Computer Modelling Group Ltd. Announces Preliminary Results of Substantial Issuer Bid

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Postmedia has not reviewed the content. by GlobeNewswire Computer Modelling Group Ltd. Announces Preliminary Results of Substantial Issuer BidAuthor of the article:CALGARY, Alberta, Sept. 22, 2026 (GLOBE NEWSWIRE) — Computer Modelling Group Ltd. (“CMG” or the “Company”) (TSX: CMG), announced today the preliminary results of its substantial issuer bid (the “SIB”), pursuant to which CMG offered to purchase for cancellation a number of its common shares (“Shares”) for an aggregate purchase price not to exceed C$20 million at a purchase price of not less than C$4.00 and not more than C$4.50 per Share. The SIB expired at 5:00 p.m. (Eastern time) on Monday, September 21, 2026.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountPreliminary Results of SIBGet the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againIn accordance with the terms and conditions of the SIB and based on the Company’s preliminary calculations, CMG expects to take up and pay for approximately 4,444,444 Shares at a price of C$4.50 per Share under the SIB (the “Purchase Price”), representing an aggregate purchase price of approximately C$20 million and approximately 5.7% of the total number of CMG’s issued and outstanding Shares before giving effect to the SIB and on a non-diluted basis.Based on the preliminary calculations of Olympia Trust Company (the “Depositary”) as depositary for the SIB, approximately 4,657,844 Shares were tendered to the SIB pursuant to auction tenders and purchase price tenders, of which it is anticipated that 3,933,678 Shares (approximately 84%) will be taken up and purchased. In addition, approximately 8,966,715 Shares were tendered pursuant to proportionate tenders, of which it is anticipated that approximately 510,766 Shares will be taken up and purchased.None of CMG’s directors or executive officers participated in the SIB. EdgePoint Investment Group Inc., which held approximately 30.8% of the Shares before giving effect to the SIB, did not tender any Shares to the SIB.Since the SIB was oversubscribed, shareholders who made auction tenders at or below the Purchase Price and shareholders who made, or were deemed to have made, purchase price tenders will have the number of Shares purchased prorated following the determination of the final results of the SIB (other than “odd lot” tenders, which are not subject to proration). CMG currently expects that shareholders who made auction tenders at or below the Purchase Price and purchase price tenders will have approximately 84% of their successfully tendered Shares purchased by CMG.Shareholders who made valid proportionate tenders will have such number of Shares purchased by CMG as would permit such shareholders to maintain their same Share ownership percentage as existed prior to completion of the SIB (subject to rounding to avoid the purchase of fractional Shares).After giving effect to the SIB, CMG expects to have approximately 73.6 million Shares issued and outstanding.The number of Shares expected to be purchased, the proration factor, the Purchase Price and the aggregate purchase price referred to above are preliminary and remain subject to verification by the Depositary. Upon take up and payment of the Shares purchased, CMG will release the final results, including the final proration factor. Payment for the Shares accepted for purchase will be made in accordance with the terms of the Offer and applicable law.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.The full details of the SIB are described in the offer to purchase and issuer bid circular dated August 14, 2026, as well as the related letter of transmittal and notice of guaranteed delivery, copies of which were filed and are available under our profile on SEDAR+ at www.sedarplus.ca. CMG has engaged National Bank Financial Inc. to act as the financial advisor and dealer manager (the “Dealer Manager”) for the SIB. Any questions or requests for information regarding the SIB may be directed to the Depositary, at 1-833-684-1546 (Toll Free – North America), (587) 774-2340 or corporateactions@olympiatrust.com, or to the Dealer Manager, at 1-416-524-9514.This press release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell Shares.Forward-Looking InformationCertain information in this press release may constitute “forward-looking information” within the meaning of applicable securities legislation. All information contained in this press release, other than statements of current and historical fact, is forward-looking information, including statements regarding the Company’s expectations with respect to the SIB, the total number of Shares to be taken up and paid for in connection with the SIB, the total number of proportionate tender shares to be taken up, the proration factor, the Purchase Price, the aggregate purchase price for all Shares taken up, the number of Shares expected to be issued and outstanding after completion of the SIB, and other statements that are not historical facts (collectively, “forward-looking information”). Generally, forward-looking information can be identified by use of words such as “may”, “will”, “expect”, “believe”, “anticipate”, “estimate”, “intend”, “plan”, “would”, “could”, “should”, “continue”, “goal”, “objective”, “remain” and other similar terminology.Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking information is necessarily based on a number of opinions, estimates, and assumptions that the Company considered appropriate and reasonable as of the date such statements are made. Although the forward-looking information contained herein is based upon what the Company believes are reasonable assumptions, actual results may vary from the forward-looking information contained herein. Certain assumptions made in preparing the forward-looking information contained herein include, without limitation, that all reported tenders were validly made and the absence of changes to applicable laws, regulations or policies affecting issuer bids. Inherent in the forward-looking information are known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements, or industry results, to differ materially from any results, performance or achievements expressed or implied by such forward-looking information. Details of these risks are described in the Company’s annual publicly filed documents, including the Annual Information Form for the year ended March 31, 2026 (which are available on the Company’s profile on SEDAR+ at www.sedarplus.ca).Investors should not place undue reliance on forward-looking information as a prediction of actual results. The forward-looking information reflects management’s current expectations and beliefs regarding future events and operating performance and is based on information currently available to management. Although we have attempted to identify important factors that could cause actual results to differ materially from the forward-looking information contained herein, there are other factors that could cause results not to be as anticipated, estimated or intended. The forward-looking information contained herein is current as of the date of this press release and, except as required under applicable law, we do not undertake to update or revise it to reflect new events or circumstances. Additionally, we undertake no obligation to comment on analyses, expectations or statements made by third parties in respect of CMG, our financial or operating results, or our securities.CMG (TSX: CMG) is a global software and consulting company that combines science and technology with deep industry expertise to solve complex subsurface and surface challenges for the energy industry around the world. CMG is headquartered in Calgary, AB, with offices globally. For more information, visit www.cmgl.ca.For investor inquiries, please contact: Kim MacEachern Director, Investor Relations cmg-investors@cmgl.ca. For media inquiries, please contact: marketing@cmgl.ca.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.