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Clarke Inc. Announces Amendment to the Normal Course Issuer Bid for its Common Shares and the Renewal of the Normal Course Issuer Bid for its Series B Convertible Debentures
Clarke Inc. Announces Amendment to the Normal Course Issuer Bid for its Common Shares and ...
About this update from Clarke Inc.
[{"type":"text","content":"\n\n\n\nClarke Inc. Announces Amendment to the Normal Course Issuer Bid for its Common Shares and the Renewal of the Normal Course Issuer Bid for its Series B Convertible Debentures\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nHALIFAX, March 10, 2020\n\n\n\nHALIFAX, March 10, 2020 /CNW/ - Clarke Inc. (\"Clarke\" or the \"Company\") (TSX: CKI) (TSX: CKI.DB) announced today that the Toronto Stock Exchange (the \"TSX\") has approved the Company's amended notice of intention to make a normal course issuer bid for up to an additional 208,703 of its common shares, bringing the total under the current normal course issuer bid to 810,774 common shares, representing 5% of the total issued an outstanding common shares as of March 4, 2020 (the \"Share Issuer Bid\").\nPursuant to the notice, the Company may, until June 26, 2020 (or on such earlier date as the Company completes its purchases pursuant to the Share Issuer Bid or provides notice of cancellation), purchase common shares through the facilities of the TSX or any Canadian alternative trading system, at prevailing market prices in accordance with the rules and policies of the TSX.  All common shares purchased by the Company under the Share Issuer Bid will be cancelled.  As of March 4, 2020, the Company had a total of 16,215,484 common shares issued and outstanding.  From September 1, 2019 to February 29, 2020 the average daily trading volume (\"ADTV\") of Clarke common shares was 5,636 common shares. Under TSX Rules, the Company is entitled to purchase up to 25% of the ADTV of the respective class of shares which is 1,409 common shares, on any trading day.\nThe amendment of the normal course issuer bid follows the issuance by the Company on September 30, 2019 of an additional 4,799,455 common shares as consideration for the purchase of the issued and outstanding common shares not already owned by Clarke of Holloway Lodging Corporation.  The Company has previously purchased 446,900 common shares at a weighted average trading price of $12.94 per common share pursuan...