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Computer Modelling Group Ltd. Announces Substantial Issuer Bid

Computer Modelling Group Ltd CALGARY, Alberta, Aug. 11, 2026 (GLOBE NEWSWIRE) -- Computer Modelling Group Ltd. ("CMG" or the "Company") (TSX: CMG) announced today that the board of directors (the "Board") has approved a substantial issuer bid (the "SIB") pursuant to which the Company will offer to purchase for cancellation up to C$20,000,000 of its common shares (the "Shares"). It is anticipated that the SIB will commence on August 14, 2026, and will expire on September 21, 2026, unless extended, varied or withdrawn. The Company has, subject to the receipt of the necessary exemptive relief under applicable securities laws, determined that the SIB will proceed by way of a "modified Dutch auction" that includes the ability for shareholders to participate via a proportionate tender. Holders of Shares wishing to tender to the SIB will be entitled to do so by making (i) an auction tender for a specified number of Shares at a price of not less than C$4.00 and not more than C$4.50 per Share, in increments of C$0.10 per Share; (ii) a purchase price tender without specifying a price per Share, but rather agreeing to have a specified number of Shares purchased at the purchase price to be determined by the auction tenders; or (iii) a proportionate tender in which they will agree to sell, at the purchase price to be determined by auction tenders, a number of Shares that will result in them maintaining their proportionate equity ownership in the Company following completion of the SIB. Shareholders who validly deposit Shares without specifying the method by which they are tendering such Shares will be deemed to have made a purchase price tender. All Shares purchased by the Company under the SIB will be cancelled. The price range to be offered for the Shares pursuant to the SIB represents a 7% to 20% premium to the closing price of the Shares on the Toronto Stock Exchange (the "TSX") on August 11, 2026, being the last trading day before the SIB was announced. Over the 12-month period ended August 11, 2026, the closing prices of the Shares on the TSX have ranged from a low of C$3.44 to a high of C$6.54. The SIB will be optional for all shareholders, who will be free to choose whether to participate, how many Shares to tender and, in the case of auction tenders, at what price to tender within the specified range. Any shareholder who does not deposit its Shares (or whose Shares are not repurchased under the SIB) will realize a proportionate increase in its equity interest in the Company, to the extent that Shares are purchased under the SIB. Story Continues As of the date hereof, to the knowledge of the Company after reasonable inquiry, none of the Company's directors or officers intend to tender their Shares to the SIB. The final purchase price to be paid by the Company for each validly deposited Share will be determined upon expiry of the SIB and will be based on the number of Shares validly deposited pursuant to auction tenders and purchase price tenders, and the prices specified by shareholders making auction tenders. As a result, the Company's shareholders who tender their Shares (other than shareholders who make a proportionate tender, which tenders will not be considered for purposes of determining the purchase price) will set the purchase price for the SIB. The purchase price will be the lowest price per Share (which will be not less than C$4.00 per Share and not more than C$4.50 per Share) that enables the Company to purchase all of the Shares collectively tendered pursuant to valid auction tenders at auction prices less than or equal to that price and pursuant to purchase price tenders, in each case for an aggregate purchase price not exceeding the amount available for auction tenders and purchase price tenders after giving effect to proportionate tenders (the "Auction Tender Limit Amount"). For the purpose of determining the purchase price, Shares deposited pursuant to a purchase price tender will be deemed to have been deposited at

