TORONTO, Nov. 14 /CNW/ - The Caldwell Partners International Inc. (TSX:
CWL.A), Canada's first, largest, and only truly national human capital
services firm, today announced that the Toronto Stock Exchange has accepted
the company's Notice of Intention to purchase through a normal course issuer
bid up to 658,439 of its Class A Non-Voting Shares, representing approximately
five percent of the 13,168,783 Class A shares outstanding as at October 31,
The purchases to be made from time to time on the open market through the
TSX may commence on November 15, 2007 and will end on the earlier of November
14, 2008, the date that The Caldwell Partners 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 bid. The company will pay the
prevailing TSX prices for the shares at the time of any purchases. Purchased
shares will be cancelled.
The company's purchase of shares during any trading day will not exceed
2,037 shares, representing 25 percent 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 of Intention,
and subject to The Caldwell Partners' ability to make block purchases in
accordance with the TSX's facilities and rules.
"We believe that our company's shares are not trading at a price that
reflects the value of The Caldwell Partners," said C. Douglas Caldwell, Chief
Executive Officer. "Our Board therefore determined that repurchasing shares
would be an attractive investment opportunity for a portion of our cash and is
consistent with our goal of creating additional value for our shareholders."
About The Caldwell Partners
The Caldwell Partners International Inc., founded in 1970, was Canada's
first executive search firm. Today it is the largest and only truly national
human capital services company, serving clients across Canada from its offices
in Halifax, Montreal, Ottawa, Toronto, Calgary, and Vancouver, as well as
internationally. The Caldwell Partners focuses, in particular, on recruiting
"C-class" executives (chief executive, chief financial, chief information
officers, as well as other senior executives). The Caldwell Partners takes
pride in delivering unmatched depth of service and expertise to its clients,
the caliber and experience of its staff, and the successful completion of its
engagements. The Caldwell Partners founded and continues to promote the
prestigious national awards programs recognizing Canada's Outstanding CEO of
the Year(TM) and Canada's Top 40 Under 40(TM), and advises and supports the
Canada's CFO of the Year Award(TM) program. In 2007, the Canada's Outstanding
CEO of the Year(TM) and Canada's Top 40 Under 40(TM) programs marked their
respective 19th and 14th anniversaries.
The Caldwell Partners' Class-A non-voting shares are listed on The
Toronto Stock Exchange (TSX: CWL.A). Please visit our website at
www.caldwell.ca for further information.
Forward-looking statements in this document are based on current
expectations that are subject to significant risks and uncertainties. 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.
The Caldwell Partners assumes no obligation to update the forward-looking
statements, or to update the reasons why actual results could differ from
those reflected in the forward-looking statements.
For further information:
For further information: Richard W. Wertheim, Wertheim + Company Inc.,
email@example.com, (416) 594-1600, (416) 518-8479 (cell)