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.
Calian Technology Ltd. (TSE:CTY) sells systems engineering and staffing/outsourcing services to industry and government.
For further information, please contact:
Calian Technology Ltd.
Chief Financial Officer
Telephone: (613) 599-8600
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