TORONTO, June 25, 2014 /CNW/ - Retained executive search firm The
Caldwell Partners International Inc. (TSX: CWL) announced today that
the Toronto Stock Exchange (TSX) has accepted the company's Notice of
Intention to purchase through a normal course issuer bid (NCIB) up to
1,050,008 of its common shares, representing approximately 5% of the
21,000,155 shares outstanding as at June 25, 2014 (the "Notice").
The NCIB commences on June 27, 2014 and will end on the earlier of June
26, 2015, the date that the Company completes the purchase of the total
number of shares permitted under the notice, or the date of a notice by
the Company that it is terminating the NCIB. The Company may purchase
its shares, from time to time, if it believes that the market price of
the shares is attractive and that the purchase would be an appropriate
use of corporate funds and in the best interests of the Company. Any
shares purchased by the Company under the NCIB will be effected through
the facilities of the TSX at the prevailing market price at the time of
the purchase. All shares purchased under the NCIB will be cancelled.
The Company's purchase of shares during any trading day will not exceed
3,409 shares, representing approximately 25% of the average daily
trading volume of the shares based on the number of shares traded
during the most recently completed six calendar months preceding the
filing of the Notice, and subject to the Company's ability to make
block purchases in accordance with the TSX's facilities and rules.
Under its previous normal course issuer bid that expired on June 6,
2014, the Company had not repurchased any of its common shares.
The Company believes that the market price of its common shares could be
such that their purchase may be an attractive and appropriate use of
corporate funds in light of potential benefits to remaining
The Company has appointed CIBC World Markets as trustee for the purposes
of arranging for the acquisition of the shares.
A copy of the Company's Notice filed with the TSX may be obtained, by
any shareholder without charge, by contacting the Company's corporate
About Caldwell Partners
Caldwell Partners is one of North America's premier providers of
executive search and has been for more than 40 years. As one of the
region's most trusted advisors in executive search, the firm has a
sterling reputation built on successful searches for boards, chief and
senior executives, and selected functional experts. With offices and
partners across North America, and a strategic presence in London and
Hong Kong, the firm takes pride in delivering an unmatched level of
service and expertise to its clients.
The Caldwell Partners' Common shares are listed on The Toronto Stock
Exchange (TSX: CWL). Please visit our website at www.caldwellpartners.com for further information.
Forward-looking statements in this document are based on current
expectations that are subject to significant risks and uncertainties.
We use words such as "may", "would", "could", "should", "will",
"likely", "expect", "anticipate", "believe", "intend", "plan",
"forecast", "outlook", "project", "estimate" and similar expressions
suggesting future outcomes or events to identify forward-looking
statements. Actual results might differ materially due to various
factors such as the competitive nature of the executive search
industry, the ability of the company to execute its growth strategies,
the performance of the Canadian domestic and international economies,
and the company's ability to retain key personnel. We have made certain
assumptions about the forward-looking statements and information,
including the ability to acquire shares in the market through the bid
and in compliance with regulatory requirements. The Company assumes no
obligation to update the forward-looking statements, or to update the
reasons why actual results could differ from those reflected in the
SOURCE: The Caldwell Partners International Inc.
For further information:
Chief Financial Officer
The Caldwell Partners International
+1 617 934 1843