Manulife Investments announced today that the Manulife U.S. Regional Bank Trust (the Fund ), a closed-end investment fund, received 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 970,000 Class A Units of the Fund, representing 10 per cent of the public float which is the same number as the Fund s issued and outstanding Class A Units, being 9,700,000 Class A Units as of the close of business on August 18, 2014. The Fund will not purchase in any given 30-day period, in the aggregate, more than 194,000 Class A Units, being 2 per cent of the issued and outstanding Class A Units as of the close of business on August 18, 2014. Purchases of Class A Units under the NCIB may commence on August 27, 2014. Manulife Asset Management Limited, 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 assets. All purchases will be made through the facilities of the TSX in accordance with its rules and policies. All Class A Units purchased by the Fund pursuant to the NCIB will be cancelled. The NCIB will expire on August 26, 2015.
Manulife Investments, a division of Manulife Asset Management Limited, builds on 125 years of Manulife Financial's wealth and investment management expertise in managing assets for Canadian investors. As one of Canada's leading integrated financial services providers, Manulife Investments offers a variety of products and services including segregated fund contracts, mutual funds, annuities and guaranteed interest contracts.