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Clarke Inc. Announces Renewal of the Normal Course Issuer Bid for its Series B Convertible Debentures
Clarke Inc. Announces Renewal of the Normal Course Issuer Bid for its Series B Convertibl...
About this update from Clarke Inc.
[{"type":"text","content":"\n \n \n \n Clarke Inc. Announces Renewal of the Normal Course Issuer Bid for its Series B Convertible Debentures\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 , March 29, 2021 /CNW/ - Clarke Inc. (\"\n \n Clarke\n \n \" or the \"\n \n Company\n \n \") (TSX: CKI) (TSX: CKI.DB) announced today that it has filed a notice with the Toronto Stock Exchange (\"TSX\") and received its approval to purchase, through the facilities of the TSX or any Canadian alternative trading system, up to\n \n $4,341,000\n \n principal amount of its Series B Convertible Debentures (the \"\n \n Debentures\n \n \"), representing approximately 10% of the public float of the Debentures as at\n \n March 24, 2021\n \n (the \"\n \n Debenture Issuer Bid\n \n \"). From\n \n September 1, 2020\n \n to\n \n February 28, 2021\n \n the average daily trading volume (\"\n \n ADTV\n \n \") of Clarke Debentures was\n \n $26,648\n \n principal amount. Accordingly, under TSX rules and policies, the Company is entitled on any trading day to purchase up to\n \n $6\n \n ,662 principal amount. Any Debentures purchased by Clarke pursuant to the Debentures Issuer Bid will be cancelled.\n \n \n In connection with the program, the Company has established an automatic securities purchase plan (the \"\n \n Debenture\n \n \n Plan\n \n \") for the Debenture Issuer Bid. The Debenture Plan was established to provide standard instructions regarding how Clarke Debentures are to be repurchased under the Debenture Issuer Bid. Accordingly, Clarke may repurchase its Debentures under the Debenture Plan on any trading day during the Debenture Issuer Bid including during self-imposed trading blackout periods. The Debenture Plan will commence immediately and terminate with the Debenture Issuer Bid. The Company may otherwise vary, suspend or terminate the Debenture Plan only if it does not have material non-public information and the decision to vary, suspend or terminate the Debenture Plan is not taken during a self-imposed trading blackout period. The Debentur...