C.A. Bancorp Provides Update on its Strategic Process
C.A. Bancorp Inc. (TSX: BKP) (“C.A. Bancorp” or the “Company”) reaffirms its commitment to its previously announced strategic review process. Although the process was initiated in response to the hostile take-over bid by Maxam Acquisition Corporation (“Maxam”), and Maxam has advised the Company that its offer would not be extended and therefore lapsed today, the Company will continue to pursue value maximizing alternatives.
As earlier disclosed, the Company is in advanced discussions with a number of interested third parties which have proposed transactions at values in excess of Maxam’s expired offer, and the Company is also considering other alternatives which could yield values superior to Maxam’s expired offer.
The Company will update shareholders further regarding its strategic review process as appropriate. There can be no assurance that the process will result in any alternative transaction.
For Investor Questions
Shareholders who have questions may contact the Company’s information agent, Kingsdale Shareholder Services Inc., toll free at 1-888-518-1556, or by e-mail at contactus@kingsdaleshareholder.com.
C.A. Bancorp Inc.
C.A. Bancorp is a publicly traded Canadian merchant bank and alternative asset manager that provides investors with access to a range of private equity and other alternative asset class investment opportunities. C.A. Bancorp is focused on investments in small- and middle-capitalization public and private companies, with emphasis on the industrials, real estate, infrastructure and financial services sectors.
More information
Paolo De Luca, Chief Financial Officer
Tel: 1-866-388-5985
Fax: 416-861-8166
This news release contains forward-looking statements. These statements relate to anticipated future events, results, circumstances, performance or expectations that are not historical facts but instead represent C.A. Bancorp’s beliefs regarding future events. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. These cautionary statements qualify all forward-looking statements attributable to C.A. Bancorp and persons acting on its behalf relating to the subject matter of this press release. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release. C.A. Bancorp does not undertake, and specifically disclaims, any intention or obligation to update or revise any of such forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.