Reject the Maxam Offer
The Board of Directors of C.A. Bancorp Inc. recommends that C.A. Bancorp shareholders REJECT and NOT tender their shares to the hostile Maxam offer to purchase all of the issued and outstanding Common Shares of C.A. Bancorp Inc. for $1.22 per share.
After careful review and analysis of the hostile offer, the Board concluded that the Maxam offer is inadequate and does NOT reflect the full value of C.A. Bancorp’s assets and business.
Shareholders are not required to do anything in order to reject the Maxam bid. Shareholders who have already tendered their shares to the bid can still cancel the transaction by contacting their broker prior to January 12, 2010.