TSX Symbol: HYB.UN
TORONTO, Dec. 13, 2016 /CNW/ - DDJ High Yield Fund (the
"Fund") intends to purchase for cancellation up to 291,622 of its
Trust Units by way of a normal course issuer bid through the
facilities of The Toronto Stock Exchange. The 291,622 Trust
Units represent 10% of the public float of the Fund being 2,916,229
Trust Units as at December 1,
2016. The number of issued and outstanding Trust Units as at
December 1, 2016 was 2,916,229.
The Fund will not purchase in any given 30 day period, in the
aggregate more than 58,324 Trust Units, being 2% of the issued and
outstanding Trust Units as at December 1,
2016.
The purchases may commence on December
16, 2016 and will terminate on December 15, 2017, or on such earlier date as the
Fund may complete its purchases pursuant to a notice of intention
filed with The Toronto Stock Exchange or provide notice of
termination. Any such purchases will be made by the Fund at
the prevailing market price at the time of such purchases in
accordance with the requirements of The Toronto Stock Exchange.
Pursuant to the Amended and Restated Trust Agreement governing
the Fund, the Fund may only repurchase Trust Units at a price which
is less than 90% of the most recently determined Net Asset Value
per Trust Unit. If the Trust Units are trading at more than a
10% discount to the Net Asset Value per Trust Unit, the Manager of
the Fund believes that it would be in the best interests of the
Fund and the holders of the Trust Units to purchase Trust Units in
the market.
In the last 12 months under its previous normal course issuer
bid, the Fund purchased 21,200 of its Trust Units at an average
weighted price of $8.92 per Trust
Unit.
SOURCE CI Financial Corp.