TORONTO, ONTARIO--(Marketwired - May 10, 2013) - Bloom Select Income Fund (the "Fund") (TSX:BLB.UN) announced today 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 516,641 Units of the Fund, representing approximately 10% of the public float of 5,166,413 Units as of the date hereof. The Fund will not purchase in any given 30-day period, in the aggregate, more than 105,452 Units, being 2% of the issued and outstanding Units of 5,272,606 as of the date hereof. Purchases of Units under the NCIB may commence on May 14, 2013. Bloom Investment Counsel, Inc., 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 resources. All purchases will be made through the facilities of the TSX in accordance with its rules and policies. All Units purchased by the Fund pursuant to the NCIB will be cancelled. The NCIB will expire on May 13, 2014.
On May 10, 2012, the Fund announced that it was making a Normal Course Issuer Bid, which commenced May 14, 2012, to purchase up to 537,281 units through the facilities of the TSX. The Fund repurchased 221,800 Units at a weighted average price of $9.03 per unit under the bid, which expires on May 13, 2013.