C.A. Bancorp Inc.

C.A. Bancorp Inc.

December 04, 2009 08:23 ET

C.A. Bancorp Inc. Responds to Announcement of Unsolicited Offer by Maxam

TORONTO, ONTARIO--(Marketwire - Dec. 4, 2009) - C.A. Bancorp Inc. ("C.A. Bancorp" or the "Company") (TSX:BKP) announces that Maxam Opportunities Fund Limited Partnership and Maxam Opportunities Fund (International) Limited Partnership (collectively "Maxam") issued a press release yesterday announcing Maxam's commencement of an all-cash offer, through an acquisition entity, to acquire all of the issued and outstanding shares of C.A. Bancorp at a price of $1.22 per share.

The closing trading price of C.A. Bancorp's shares on December 3, 2009 was $1.36 per share.

The Company's Board of Directors will consider the unsolicited offer when and if it is formally made.  The Board of Directors has undertaken steps to engage legal and financial advisors in connection with the offer.

The Company advises its shareholders not to deposit any shares of C.A. Bancorp to the Maxam offer when and if made and not to take any action concerning the proposed offer until C.A. Bancorp shareholders have received further communication from the Company's Board of Directors.

After receiving advice from its legal and financial advisors, the Company's Board of Directors will issue a Directors' circular concerning the Maxam offer. The Directors' circular will contain important information, including the Board of Directors' formal recommendation as to whether C.A. Bancorp's shareholders should reject or accept the offer.

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.

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.

C.A. Bancorp Inc.
The Exchange Tower
130 King Street West
Suite 2810, P.O. Box 104
Toronto, Ontario M5X 1A4
Telephone: (416) 214-5985
Fax: (416) 861-8166

Contact Information

  • C.A. Bancorp Inc.
    Paolo De Luca
    Chief Financial Officer
    416-861-8166 (FAX)