Toronto, Ontario – October 28, 2010 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL.A) today announced that a Shareholders Rights Plan (“SRP”) was approved by a majority of votes cast at its special meeting of shareholders held this morning.
The SRP is intended to insure the fair treatment of all shareholders in the event of an effort to acquire control of the company through share purchases, the benefit of which are not made available to all shareholders. The plan also is intended to permit the Board sufficient time to maximize the value to be received by shareholders if an effort to acquire control of the company is made.
The SRP permits bids made to all shareholders if no shares are taken up for 60 days, and are taken up only if more than 50% of the shares are tendered to the bid. If any person acquires more than 20% of the common shares in any other fashion, the SRP results in substantial dilution to the acquirer. Holdings of shares of the Company prior to the effective date of the SRP are exempt from the 20% ownership restriction, provided that such holders do not acquire any more shares.
About The Caldwell Partners
The Caldwell Partners International is one of North America’s premier providers of executive search and has been for 40 years. As one of the region’s most trusted advisors in executive search, the firm has a sterling reputation built on successful searches for boards, chief and senior executives, and selected functional experts. With offices and partners in Vancouver, San Francisco, Los Angeles, Dallas, Calgary, Chicago, Atlanta, Toronto, Stamford, New York City, and a strategic presence in London, the firm takes pride in delivering an unmatched level of service and expertise to its clients.
The Caldwell Partners’ Common shares are listed on The Toronto Stock Exchange (TSX: CWL). Please visit our website at www.caldwellpartners.com for further information.
Forward-looking statements in this document are based on current expectations that are subject to significant risks and uncertainties. Actual results might differ materially due to various factors such as the competitive nature of the executive search industry, the ability of the company to execute its growth strategies, the performance of the Canadian domestic and international economies, and the company’s ability to retain key personnel. The Caldwell Partners assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.
For further information, please contact:
Karen E. Richards, CA Chief Financial Officer and Secretary
The Caldwell Partners International Inc.