TORONTO, ONTARIO--(Marketwired - Oct. 12, 2016) - (TSX:HIG.UN) Global Healthcare Income & Growth Fund (the "Fund") has received approval for a normal course issuer bid to purchase up to 601,900 units (the "Units") of the Fund representing appropriately 10% of the public float of 6,019,598 Units. The Fund may purchase up to 121,391 Units in any 30 day period which is 2% of the 6,069,598 issued and outstanding Units at October 5, 2016.
As of October 5, 2016, the Fund had purchased 481,200 units under its previous bid at an average price of $8.70 per unit.
The Units may be purchased for cancellation from October 17, 2016 to October 16, 2017 through the facilities of the TSX or other alternative Canadian trading system and may only be purchased at a price per Unit not exceeding the last published net asset value per Unit. The Fund believes that such purchases are in its best interests and are a desirable use of its available funds.
About Brompton Funds
Brompton Funds, a division of Brompton Group which was founded in 2000, is an experienced investment fund manager with approximately $2 billion in assets under management. Brompton's investment solutions include TSX listed closed-end funds, mutual funds, hedge funds and flow-through limited partnerships. For further information, please contact your investment advisor, call Brompton's investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email firstname.lastname@example.org or visit our website at www.bromptongroup.com.
You will usually pay brokerage fees to your dealer if you purchase or sell units of the Fund on the Toronto Stock Exchange or other alternative Canadian trading system (an "exchange"). If the units are purchased or sold on an exchange, investors may pay more than the current net asset value when buying units of the Fund and may receive less than the current net asset value when selling them.
There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the Fund. You can find more detailed information about the Fund in the public filings available at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this news release and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.