Calian Technologies Ltd.
TSX : CTY

Calian Technologies Ltd.

November 17, 2005 13:42 ET

Calian Technologies Ltd. Announces its Intention to Make a Normal Course Issuer Bid

KANATA, ONTARIO--(CCNMatthews - Nov. 17, 2005) - (All amounts in this release are in Canadian Dollars) - Calian Technologies Ltd. (TSX:CTY) today announced its intention to make a normal course issuer bid through the facilities of The Toronto Stock Exchange. Repurchases will not exceed 425,261 common shares, representing 5% of the 8,505,233 common shares currently outstanding as of November 17, 2005. The issuer bid will commence on November 21, 2005 and will not extend beyond November 20, 2006. In no event will Calian purchase in any given 30 day period during the course of the bid more than 2% of the common shares issued and outstanding as at the commencement of this bid.

The common shares may be repurchased on The Toronto Stock Exchange at market prices. Calian believes its common shares constitute an appropriate use of its general funds in order to increase shareholder equity. The current strong cash position of Calian allows Calian to implement the repurchase plan without adversely impacting Calian's operations. All common shares purchased by Calian will be canceled. In the past 12 months, Calian did not repurchase any common shares through a normal course issuer bid. To Calian's knowledge, after reasonable inquiry, none of the directors, officers or other insiders of Calian or any associate of any such persons, or any associate or affiliate of Calian currently intends to sell common shares to Calian during the course of the issuer bid.

About Calian

Calian sells technology services to industry and government in Canada and around the world. Calian provides customers with ready access to an exceptional team of engineers, telecommunications and technology professionals, health care professionals and other highly qualified staff. The Business and Technology Services Division augments customer workforces with flexible short and long-term placements, recruitment and outsourcing of engineering, health care professionals and other skilled professionals. The Systems Engineering Division plans, designs and implements solutions for many of the world's space agencies and leading communications satellite manufacturers and operators, as well as providing contract manufacturing services for customers in North America.

DISCLAIMER

Certain information included in press releases on this site is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; the dependence on new product development; the impact of rapid technological and market change; the ability of Calian to integrate the operations and technologies of acquired businesses in an effective manner; general industry and market conditions and growth rates; international growth and global economic conditions, particularly in emerging markets and including interest rate and currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, see the reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • Calian Technologies Ltd
    Ray Basler
    President and Chief Executive Officer
    (306) 931-3425
    or
    Calian Technologies Ltd
    Jacqueline Gauthier
    Chief Financial Officer
    (613) 599-8600
    ir@calian.com
    www.calian.com