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CDJ Global Catalyst LLC Enters Into a Support Agreement to Acquire C.A. Bancorp Inc. for $3.20 Per Share in Cash

TORONTO, ONTARIO -- (Marketwire) -- 01/10/13 -- C.A. Bancorp Inc. ("CAB" or the "Company") (TSX:BKP) and CDJ Global Catalyst LLC ("CDJ") today announced that they have entered into a support agreement (the "Support Agreement") under which CDJ has agreed, subject to customary conditions, to offer to acquire all of the issued and outstanding common shares (the "Shares") of the Company for cash at a price of $3.20 per Share (the "Offer"), an increase from CDJ's previously announced intention to make an offer at $3.15 per Share. The Offer will be made by CDJ, on behalf of accounts in respect of which it exercises discretion and control, by way of a take-over bid circular that will be mailed to the Company's shareholders (the "Shareholders") on or before January 21, 2013, subject to extension. CDJ, on behalf of managed accounts over which it has sole discretion, exercises control over 2,442,051 or 19.9% of the 12,269,280 issued and outstanding Shares.

The Company's Board of Directors (the "Board") has unanimously determined that the consideration per Share under the proposed transaction (the "Transaction") is fair and the transactions contemplated in the Offer are in the best interests of the Company and the Shareholders and, accordingly, the Board has unanimously recommended that Shareholders tender their Shares to the Offer. The Company's financial advisor, MPA Morrison Park Advisors Inc., has provided an opinion to the Board that the consideration payable under the Transaction is fair from a financial point of view to Shareholders (other than CDJ or any of its affiliates).

"When the Company began implementing the realization strategy in mid-2010, the board and management were committed to maximizing shareholder value over a two to three year period, while continuously evaluating alternatives that may deliver similar or superior value to the shareholders," said Paul Haggis, Chairman of the Board. "The transaction announced today represents the culmination of the realization strategy and we recommend that shareholders tender their shares to the Offer."

"We are very pleased to have our bid supported by CAB's Board of Directors. We intend to maintain CAB as a publicly traded entity, which will facilitate future growth and provide greater access to capital, which can then be deployed in new opportunistic investments," said Colin King, Managing Director of CDJ.

The consideration being offered to Shareholders under this Transaction represents a premium of approximately 9% to the closing price of the Company's Shares on November 26, 2012, the day prior to the announcement by CDJ of its intention to make an all-cash offer to acquire the Shares. Furthermore, the Offer represents a price that is 96% of CAB's net asset value per Share as reported by CAB on November 5, 2012.

As part of the Transaction, directors and officers of the Company who own Shares have entered into lock-up agreements to tender to the Offer, subject to the terms of such agreements, all of the Shares beneficially owned or controlled by them. In addition, CDJ has also received lock-up agreements from The K2 Principal Fund L.P., North Pole Capital Master Fund, a former director of the Company and a former officer of the Company in which each has agreed subject to the terms of such agreements to tender their Shares to the Offer. In aggregate, CDJ has received agreements to tender to the Offer for 3,603,567 Shares representing approximately 29.37% of the Company's issued and outstanding Shares.

The Offer will be open for acceptance for a period of not less than 35 days and will be conditional upon, among other things, more than 50% of the Shares of the Company (on a fully-diluted basis and excluding those held or controlled by CDJ) being validly deposited under the Offer and not withdrawn. In addition, the Offer will also be subject to other customary conditions. The Support Agreement includes customary restrictions on the Company seeking alternatives to the Offer (subject to "fiduciary out" provisions in the event of an unsolicited superior proposal), and standard "deal protection" provisions include a termination fee and right to match in favour of CDJ. Pending completion of the Offer and subject to certain limitations outlined in the Support Agreement, the Company will continue to operate its business in the ordinary course consistent with past practice.

Shareholders should consult their own investment dealer, stockbroker, bank manager, accountant, lawyer or other professional advisor with respect to the Transaction, details of which will be contained in the take-over bid circular.

C.A. Bancorp Inc.

C.A. Bancorp is a publicly traded Canadian merchant bank and alternative asset manager that provides investors with access to a range of private equity and other alternative asset class investment opportunities. C.A. Bancorp has historically focused on investments in small- and middle-capitalization public and private companies, with emphasis on the industrials, real estate, infrastructure and financial services sectors. The Company is currently executing its Realization Strategy.

Caution Regarding Forward-Looking Information

This release may contain forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "should", "plans" or "continue" or the negative thereof or variations thereon or similar terminology. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will provide to be correct. These forward- looking statements are subject to a number of risks and uncertainties. Actual results could differ materially from those anticipated in these forward-looking statements. Reference should be made to the risk factors published in the Company's most recent management discussion and analysis available at www.sedar.com.


C.A. Bancorp Inc.                                                           
401 Bay Street, Suite 1600                                                  
Toronto, Ontario M5H 2Y4                                                    
Telephone: (416) 214-5985                                                   
Fax: (416) 861-8166                                                         

Contacts:
C.A. Bancorp Inc.
Steven Sharpe
Chief Executive Officer
1-866-388-5985
416-861-8166 (FAX)
info@cabancorp.com
www.cabancorp.com

Contacts:
CDJ Global Catalyst LLC
Colin King
Managing Director
(212) 521-1108

About Marketwired .
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