Retained executive search firm The Caldwell Partners International Inc. (CWL.TO) said Wednesday that the Toronto Stock Exchange has accepted its Notice of Intention to purchase through a normal course issuer bid up to 845,000 of its common shares, representing about 5% of the 16,985,505 common shares outstanding as at May 18, 2012.
The company said the purchases to be made from time to time on the open market through the TSX may commence on June 1, 2012 and will end on the earlier of May 31, 2013, the date that the company completes the purchase of the total number of shares permitted under the Notice, or the date of a notice by the company that it is terminating the bid.
The company may purchase its shares, from time to time, if it believes that the market price of the shares is attractive and that the purchase would be an appropriate use of corporate funds and in the best interests of the company. The company said the purchased shares will be canceled.
The Company has appointed CIBC World Markets as trustee for the purposes of arranging for the acquisition of the shares.
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