|
LARRY O'BRIEN ACQUIRES ADDITIONAL SHARES OF CALIAN TECHNOLOGY Ltd.
Kanata, Ontario, August 12, 2002: Larry O'Brien, Chief Executive Officer of Calian Technology Ltd. announced today that he exercised 50,000 options or 0.6% of Calian Technology Ltd. ("Calian") common shares.
After the above noted purchase, Larry O'Brien and Cinnatek Corporation, a company wholly owned by Larry O'Brien have collective control over 980,861 shares (or 12.2%) of Calian's outstanding common shares. Of the foregoing, Cinnatek Corporation owns 764,069 shares and Larry O'Brien owns 216,792 shares of Calian.
The purchases have been made for investment purposes only and not with the purpose of influencing the control or direction of Calian. Cinnatek Corporation and/or Larry O'Brien may, subject to market conditions, make additional investments in or dispositions of securities of Calian Technology Ltd. in the future. This announcement is made in accordance with TSX regulations.
About Calian: Calian Technology Ltd. (TSX:CTY) provides systems engineering and staffing and outsourcing services to industry, government and major organizations in Canada, the United States and around the world. With two decades of success and over $125 million in annual revenues, Calian provides customers with ready access to an exceptional team of over 2,200 engineers, telecommunications and technology professionals, and other highly qualified staff. The Staffing and Outsourcing Services Division augments customer workforces with flexible short and long-term placements, recruitment and outsourcing of engineering 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.
For further information, please contact:
Larry O'Brien
Chief Executive Officer
Telephone: (613) 599-8600 ext. 271
Back to News Releases
|