TORONTO, March 28,
2024 /CNW/ - Chesswood Group Limited
("Chesswood") (TSX: CHW), a specialty finance company with
40 years of experience in the commercial equipment finance market,
today announces an update on its review of strategic alternatives
to maximize shareholder value, previously announced on January 22, 2024.
In connection with the review process, Chesswood, through a
special committee of its board of directors comprised of
Edward Sonshine (Chair),
Catherine Barbaro and Rags Davloor
(the "Special Committee"), has engaged Stikeman Elliott LLP
as legal counsel and RBC Capital Markets as its exclusive financial
advisor to assist with the Special Committee's evaluation of
potential strategic alternatives to determine the best path forward
to maximizing value for shareholders.
As a result of the meaningful level of inbound interest from
potential counterparties, the Special Committee intends to continue
its efforts in exploring all available strategic initiatives. While
the intention is to complete the review process in a timely manner,
there can be no assurances as to the timing for completion of
review by the Special Committee or that this process will result in
any particular outcome. As such, undue reliance should not be
placed on any expectations as to potential transactions or
strategic alternatives that may be or may become available to
Chesswood, or that there be any impact on shareholder value
following completion of such review. Except as may be required by
applicable securities laws, Chesswood does not expect to comment
further regarding the Special Committee's review process until it
determines additional disclosure is necessary or advisable.
ABOUT CHESSWOOD GROUP
LIMITED
Chesswood Group Limited is a Toronto,
Canada based holding company whose subsidiaries engage in
the business of specialty finance (including equipment finance
throughout North America and
vehicle finance and legal sector finance in Canada), as well as the origination and
management of private credit alternatives for North American
investors. Our shares trade on the Toronto Stock Exchange (under
the symbol CHW).
For information on Chesswood Group
Limited and its operating subsidiaries:
www.ChesswoodGroup.com
www.PawneeLeasing.com
www.TandemFinance.com
www.VaultPay.ca
www.VaultCredit.com
www.Rifco.net
www.WaypointInvestmentPartners.com
www.EasyLegal.ca
NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY
AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED
HEREIN.
SOURCE Chesswood Group Limited
