C.A. Bancorp Inc.

C.A. Bancorp Inc.

August 14, 2008 15:10 ET

C.A. Bancorp Inc. (TSX:BKP) Announces Intention to Make Normal Course Issuer Bid

TORONTO, ONTARIO--(Marketwire - Aug. 14, 2008) - C.A. Bancorp Inc. (TSX:BKP) (the "Corporation"), announced today that it intends to purchase up to 2,380,853 of the common shares of the Corporation (the "Shares") for cancellation by way of a normal course issuer bid through the facilities of The Toronto Stock Exchange (the "TSX"). The 2,380,853 Shares represent approximately 10% of the public float of the Corporation. As of August 13, 2008, 27,778,173 Shares are issued and outstanding. The public float of 23,808,530 Shares has been calculated as the currently issued and outstanding Shares, excluding those Shares that are owned and controlled by the Corporation, the principal security holders of the Corporation or the directors and senior officers of the Corporation and excluding those Shares that are pooled, escrowed or non-transferable.

The purchases may commence on August 18, 2008 and will terminate on August 17, 2009, or on such earlier date as the Corporation may complete its purchase or provide notice of termination. Any such purchases will be made by the Corporation at the prevailing market price at the time of such purchases in accordance with the requirements of the TSX.

The Corporation will not make purchases of Shares at greater than book value. Purchases of Shares at less than book value per Share should have the effect of increasing the book value per Share. All purchased Shares will be cancelled.

The Corporation will not purchase in any trading day more than 6,299 Shares, being the greater of (i) 25% of the average daily trading volume of the Shares and (ii) 1,000 Shares.

In the 12 months preceding the date of this release, the Corporation has purchased for cancellation 888,100 Shares pursuant to a normal course issuer bid at an average price of $1.86, and 466,100 Shares pursuant to a mandatory market purchase plan at an average price of $1.53.

To the knowledge of the Corporation, no director, senior officer or other insider of the Corporation intends at present to sell any Shares under this bid. However, sales by such persons through the facilities of the TSX or elsewhere may occur if the circumstances or decisions of any such person change. The benefits to any such person whose Shares are purchased would be the same as the benefits available to all other holders whose Shares are purchased.

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.

Certain statements included in this news release constitute forward looking statements including statements identified by the words "plan", "will", "intend" and "should" and similar expressions or the negative thereof. The forward looking statements are not historical facts but reflect the Corporation current expectations regarding future results or events. These forward looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations including but not limited to the effect of the repurchasing of shares on the Corporation's net book value. Readers are cautioned not to place undue reliance on forward-looking information. The Corporation undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information except as required by 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.
    Mark Gardhouse
    (416) 861-8166 (FAX)
    C.A. Bancorp Inc.
    Paolo De Luca
    Chief Financial Officer
    (416) 861-8166 (FAX)
    Email: info@cabancorp.com
    Website: www.cabancorp.com