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Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

People Corp. (PEO-X) reported revenue for its fourth quarter ended Aug. 31 increased to $43.2-million from $36.3-million a year ago. Net income was $2.9-million or 5 cents per share, compared with a loss of $9.5-million or 17 cents a year ago.

Analysts were expecting revenue of $44.3-million and zero earnings per share in the latest quarter.


Mainstreet Equity Corp. (MEQ-T) reported rental revenue of $36.6-million in the fourth quarter ended Sept. 30 up from $31.1-million a year ago, according to documents filed on Analysts were expecting revenue of $36.4-million.

Its profit was $29.2-million or $3.11 per share versus profit of $33.4-million or $3.50 per share a year ago. Net operating income was $24-million versus $20.6-million a year ago.


The takeover battle for Hudson’s Bay Co. (HBC-T) is set to heat up ahead of a key regulatory hearing this week, after an influential proxy adviser urged investors to reject a $1.1-billion offer led by the retailer’s executive chairman, Richard Baker.

Institutional Shareholder Services Inc., which advises big stockholders on how to vote in corporate elections, late Friday recommended a “no” vote on the Baker group’s offer of $10.30 a share for HBC. ISS cited "significant defects” in HBC’s sale process that prevented investors from getting a higher bid.

Catalyst Capital Group Inc., the Toronto private equity fund led by financier Newton Glassman, has made an alternative proposal, saying it is willing to pay $11 per share for the company.

A shareholder vote on the offer by the Baker group, which owns 57 per cent of HBC’s stock, is set for Dec. 17. A special committee of the board of directors has recommended the Baker bid, which must be approved by a majority of the other shareholders.

-David Milstead and Jeffrey Jones



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