Calian Technology Announces Preliminary Results Of Issuer Bid

Monday, December 3, 2001

Calian Technology Announces Preliminary Results Of Issuer Bid

Kanata, Ontario, December 3, 2001 - Calian Technology Ltd (TSE.CTY) Calian Technology Ltd. ("Calian") today announced that the Corporation's offer to purchase up to $5 million worth of its common shares expired on Friday, November 30, 2001. Following the expiry of the bid, Calian announced on a preliminary basis that it is purchasing for cancellation 1,785,714 common shares, or approximately 18.3% of its outstanding shares, at a price per share of $2.80. All shareholders who tendered their shares at or below the purchase price will have approximately 99% of their shares bought back at the purchase price, except for those shareholders who would otherwise have returned to them an odd lot of shares. Such shareholders will have all of their shares purchased at the purchase price.


Calian and CIBC Mellon Trust Company, the depositary for the bid, expect the final purchase price, pro ration factor and exact number of shares to be taken up and paid for under the bid will be determined by December 7, 2001. Payment for shares tendered and accepted for purchase 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:


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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