Calian Technology Announces Final Results Of Issuer Bid

Thursday, December 6, 2001

Calian Technology Announces Final Results Of Issuer Bid

Kanata, Ontario, December 7, 2001 - Calian Technology Ltd (TSE.CTY) - Calian Technology Ltd. ("Calian") today announced the final results of its offer to purchase up to $5 million worth of its common shares. The offer expired on Friday, November 30, 2001. Calian confirmed that it will purchase for cancellation 1,785,714 common shares, or approximately 18.3% of its outstanding shares, at a purchase price per share of $2.80.


CIBC Mellon Trust Company, the depositary for the bid, reported that 1,799,156 common shares were deposited at the purchase price. Approximately 99% of each tender will be taken up. An additional 1,242 shares will be purchased by Calian for odd lots resulting from the pro-ration process, bringing the aggregate total of shares purchased to 1,786,956.


After the purchase of the shares by Calian, the number of common shares outstanding will be 7,987,745. Payment for shares will be made by December 12, 2001. Return of shares not purchased will be made as promptly as possible.


About Calian

Calian Technology Ltd. (TSE:CTY) sells systems engineering and staffing/outsourcing services to industry and government.

 

For further information, please contact:

Calian Technology Ltd.
Brian Aitken
Chief Financial Officer
Telephone: (613) 599-8600

 

 
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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. Such statements are generally accompanied by words such as "intend", "anticipate", "believe", "estimate", "expect" or similar statements. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; scarce number of qualified professionals; the impact of rapid technological and market change; loss of business or credit risk with major customers; technical risks on firm fixed price projects; general industry and market conditions and growth rates; international growth and global economic conditions, and including 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, please see the Company's most recent annual report and other 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. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them.


Information posted on this website was accurate at the time of posting, but may be superceded by subsequent information.
 

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