VANCOUVER, Sept. 19 /CNW/ - Canaccord Capital Inc. ("CCI" or the
"Company") welcomes the Supreme Court of Canada's decision not to grant leave
to appeal the Canadian Asset-Backed Commercial Paper (ABCP) restructuring
plan. This ruling completes the court process, paving the way for the
execution of the restructuring transaction and the Canaccord Relief Program.
"We commend the Supreme Court's decision," said Paul Reynolds, President
and CEO. "We are eager to complete our relief program and restore funds to our
clients, who have been negatively impacted by this market disruption. We
expect timelines for this process to be announced in the coming days."
The Canaccord Relief Program combines the resale of restructured ABCP
notes to credible purchasers with a Canaccord-funded top-up to achieve par
value. Eligible clients - those holding an aggregate of $1 million or less of
ABCP - will remain entitled to receive any unpaid interest pursuant to the
Pan-Canadian Investor Committee Plan and will be reimbursed by Canaccord for
their share of any restructuring costs.
ABOUT CANACCORD CAPITAL INC.:
Through its principal subsidiaries, Canaccord Capital Inc. (TSX & AIM:
CCI) is a leading independent, full-service investment dealer in Canada with
capital markets operations in the United Kingdom and the United States.
Canaccord is publicly traded on both the Toronto Stock Exchange and AIM, a
market operated by the London Stock Exchange. Canaccord has operations in two
of the principal segments of the securities industry: capital markets and
private client services. Together, these operations offer a wide range of
complementary investment products, brokerage services and investment banking
services to Canaccord's private, institutional and corporate clients.
Canaccord has approximately 1,698 employees worldwide in 30 offices, including
23 Private Client Services offices located across Canada. Canaccord Adams, the
international capital markets division, has operations in Toronto, London,
Boston, Vancouver, New York, Calgary, Montreal, San Francisco, Houston, and
For further information:
For further information: North America Media: Scott Davidson, Managing
Director, Global Head of Marketing & Communications, Phone: (416) 869-3875,
email: firstname.lastname@example.org; For investor relations inquiries contact:
Katherine Young, Vice President, Investor Relations, Phone: (416) 869-7292,
email: email@example.com; London Media: Bobby Morse or Ben Willey,
Buchanan Communications (London), Phone: +44 (0) 207 466 5000, email:
firstname.lastname@example.org; Nominated Adviser and Broker: Tom Hulme or Simon
Bridges, Landsbanki Securities (UK) Limited, Phone: +44-0-207-426-9000, email: