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Clarke Inc. Announces Mailing of Meeting Materials for Debentureholder Meeting
Clarke Inc. Announces Mailing of Meeting Materials for Debentureholder Meeting ...
About this update from Clarke Inc.
[{"type":"text","content":"\n \n \n \n Clarke Inc. Announces Mailing of Meeting Materials for Debentureholder Meeting\n \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 Canada NewsWire\n \n \n \n \n \n HALIFAX, NS\n \n ,\n \n Aug. 30, 2021\n \n /CNW/ - Clarke Inc. (TSX: CKI) (TSX: CKI.DB) (\"\n \n Clarke\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that it has mailed an information circular and related meeting materials (the \"\n \n Meeting Materials\n \n \") in connection with its upcoming serial meeting of holders (the \"\n \n Debentureholders\n \n \") of the Company's Series B 6.25% convertible unsecured subordinated debentures due\n \n February 28, 2023\n \n (the \"\n \n Debentures\n \n \") to be held at\n \n 10:00 a.m.\n \n (Halifax Time) on\n \n September 20, 2021\n \n at 145 Hobsons Lake Drive, Suite 106,\n \n Halifax, Nova Scotia\n \n , B3S 0H9 (the \"\n \n Meeting\n \n \").\n \n \n At the Meeting, Debentureholders will be asked to consider and vote upon certain amendments to the terms of the Debentures (the \"\n \n Debenture Amendments\n \n \"), consisting of:\n \n \n \n EXTENDING the maturity date for the Debentures from\n \n February 28, 2023\n \n to\n \n January 1, 2028\n \n ;\n \n \n AMENDING the interest rate on the Debentures from 6.25% to 5.50% for the period beginning on\n \n April 30, 2023\n \n and ending on\n \n January 1, 2028\n \n ; and\n \n \n PROVIDING FOR consequential and other amendments of a housekeeping nature.\n \n \n \n The Company revised the previously announced date of the interest rate amendment to align with the interest rate payment dates on the Debentures.\n \n \n If approved, the Board of Directors of the Company (the \"\n \n Board\n \n \") believe that the Debenture Amendments provide the following advantages:\n \n \n \n \n \n Continued Favourable Interest Rate\n \n \n : The extended maturity date for the Debentures affords Debentureholders a longer period of time during which to receive interest at a favourable rate. The Company believes the 6.25% and subsequent 5.50% interest rates on the Debentures represent an attractive yield i...