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CLARKE INC. ANNOUNCES REDEMPTION OF ALL OF ITS OUTSTANDING 5.50% CONVERTIBLE UNSECURED SUBORDINATED DEBENTURES DUE JANUARY 1, 2028
CLARKE INC. ANNOUNCES REDEMPTION OF ALL OF ITS OUTSTANDING 5.50% CONVERTIBLE UNSECURED SUBORDINAT...
About this update from Clarke Inc.
[{"type":"text","content":"\n \n \n \n CLARKE INC. ANNOUNCES REDEMPTION OF ALL OF ITS OUTSTANDING 5.50% CONVERTIBLE UNSECURED SUBORDINATED DEBENTURES DUE JANUARY 1, 2028\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 \n HALIFAX, NS\n \n \n ,\n \n \n June 28, 2023\n \n \n /CNW/ - Clarke Inc. (the \"\n \n Company\n \n \" or \"\n \n Clarke\n \n \") (TSX: CKI) announced today that it has delivered a notice to Computershare Trust Company of\n \n Canada\n \n (\"\n \n Computershare\n \n \"), as debenture trustee under the trust indenture between the Company and Computershare dated\n \n September 30, 2019\n \n , as supplemented by the first supplemental indenture dated\n \n September 30, 2021\n \n (together, the \"\n \n Indenture\n \n \"). Such notice of redemption provides that the Company will redeem the entire aggregate principal amount of\n \n $35,000\n \n ,000 of its outstanding 5.50% Series B Convertible Unsecured Subordinated Debentures due\n \n January 1, 2028\n \n , which are listed for trading on the Toronto Stock Exchange under the symbol CKI.DB (the \"\n \n Debentures\n \n \") in accordance with the terms of the Debentures.\n \n \n The Debentures will be redeemed on\n \n July 28, 2023\n \n (the \"\n \n Redemption Date\n \n \") for an aggregate redemption amount of\n \n $1,013.41\n \n for each\n \n $1,000.00\n \n principal amount of Debentures, being equal to the aggregate of (i)\n \n $1,000.00\n \n principal amount of Debentures, plus (ii) all accrued and unpaid interest thereon to, but excluding, the Redemption Date (the \"\n \n Redemption Price\n \n \").\n \n \n In connection with redemption of the Debentures, the Company has entered into a credit facility (the \"\n \n Credit Facility\n \n \") with the Company's controlling shareholder, G2S2 Capital Inc. (\"\n \n G2S2\n \n \"). The Credit Facility bears interest at 6.00% and is interest payments only until\n \n January 1, 2028\n \n , whereby afterwards the Credit Facility will continue as a revolving line of credit on demand. The interest-only period aligns with the current maturity dat...