TORONTO, April 8 /CNW/ - The Caldwell Partners International Inc.
("Caldwell") announced today that the Toronto Stock Exchange (the "TSX") has
accepted its notice of intention to conduct a normal course issuer bid to
enable it to purchase up to 626,000 of its Class A Non-Voting Shares ("Class A
Shares"), representing approximately five per cent of the approximately
12,523,423 Class A Shares outstanding as of March 31, 2009, pursuant to TSX
Purchases under the bid may commence on April 13, 2009, and will
terminate on the earlier of April 12, 2010, the date Caldwell completes its
purchases pursuant to the notice of intention to make a normal course issuer
bid filed with the TSX or the date of notice by Caldwell of termination of the
bid. Purchases will be made on the open market by Caldwell through the
facilities of the TSX in accordance with the rules and policies of the TSX.
The price that Caldwell will pay for any such shares will be the market price
of such shares on the TSX at the time of acquisition. Class A Shares purchased
under the bid will be cancelled.
Caldwell believes that the market price of its Class A Shares at certain
times may be attractive and that the purchase of Class A Shares from time to
time would be an appropriate use of corporate funds in light of potential
benefits to remaining shareholders.
Caldwell's purchase of shares during any trading day will not exceed
2,596 Class A Shares, representing 25 percent of the average daily trading
volume of the Class A 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 Caldwell's ability to make block purchases in
accordance with the TSX's facilities and rules.
Under its last normal course issuer bid, which took place during the 12
month period from November 15, 2007 to November 14, 2008, the Company has
repurchased 645,360 Class A Shares at an weighted average price of $1.071 per
Class A Share.
About The Caldwell Partners
The Caldwell Partners International Inc., founded in 1970, was Canada's
first executive search firm. Today the human capital services company serves
clients across Canada, in the United States, and internationally with offices
in Vancouver, San Francisco, Los Angeles, Calgary, Toronto, and Montreal. 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 calibre 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
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)