Computer Modelling Group Announces First Quarter Results and Quarterly Dividend

Computer Modelling Group Ltd CALGARY, Alberta, Aug. 11, 2026 (GLOBE NEWSWIRE) -- Computer Modelling Group Ltd. ("CMG Group" or the "Company") announces its financial results for the three months ended June 30, 2026, and the approval by its Board of Directors (the "Board") of the payment of a cash dividend of $0.01 per Common Share for the first quarter ended June 30, 2026. FIRST QUARTER 2027 CONSOLIDATED HIGHLIGHTS Select financial highlights Total revenue decreased by 6% (16% Organic decline(1) and 10% growth from acquisitions) to $27.8 million; Recurring revenue(2) decreased by 3% (12% Organic decline and 9% growth from acquisitions) to $20.3 million; Adjusted EBITDA(1) decreased by 10% to $6.4 million; Adjusted EBITDA Margin(1) was 23%, compared to 24% in the comparative period; Earnings per share was $0.02, a 50% decrease; Free Cash Flow(1) decreased by 22% to $3.5 million; Free Cash flow per share decreased to $0.04 from $0.05 (1) Organic growth/decline, Adjusted EBITDA, Adjusted EBITDA Margin, Recurring revenue, Free Cash Flow and Free Cash Flow per share are not standardized financial measures and might not be comparable to measures disclosed by other issuers. For more description see under Non-IFRS Financial Measures and Reconciliation of Non-IFRS Measures" heading. (2) Recurring revenue includes Annuity/maintenance licenses and Annuity license fee and excludes Perpetual licenses and Professional Services OVERVIEW On August 11, 2026, the company announced that the board of directors has approved a substantial issuer bid (SIB) pursuant to which the Company will offer to purchase for cancellation up to $20,000,000 of its common shares. It is anticipated that the SIB will commence on August 14, 2026, and will expire on September 21, 2026, unless extended, varied or withdrawn. In the first quarter of 2027, total revenue declined 6%. Total Recurring revenue declined 3%, as 9% growth from acquisitions was offset by 12% negative organic growth. The organic decline reflects primarily the previously disclosed customer loss incurred in the second quarter of fiscal 2026. The current quarter represents the final quarter lapping that contract loss after which year-over-year comparisons are expected to normalize. Professional services revenue declined 16%, with a 29% organic decline partially offset by 13% growth from acquisitions. The organic decline was driven by previously disclosed factors including the absence of CoFlow related development funding in the current quarter but that was recognized in the prior year, and the ongoing reduction in non-core professional services activity at Bluware. Story Continues Adjusted EBITDA for the quarter declined to $6.4 million, a result of lower revenue and partially offset by disciplined cost management. Both acquisitions completed in fiscal 2026 (SeisWare and Rose & Associates) contributed positively to Adjusted EBITDA in the quarter, despite the seasonal weighting of their software revenue recognition to the second half of the year. Free Cash Flow declined to $3.5 million, impacted by lower revenue and higher income taxes which had a negative impact on net income. In the second quarter, we expect Recurring revenue to increase sequentially from Q1 driven by a higher renewal cycle in Q2 relative to Q1. Professional services revenue is expected to decline sequentially in the second quarter, and to represent the lowest quarter of the fiscal year. This reflects the completion of the wind down of the non-core services at Bluware and lower activity levels during the summer months. Adjusted EBITDA and Adjusted EBITDA margins in the second quarter are expected to decline sequentially reflecting the trough in professional services revenue and an expected increase in sales and marketing expense tied to agent commissions paid on contract renewals that happen regularly in Q2. For fiscal 2027, we are updating our outlook for professional services revenue which is now expected to decline between $6-7 mi

How a book that inspired Warren Buffett and a $14,000 side hustle helped billionaire Bill Ackman get started as an investor

Billionaire Bill Ackman has built a $35 billion hedge fund, led high-profile overhauls at companies like Chipotle, and boasts an eye-watering investment portfolio through his firm, ranging from Amazon to Microsoft. Now, he's revealing the two things that moved the needle in his career: A book that inspired Warren Buffett and a $14,000 side hustle. "One early formative experience was at Harvard, where I took a job at Harvard Student Agencies selling advertising for the Let's Go travel guides—a series of books where Harvard students wrote reviews of hotels around the world," Ackman recently told Editor-in-Chief Alyson Shontell during Fortune's Titans and Disruptors of Industry podcast. "It was a commission-based business, and I turned out to be a good salesman," he continued. In fact, he was so good at the job that the student agency was afraid he would out-earn his superiors. "I made $14,000, which felt like a huge amount of money." As a teenager, Ackman told his dad that he'd be a millionaire by 30, have $100 million by 40, and be a billionaire by 50. And that commission check was his first taste of business success. Then, after graduating, he returned home to work for his father, who cofounded and ran New York-based commercial real estate firm Ackman-Ziff Real Estate Group. Ackman wasn't too thrilled about the job, but it pointed him toward the career he wanted to build. "I found the entrepreneurs and developers on the other side of the phone more interesting, and I decided I wanted to be an investor," he said. And his father—an entrepreneurial success in his own right—led him further down the investing rabbit hole. "My dad introduced me to a man named Leonard Marks, who recommended 'The Intelligent Investor' by Ben Graham." Graham is known as the "Father of Value Investing" and profoundly influenced the young Warren Buffett's investing style, which Ackman came to greatly admire. Ackman completed his MBA at Harvard Business School in 1992, and that same year co-founded his first investment firm Gotham Partners with fellow Harvard graduate David Berkowitz. "I went to business school to learn how to be an investor and just followed that path—fortunate to find something I was excited about," Ackman added. Now, Bill Ackman's Pershing Square Capital Management is a $35 billion titan In 2004, after winding down his Gotham Partners venture, Ackman founded New York-based investment firm Pershing Square Capital Management. Over more than two decades under his leadership as CEO, the company has grown to become a $35 billion titan of industry. Story Continues Its long-term returns have crushed the market—those who stayed in since inception have seen their investments compound nearly 16.5% annually for two decades, compared to a 10% return on the S&P 500 over the same period. However, in 2026, the company has recently been underperforming, with Pershing Square Holdings down 11% year-to-date this February compared to the S&P 500's roughly 1% gain. Still, in April of this year, Pershing Square raised $5 billion in the largest closed-end fund listing in U.S. history through its combined IPO. The 60-year-old hedge fund mogul has also grown his own net worth to $11.5 billion, and his influence has grown commensurately. A well-timed 2020 bet on corporate credit markets during the COVID-19 crash reportedly turned $27 million into $2.6 billion in a matter of weeks. His 2016 bet on Chipotle also paid off handsomely, with Pershing Square nearly doubling its original $1.2 billion investment within a few years, and later selling off its stake. And around a decade ago, his activist campaign at Canadian Pacific Railway became one of the most celebrated turnarounds in modern investing. Ackman is a 'Warren Buffett devotee' looking to emulate his success Ackman is still a self-proclaimed "Warren Buffett devotee" who has looked up to the legendary investor as an "unofficial mentor." In March of this year, he sought to replicate Buffett's success with Berk

