What do you all make of this? Good, bad or ugly? What is
the significance of them not being able to buy back the
units unless they are over NAV? I thought the idea of a
buy back was to support the stock price and, therefore, they
would have been buying on the lows. This stock, since it
came out, has had a hard time staying above its issue price.
rompton VIP to buy back units
Brompton VIP Income Trust VIP
Shares issued 9,902,545 Nov 4 close $9.97
Mon 4 Nov 2002 News Release
Mr. Don Lillie reports
BROMPTON VIP INCOME TRUST ANNOUNCES NORMAL COURSE ISSUER BID
As previously announced, and in accordance with the terms of the initial
public offering, Brompton VIP Income Trust intends to make a normal course
issuer bid through the facilities of the Toronto Stock Exchange to purchase
up to 926,000 units of VIP representing 10 per cent of the public float.
VIP had 9,902,545 trust units issued and outstanding as at Oct. 31, 2002.
The trust units may be purchased for cancellation commencing on Nov. 6,
2002, through to Nov. 5, 2003, through the facilities of the TSX and may
only be purchased when the net asset value per trust unit exceeds its
trading price. In such a situation, purchases will be accretive to
unitholders. |
