ATS Andlauer Income Fund
TSX : ATS.UN

ATS Andlauer Income Fund

January 15, 2007 11:33 ET

ATS Andlauer Income Fund Announces Normal Course Issuer Bid for its Trust Units

ETOBICOKE, ONTARIO--(CCNMatthews - Jan. 15, 2007) - ATS Andlauer Income Fund ("ATS Andlauer") (TSX:ATS.UN) announced today that the Toronto Stock Exchange ("TSX") has accepted ATS Andlauer's Notice of Intention to make a Normal Course Issuer Bid (the "Bid") to purchase for cancellation, from time to time, as ATS Andlauer considers advisable, up to a maximum of 871,436 of ATS Andlauer's issued and outstanding trust units ("Trust Units"). Purchases of Trust Units will be made on the open market through the TSX. There are currently 9,324,200 Trust Units outstanding. The maximum number of Trust Units to be purchased pursuant to the Bid represents approximately 10% of the "public float" of the Trust Units outstanding on the date hereof, calculated in accordance with the rules of the TSX (being approximately 8,714,362 Trust Units). The price which ATS Andlauer will pay for any Trust Units purchased by it will be the prevailing market price of the Trust Units on the TSX at the time of such purchase. The actual number of Trust Units that may be purchased for cancellation and the timing of any such purchases will be determined by ATS Andlauer.

The Bid will commence on January 17, 2007 and will terminate on January 16, 2008 or such earlier time as the Bid is completed or terminated at the option of ATS Andlauer. Management of ATS Andlauer believes that, from time to time, the market price of the Trust Units may not fully reflect the underlying value of the Trust Units and that at such times the purchase of Trust Units would be in the best interests of ATS Andlauer. Such purchases will increase the proportionate interest of, and may be advantageous to, all remaining unitholders. In addition, the purchases by ATS Andlauer may increase liquidity to ATS Andlauer's unitholders wishing to sell their Trust Units.

ATS Andlauer has not made any purchases of Trust Units during the previous 12 months.

ATS Andlauer is an open-ended trust that holds, indirectly, securities of ATS Andlauer Transportation Services Limited Partnership ("ATS Andlauer LP"). ATS Andlauer LP is a leading single source transportation solutions provider in Canada, providing integrated trucking, courier, air freight and value added transportation and distribution services to consumer product companies. It operates facilities in 23 centres across Canada and serves approximately 1,400 diversified customers.

ATS Andlauer's Trust Units trade on the TSX under the symbol ATS.UN.

Additional information relating to ATS Andlauer, including all public filings, is available on www.sedar.com.

Contact Information

  • ATS Andlauer Transportation Services GP Inc.
    Michael Andlauer
    President & Chief Executive Officer
    (416) 798-1379 ext 200
    or
    ATS Andlauer Transportation Services GP Inc.
    Brian Mascarenhas
    VP Finance & Chief Financial Officer
    (416) 798-1379 ext 200