Business
CLARKE ANNOUNCES PARTIAL REDEMPTION OF DEBENTURES DUE DECEMBER 31, 2012
Apr. 7, 2011 (Canada NewsWire Group) -- HALIFAX, April 7 /CNW/ - Clarke Inc. (the "Compa...
About this update from Clarke Inc.
[{"type":"text","content":"\n\n\n Apr. 7, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nHALIFAX, April 7 /CNW/ - Clarke Inc. (the "Company") (TSX: CKI CKI.DB\n CKI.DB.A) announced today that it has exercised its right to partially\n redeem its 6% convertible unsecured subordinated debentures maturing\n December 31, 2012 (the "Debentures") in accordance with the terms of\n the indenture governing the Debentures. On May 11, 2011 (the\n "Redemption Date"), the Company will redeem Debentures in an aggregate\n principal amount of $18,275,000, representing approximately 50% of the\n current outstanding balance of the Debentures.  On redemption, the\n Company will pay to the holders of redeemed Debentures the redemption\n price (the "Redemption Price") equal to the outstanding principal\n amount of the Debentures to be redeemed, together with all accrued and\n unpaid interest thereon up to but excluding the Redemption Date, for a\n total of $1,021.53 per $1,000 principal amount of Debentures.\n\n\nThe aggregate principal amount of Debentures currently outstanding is\n $36,550,500. The Company intends to use available funds to pay the\n Redemption Price of the Redeemed Debentures.\n\n\nThe Debentures to be redeemed shall be selected by the Debenture trustee\n on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal\n amount of the Debentures registered in the name of each holder.\n\n\nAbout Clarke\n\n\nHalifax-based Clarke Inc. invests ...