Hill Capital
Corporation, the Manager and Trustee of Energy Income Fund (the
"Trust"), announced today that the Trust has purchased 752,700
units for cancellation under its Normal Course Issuer Bid program
between November 30, 2011 and
October 17, 2012. Pursuant to
subsection 6.25(7) of the Declaration of Trust, on an annual basis
the maximum number of Trust units redeemable in a year pursuant to
the Annual Redemption will be 10% of the Public Float of the Trust
as determined on the first business day of a calendar year less the
number of Trust units purchased for cancellation by the Trust
during the preceding twelve (12) month period (the "Maximum
Redemption Amount"). The public float as determined on January 3, 2012 was 7,437,656 units, therefore
10% of the public float was 743,766 units. The Maximum Redemption
Amount for the 2012 Annual Redemption on November 29, 2012 has been reached and therefore
there will be no additional units redeemable under the annual
redemption privilege for this year. The Trust provides
liquidity and market price support for unitholders through
purchases in the open market via normal course issuer bids rather
than through a redemption of units. The Trust will continue
to purchase units under the normal course issuer bid to provide
liquidity to unitholders.
Certain statements contained in this news release constitute
forward -looking information within the meaning of Canadian
securities laws. Forward-looking information may relate to matters
disclosed in this press release and to other matters identified in
public filings relating to the Fund, to the future outlook of the
Fund and anticipated events or results and may include statements
regarding the future financial performance of the Fund. In some
cases, forward-looking information can be identified by terms such
as "may", "will", "should", "expect", "plan", "anticipate",
"believe", "intend", "estimate", "predict", "potential", "continue"
or other similar expressions concerning matters that are not
historical facts. Actual results may vary from such forward-looking
information.
SOURCE Energy Income Fund