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(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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