Stock Name: CWL
Amount: CAD 0.015
Announcement Date: 14/03/2012
Record Date: 29/02/2012
Dividend Detail:
TORONTO, March 14, 2012 /CNW/ - Further to its February 21, 2012
announcement of a special meeting of shareholders to be held on May 1,
2012, retained executive search firm The Caldwell Partners
International Inc. (TSX: CWL) will today mail a Notice of Meeting and
Management Information and Proxy Circular to all shareholders of record
on March 2, 2012.��The purpose of this meeting is to seek shareholder
approval of the transfer of 75% of its Stated Capital to Contributed
Surplus, thus allowing the Company to recommence paying a regular
dividend.
On February 9, 2012, shareholders very narrowly defeated the same
resolution. While 42 percent of shareholders who voted by proxy in
advance of the meeting overwhelmingly supported the resolution, the
resolution failed by the slimmest of margins based on additional votes
cast in person at the meeting.
Had that resolution passed, approximately $12 million of Stated Capital
would have been reclassified as Contributed Surplus. As a result of
this rejection by shareholders, the Company remains unable to consider
declaring a dividend or making application to the Toronto Stock
Exchange for approval of a Normal Course Issuer Bid.
The Company today announced that the Board of Directors declared a
dividend of 1.5 cents per Share, payable to holders of Common Shares of
record on May 10, 2012, conditional upon passage of this special
resolution at the May 1, 2012 special meeting of shareholders.�� If the
special resolution is passed by the requisite two-thirds majority, and
confirmed by the Board of Directors immediately after the meeting, it
is expected that the dividend of 1.5 cents per Share will be paid on or
about June 15, 2012.�� The Board of Directors expects to confirm the
declaration of this dividend unless it is determined prior to the
Meeting that the confirmation of this dividend declaration is
inappropriate, given events that may have occurred in relation to the
Corporation from the date of this circular and prior to the Meeting.
All shareholders are strongly encouraged to participate, either by proxy
or in person, in this very important meeting.
Should you have any questions whatsoever, or if you have not received
your proxy material by March 30th, please contact Karen Richards, the
Company's Chief Financial Officer and Corporate Secretary, at krichards@caldwellpartners.com or 416-934-2228.
About Caldwell Partners
Caldwell Partners is one of North America's premier providers of
executive search and has been for over 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 in Vancouver, San Francisco, Los Angeles, Dallas, Calgary,
Atlanta, Toronto, Stamford, New York City, and a strategic presence in
London and Hong Kong, the firm takes pride in delivering an unmatched
level of service and expertise to its clients.
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
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:
Karen Richards, CA
Chief Financial Officer
The Caldwell Partners International
krichards@caldwellpartners.com
+1.416.934.2228
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