Citadel HYTES Fund
TSX : CHF.UN

Citadel HYTES Fund

December 14, 2007 11:00 ET

Citadel HYTES Fund Notice of Intention to Purchase Units

CALGARY, ALBERTA--(Marketwire - Dec. 14, 2007) - Citadel HYTES Fund (the "Fund") (TSX:CHF.UN) announces that it has filed with the Toronto Stock Exchange (the "TSX") a notice of intention (the "Notice") to make normal course purchases of its trust units (the "Trust Units"). The TSX has accepted the Notice.

Under this normal course issuer bid ("NCIB") the Fund may purchase up to 973,725 of the Trust Units of the Fund, representing 10% of the public float of the Fund, being 9,737,253 as at December 5, 2007. The number of issued and outstanding Trust Units as at December 5, 2007 was 10,201,183. Purchases of Trust Units will commence on December 18, 2007 and will terminate on December 17, 2008, or on such earlier date as the Fund may complete its purchases pursuant to the Notice. The Fund will not purchase more than 204,024 Trust Units in any particular 30 day period. Purchases will be made in the open market through the facilities of the TSX in accordance with its rules and policies. The price that the Fund will pay for any such Trust Units will be the market price of such Trust Units at the time of acquisition. The Trust Units purchased under the NCIB will be cancelled.

The NCIB is being undertaken in order to increase the liquidity of the Trust Units and to enhance the Net Asset Value of the remaining Trust Units.

To the knowledge of the administrator of the Fund, no director, officer or other insider of the administrator or the Fund intends at present to sell any Trust Units under this NCIB.

Contact Information

  • Citadel HYTES Fund
    Joe MacDonald
    Executive Vice President, Sales and Marketing
    1-877-261-9674
    Website: www.citadelfunds.com