LONDON, ON, July 11 /CNW/ - Pacific & Western Credit Corp. (TSX:PWC), on
behalf of Donald Crich, announced today that Mr. Crich, a long time supporter
and shareholder of PWC, acquired a total of 50,200 common shares of PWC
between July 7 and July 10, 2008, at prices of $4.75 and $5.00. As a result,
Mr. Crich currently holds 1,413,673 common shares of PWC, being approximately
10.35% of the total issued and outstanding common shares of PWC.
Mr. Crich stated that, "I am pleased with the Bank's risk averse model
and am confident that David Taylor and his management team will continue to
profitably grow the Bank. I believe that, at current prices, these shares
represent an attractive investment and I intend to increase my shareholdings
as opportunities present themselves."
Pacific & Western Credit Corp. operates primarily through its
wholly-owned subsidiary, Pacific & Western Bank of Canada, a Schedule 1
chartered bank. The Bank is a branchless financial institution with $1.3
billion in assets. The Bank was formed to provide innovative financing to
large corporate and government entities including hospitals, school boards,
universities and colleges, municipalities and provincial and federal
government agencies. With no retail operations or store fronts, the Bank is
one of the most efficiently operating financial institutions in Canada. These
overhead savings translate into very competitive rates for our clients.
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