By Robb M. Stewart
Calian plans to buy back up to 10% of its public float of shares over a one-year period.
The Ottawa-based company, which provides healthcare, communications, cybersecurity and other services, said Friday it intends to file a notice with the Toronto Stock Exchange launching a normal course issuer bid for the purchase and cancellation of its shares.
Chief Executive Kevin Ford said Calian’s share price no longer reflect the company’s underlying value and undervalue its growth prospects.
The shares were edged up 0.2% in early trading to C$51.73, but remain down 23% so far this year.
Write to Robb M. Stewart at [email protected]
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