07:13:34 EDT Wed 15 May 2024
Enter Symbol
or Name
USA
CA



Calian Group Ltd
Symbol CGY
Shares Issued 11,825,150
Close 2023-08-17 C$ 51.61
Market Cap C$ 610,295,992
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Calian Group to buy back shares under NCIB

2023-08-18 10:42 ET - News Release

Mr. Kevin Ford reports

CALIAN ANNOUNCES INTENTION TO LAUNCH NORMAL COURSE ISSUER BID

Subject to the approval of the Toronto Stock Exchange (TSX), Calian Group Ltd. intends to launch a normal course issuer bid (NCIB) to purchase for cancellation up to 10 per cent of its public float of common shares. The company intends to file a notice of intention with the TSX in this regard.

"We believe that the market price of the Calian shares no longer reflects their underlying value, and significantly undervalues the company's future growth prospects. Accordingly, the company intends to put in place a[n] NCIB to facilitate the purchase of Calian shares to enhance shareholder value," said Kevin Ford, Calian's chief executive officer.

The NCIB is expected to commence after the TSX has accepted the notice and will continue for up to one year, unless earlier terminated. Subject to any required regulatory approvals, purchases under the NCIB may be made through the facilities of the TSX, and/or alternative Canadian trading platforms or by such other means as may be permitted by the applicable securities regulator, at prevailing market rates. The actual number of Calian shares purchased under the NCIB, and the timing of such purchases (if any), will be determined by management of the company, subject to applicable law and the rules of the TSX. Any Calian shares purchased by the company pursuant to the NCIB will be cancelled.

From time to time, when the company does not possess material non-public information about itself or its securities, it may enter into a predefined plan with its broker to allow for the repurchase of Calian shares at times when the company ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise. Any such plans entered into with the company's broker will be adopted in accordance with applicable laws.

About Calian Group Ltd.

Calian keeps the world moving forward. Calian helps people communicate, innovate, learn, and lead safe and healthy lives. Every day, Calian's employees live the company's values of customer commitment, integrity, innovation and teamwork to engineer reliable solutions that solve complex problems. That is confidence. Engineered. A stable and growing 40-year company, Calian is headquartered in Ottawa with offices and projects spanning North American, European and international markets.

We seek Safe Harbor.

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