MYDAS Fund
TSX : MYF.UN

MYDAS Fund

October 04, 2005 13:03 ET

MYDAS Fund: Notice of Intention to Purchase Units

CALGARY, ALBERTA--(CCNMatthews - Oct. 4, 2005) - MYDAS Fund (TSX:MYF.UN) announces that it has filed with the Toronto Stock Exchange a notice of intention to make normal course purchases of its Units. The TSX has accepted the notice.

Under this normal course issuer bid the Fund may purchase up to 960,175 of the Units of the Fund, representing 10% of the public float of the Fund, which is the same number as the Fund's outstanding Units, being 9,601,759 as at October 3, 2005. Purchases of Units will commence on October 6, 2005 and will terminate on October 5, 2006, or on such earlier date as the Fund may complete its purchases pursuant to the Notice. 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 Units will be the market price of such Units at the time of acquisition. Units purchased will be cancelled.

The normal course issuer bid will supplement the Fund's mandatory repurchase program under which the Fund is required to repurchase Units of the Fund that are offered for sale at a price that is less than 95% of the Fund's net asset value per Unit. The mandatory repurchase program is limited to a maximum of 1.25% of the outstanding Units of the Fund per fiscal quarter.

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 Units under this bid.

Contact Information

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