REIT INDEXPLUS Income Fund (TSX:IDR.UN) announces a share repurchase program. Under the program, the company will repurchase up to 703,159 shares, representing 10% of the public float. The company will purchase its shares through the facilities of the Toronto Stock Exchange. All shares repurchased will be held in treasury for resale. The company may not, in any 30-day period, purchase more than 140,795 units, being 2% of the shares issued and outstanding. The company believes that the repurchase is in the best interest of the fund and is a desirable use of its available funds. The repurchase will commence on May 18, 2015 and will run until May 17, 2016. As at May 5, 2015, the company had 7,039,790 shares issued and outstanding.
On May 13, 2015, the company received approval from the Toronto Stock Exhange to make the share repurchase.