MIDDLEFIELD AMERICAN CORE DIVIDEND ETF American Core Sectors Dividend Fund (TSX:ACZ.UN) announces a share repurchase program. Under the program, the company will repurchase up to 251,913 shares, representing 9.99% of its issued share capital and 10% of its public float. Purchases pursuant to the bid will be made in the open market through the facilities of the TSX.
The Fund will cancel all units purchased pursuant to the bid. The Fund may not, in any 30 day period, purchase more than 50,382 units, being 2% of the units issued and outstanding. 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 bid will commence on January 7, 2016 and will terminate on January 6, 2017. As of December 24, 2015, the fund had 2,519,139 shares issued and outstanding.
