Supremex Inc.
TSX : SXP

Supremex Inc.

November 18, 2008 16:30 ET

Supremex Income Fund Announces Normal Course Issuer Bid

MONTREAL, QUEBEC, CANADA--(Marketwire - Nov. 18, 2008) - SUPREMEX INCOME FUND (the "Fund") (TSX:SXP.UN) announced today that it has the intention to purchase by way of a normal course issuer bid (the "Bid"), for cancellation purposes, some of its Units through the facilities of the Toronto Stock Exchange, beginning on November 21, 2008.

Under the Bid, the Fund intends to repurchase for cancellation up to 1,800,000 Units. This represents approximately 9.4 % of its public float of 19,077,367 Units as of November 18, 2008. At the same date, 29,311,667 Units were outstanding. The average daily trading volume of the Fund's Units over the most recently completed six (6) calendar months was 40,651. Accordingly, the Fund is entitled to purchase, on any trading day, up to 10,162 Units. These purchases will be made in accordance with applicable regulations over a maximum period of 12 months beginning on November 21, 2008 and ending on November 20, 2009. The consideration, which will be in cash, that the Fund will pay for any Units acquired by it under the Bid will be the market price of such Units at the time of acquisition. Within the previous twelve months, the Fund did purchase 2,000,000 of its Units under the normal course issuer bid established in November 2007 and the weighted average price paid was $5.88 per Unit.

The Fund believes that the purchase of its own Units may, in appropriate circumstances, be a responsible investment of funds on hand.

ABOUT SUPREMEX INCOME FUND

The Fund is Canada's largest manufacturer and marketer of a broad range of stock and custom envelopes and related products. Supremex is the only national envelope manufacturer in Canada, with facilities in seven provinces and employs approximately 800 people. This nationwide presence enables it to manufacture products tailored to the specifications of major national customers such as leading Canadian corporations, national resellers and governmental entities, as well as paper merchants and process and solutions providers.

Contact Information

  • Supremex Income Fund
    Stephane Lavigne, CA
    Vice-President and Chief Financial Officer
    514-595-0555