TORONTO, ONTARIO -- (Marketwired) -- 09/09/13 -- C.A. Bancorp Inc. ("C.A. Bancorp" or the "Company") (TSX: BKP) announced today that the Toronto Stock Exchange has approved its notice of intention to make a normal course issuer bid for up to 613,464 of its common shares ("Common Shares"), or approximately 5% of its 12,269,280 outstanding Common Shares as of the date hereof. The Company may purchase Common Shares at prevailing market prices during the period from September 11, 2013 to September 10, 2014. Purchases will be made at market prices in accordance with the rules and policies of the Toronto Stock Exchange. Daily purchases will be limited to 1,000 Common Shares, other than block purchase exceptions and will be made through the facilities of the TSX. All Common Shares purchased by C.A. Bancorp under the normal course issuer bid will be cancelled.
C.A. Bancorp believes that, from time to time, the market price of its Common Shares may not reflect their underlying value and that the purchase of its Common Shares may represent an appropriate and desirable use of Company funds. C.A. Bancorp intends to fund the purchases out of available cash.
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 Inc.
Most Popular Stories
- Cape Cod Building Mussel Industry
- Hollywood Eager to Grasp Hispanic Market
- Frightfully Fun Films Return for Halloween
- Would Soccer Be Richer Without Small Clubs?
- Sears Denies Store Closings, Layoffs Report
- Cloud Lifts Microsoft's Quarterly Results
- Weekly Jobless Claims Rise but Remain Low
- IS Funded by Black Market Oil Sales, Racketeering
- Pfizer Approves $11 Billion Buyback Plan
- Microsoft Beats Income Expectations