(All amounts in release are in Canadian dollars)
OTTAWA, Ontario, March 12, 2025 (GLOBE NEWSWIRE) -- Calian® Group Ltd. (TSX:CGY), a diverse products and services company providing innovative healthcare, communications, learning and cybersecurity solutions, today announced it plans to step up its share repurchases by utilizing block trades in accordance with its Normal Course Issuer Bid (NCIB).
The Company plans to repurchase approximately 250,000 shares, through a series of block trades on the open market, totaling approximately $10 million, based on current market levels. These repurchases will be in addition to the daily repurchases the Company has been undergoing.
“After achieving more than ten consecutive record years of revenue and adjusted EBITDA, and being on track for another strong year, the Company’s share price sits at five-year lows. In response, we are doubling down on share repurchases as we believe the current market price significantly underestimates the Company’s growth potential. We believe the market is overlooking the significant opportunities we have to support the defence industry, arising from recent global geopolitical tensions, as well as the expanding space and healthcare sectors. Additionally, it fails to recognize the strength of our proven M&A strategy, our robust free cash flow generation and our solid balance sheet. We remain committed to enhancing shareholder value and firmly believe that repurchasing shares at these levels is a prudent use of capital,” stated Kevin Ford, Calian CEO.
Calian will continue to assess future share repurchase decisions in alignment with its M&A agenda, which remains the top priority for capital allocation.
About Calian
We keep the world moving forward. Calian® helps people communicate, innovate, learn and lead safe and healthy lives. Every day, our employees live our values of customer commitment, integrity, innovation, respect and teamwork to engineer reliable solutions that solve complex challenges. That’s Confidence. Engineered. A stable and growing 40-year company, we are headquartered in Ottawa with offices and projects spanning North American, European and international markets. Visit calian.com to learn about innovative healthcare, communications, learning and cybersecurity solutions.
Product or service names mentioned herein may be the trademarks of their respective owners.
Media inquiries:
media@calian.com
613-599-8600
Investor Relations inquiries:
ir@calian.com
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DISCLAIMER
Certain information included in this press release 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 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.
Calian · Head Office · 770 Palladium Drive · Ottawa · Ontario · Canada · K2V 1C8
Tel: 613.599.8600 · Fax: 613-592-3664 · General info email: info@calian.com