Taylor Farms Pulls Salsa and Guacamole Over Salmonella Concerns

(Bloomberg) -- Taylor Farms is pulling more than a dozen prepared food items containing jalapeños, including salsas and guacamole, from retailers due to concerns over salmonella, just weeks after federal health officials tied the produce company to a separate outbreak of cyclospora. Most Read from Bloomberg Trump Amps Up Pressure on Billionaire Sargeant to Exit Venezuela Iran Rejects US Talks as Trump Displays Patience for Hormuz Deal Iran Says Hormuz Deal Close But Its Conditions Must Be Met OpenAI's New Device Will Be Hockey Puck-Sized and Cost Over $300 America's Cyber Forces Grapple With Cluster of Deaths by Suicide The Salinas, California-based company said Sunday it has issued a voluntary recall of products with jalapeño peppers tied to an earlier recall by Coast Citrus Distributors. Taylor Farms said it was "no longer" sourcing jalapeños from a farmer in Sinaloa, Mexico, that supplied the peppers to Coast Citrus and was identified as the potential source of a salmonella outbreak. The recall affects products distributed to more than two dozen states, including Illinois, New York and Texas. Most were sold at major grocers such as Kroger Co., Target Corp., Trader Joe's, Walmart Inc. and Amazon.com Inc.'s Whole Foods Market in a number of prepared foods, ranging from diced peppers to containers of pineapple mango salsa. Taylor Farms said it is unaware of any reported illnesses linked to the voluntarily recalled items. The Centers for Disease Control and Prevention last week said hundreds of people had been sickened across 27 states by potentially contaminated jalapeños distributed by Coast Citrus, a unit of GrubMarket Inc., which last month filed confidentially for an initial public offering in the US. That came after federal health officials last month tied the largest outbreak of cyclospora parasite cases to iceberg lettuce from Mexico supplied by Taylor Farms to companies including Yum! Brands Inc.'s Taco Bell. Federal authorities are also investigating clusters tied to other sources. Taylor Farms is a juggernaut in the produce industry with a supply chain that spans several countries across North America and Europe. The outbreaks have exposed how consolidation in the produce industry can broaden the food system's vulnerability to outbreaks, since lettuce grown in one part of the world can be processed and distributed widely very quickly. Recalls are a drag on both revenue and consumer confidence as customers can sometimes shy away from products for weeks and months after outbreaks are contained. Last week, Mexican fast-food restaurant chains Chipotle Mexican Grill Inc. and Qdoba Restaurant Corp. said they pulled Coast Citrus jalapeños from hundreds of locations after the CDC announcement. Story Continues Most Read from Bloomberg Businessweek Lululemon Is At War With Itself How Apple and India Built an Alternative iPhone Production Hub TikTok Withheld a Safety Feature From Millions. One Died by Suicide RFK Jr.'s Cooking Show Is One Long, Boring Political Ad Armed With $10 Billion, Sequoia's Leaders Plan Its New Era ©2026 Bloomberg L.P. View Comments

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