DATA Group to buy back up to C$2.83 million 6.75% convertibles

By Angela McDaniels

Tacoma, Wash., Feb. 12 - DATA Group Income Fund plans to purchase up to C$2.83 million of its outstanding 6.75% extendible convertible unsecured subordinated debentures between Feb. 18 and Feb. 17, 2010, according to a company news release.

The convertibles will be purchased at market prices through a normal course issuer bid.

The maximum purchase amount represents 10% of the public float of the convertibles outstanding as of Feb. 3.

Through March 31, the maximum daily purchase of convertibles allowed under the normal course issuer bid is the greater of (i) 50% of the average daily trading volume of convertibles, or C$21,084 principal amount, and (ii) one convertible.

After March 31, the maximum daily purchase will be the greater of (i) 25% of the average daily trading volume of convertibles, or C$10,542 principal amount, and (ii) one convertible.

Convertibles purchased under the bid will be cancelled.

Brampton, Ont.-based DATA Group Income Fund owns a 100% interest in DATA Group LP, which provides document management solutions.

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