C.A. Bancorp Inc.

C.A. Bancorp Inc.

November 08, 2005 18:37 ET

Requisitioning Shareholders' Meeting to Remove the Directors of Tiverton Petroleums Ltd.

TORONTO, ONTARIO--(CCNMatthews - Nov. 8, 2005) - C.A. Bancorp Inc. wishes to announce that the directors of Tiverton Petroleums Ltd. ("Tiverton") have been requisitioned to call a special meeting of its shareholders for the purposes of removing the current board of directors and electing John F. Driscoll, Bert Alfaro, John Shiry and Mark Gardhouse as directors. C.A. Bancorp, along with another shareholder, believes that the current board of directors and management of Tiverton have not managed its business effectively and have not enhanced shareholder value.

C.A. Bancorp believes that with a new board of directors, new management can be hired with a view to strengthening Tiverton's financial position, grow the company and increase shareholder value.

John F. Driscoll, CFA, is the founding President, Chairman and Chief Executive Officer of Sentry Select Capital Corp. He also founded and has been Chairman of NCE Resources Group since 1984, and Chairman and founder of Petrofund Energy Trust since 1988. He has been Chairman of Inter Pipeline Fund and Strategic Energy Fund since October 2002 and May 2002 respectively. He is also Chairman and founder of Endev Energy, a successful junior oil and gas exploration and production company, since 2002. Mr. Driscoll has been President, since 1981, of J.F. Driscoll Investment Corp., a company specializing in investment management and related advisory and consulting services. Mr. Driscoll received his Bachelor of Science degree from the Boston College Business School and attended the New York Institute of Finance for advanced business studies. He has more than 30 years of diversified business experience. He is a member of the CFA Institute (formerly the Association for Investment Management and Research) and also attained the professional manager designation with the Canadian Institute of Management. He has founded numerous public partnerships as well as public and private energy and investment related companies. During the last 20 years, issuers of which Mr. Driscoll was chairman or Chief Executive Officer have invested or managed the investment of more than $8 billion.

H. (Bert) Alfaro is a registered professional engineer (APEGGA). Prior to October 1991 he was employed by Home Oil Company Limited for over 38 years, holding a variety of senior positions including, lastly, Director and Vice-President of Production. In that position, he supervised over 500 people and was responsible for exercising functional control over the engineering, operations, drilling, pipelines, liquids and natural gas marketing and production analysis departments. For the past ten years he has been President of H. Alfaro & Associates Ltd., a petroleum consulting company and a director of several companies in the energy sector.

John Shiry is the President of Woodside Research Ltd., a consulting firm specializing in corporate and sectoral studies of the Canadian oil and gas industry for governments and corporate clients. Mr. Shiry founded Woodside Research Ltd. in 1985. Woodside Research Ltd. maintains The CANOILS Database®, a comprehensive electronic source of corporate information for the Canadian oil and gas industry. Mr. Shiry received a Doctorate Degree in Political Studies from Queen's University and is well known as an energy industry analyst, commentator and author.

Mark Gardhouse is the President of C.A. Bancorp Inc. and has over 20 years experience in merchant banking, venture capital and corporate finance. Mark has a degree in economics from the University of Toronto and a Masters of Business Administration from the Ivey School of Business at the University of Western Ontario.

C.A. Bancorp specializes in merchant banking transactions in the Canadian mid-market sector, including private equity investments, buyouts, going private transactions and other investment opportunities.

The Exchange Tower
130 King Street West
Suite 2850, P.O. Box 104
Toronto, Ontario M5X 1A4

Contact Information

  • C.A. Bancorp Inc.
    Mark Gardhouse
    (416) 214-5985 ext. 495