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Clarke Inc. announces extension of substantial issuer bid and take-up of debentures deposited to date
Clarke Inc. announces extension of substantial issuer bid and take-up of debentures deposited to ...
About this update from Clarke Inc.
[{"type":"text","content":"\n\n\n\nOct. 26, 2009 (Canada NewsWire Group) -- HALIFAX, Oct. 26 /CNW/ -- Clarke Inc. (\"Clarke\" or the \"Corporation\", TSX-CKI, TSX-CKI.DB, TSX-CKI.DB.A) announced today that Clarke's substantial issuer bid (the \"Offer\"), which was previously announced on September 16, 2009, has been extended and will now expire at 5:00 p.m. (Halifax Time) on Tuesday November 10, 2009. The Corporation provided notice of the extension to Computershare Investor Services Inc. (the \"Depositary\") on October 26, 2009.The Corporation will be mailing a notice of extension to all holders (the \"Debentureholders\") of Series 2 6.0% convertible unsecured subordinated debentures due December 31, 2013 (the \"Debentures\") of the Corporation, issued under and pursuant to the provisions of a trust indenture dated December 22, 2005, on or about Thursday October 29, 2009. The Offer, pursuant to which the Corporation is offering to purchase up to $25 million principal amount of Debentures, was previously scheduled to expire at 5:00 p.m. (Halifax Time) on Monday October 26, 2009. Except for the extension of the expiry of the Offer, the terms previously set forth in the original Offer, accompanying circular and related documents dated September 16, 2009 (the \"Offer Documents\") continue to be applicable in all respects.As at 5:00 p.m. (Halifax time) today, based on reports provided by the Depositary for the Offer, a total of $9,336,000 principal amount of Debentures had been deposited pursuant to the Offer. The Corporation will be taking up all of the $9,336,000 principal amount of Debentures deposited as of 5:00 p.m. today as required by applicable securities laws and as set forth in the Offer Documents.Neither the Corporation nor its Board of Directors makes any recommendation to Debentureholders as to whether to tender or refrain from tendering their Debentures to the Offer. Debentureholders are strongly encouraged to review the Offer Documents carefully and to consult with their financial and tax advisors prior to making any decision with respect to the Offer.About ClarkeHalifax-based Clarke Inc., led by an entrepreneurial team of investment professionals, is an activist and catalyst investment company that creates shareholder value by identifying businesses with the potential for improved performance, and working actively to uncover the value.Clarke's...