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
- NSA Defends Global Cellphone Tracking Legality
- Ad Counts Rise in 2013 for Hispanic Magazines
- Top Websites for U.S. Hispanics
- Networks Vie for U.S. Hispanic TV Viewers
- Saab Gets Back into the Game; U.S. Auto Sales Soar
- Apple Activates Customer-Tracking iBeacon
- Dell Offers Undisclosed Number of Employee Buyouts
- 2013 Tech Gift Guide: iPad Mini Still Hot; Chromecast a Great Low-Cost Option
- A Biography of Jonathan Ive, Apple's Creative Chief
- Authorities Close to Deal with JPMorgan Chase over Madoff Response