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Chesswood Group Ltd T.CHW

Alternate Symbol(s):  CHWWF

Chesswood Group Limited is a Canada-based holding company. The Company, through its subsidiaries, engages 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. Its subsidiaries include Pawnee Leasing Corporation (Pawnee), Tandem Finance Inc. (Tandem), Vault Credit Corporation (Vault Credit), Rifco National Auto Finance Corporation and others. Pawnee, which finances micro and small-ticket commercial equipment for small and medium-sized businesses in the United States through a third-party broker channel. Tandem, which sources micro and small-ticket commercial equipment originations to small and medium-sized businesses through the equipment vendor channel in the United States. Vault Credit provides commercial equipment financing and loans to small and medium-sized businesses across Canada.


TSX:CHW - Post by User

Bullboard Posts
Post by m1axon Mar 19, 2015 3:37pm
104 Views
Post# 23540158

From February 26th NR

From February 26th NR
Fourth Quarter Financial Results Chesswood's audited results for the 2014 year-end will be issued later in March and the Company expects to report fourth quarter Adjusted EBITDA of $5.0 million, compared to $5.2 million in the same period of the prior year. Non-recurring items during the quarter include the Company's write-off of the remaining $607,000 in unamortized bank fees under Pawnee's revolving line of credit, which was retired in December and replaced by Chesswood's new U.S.$150 million revolving line of credit. The Company expects to report net income for the fourth quarter of $1.9 million, which would represent approximately 11% growth over the prior year fourth quarter net income of $1.7 million. These figures are all based upon management's unaudited financial statements, pending completion of Chesswood's year-end audit. Chesswood is providing these preliminary results in light of the circumstances of the proposed acquisition and potential financing, and does not intend to continue to provide preliminary results for future periods. Read more at https://www.stockhouse.com/news/press-releases/2015/02/26/chesswood-announces-agreement-for-transformative-acquisition-of-blue-chip#zJRiLrlzisHc3lr4.99
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