Business
Clarke Inc. announces results of substantial issuer bid for common shares
HALIFAX, Oct. 4, 2011 /CNW/ - Clarke Inc. (" Clarke " or the " Company ") (TSX: CKI CKI.DB CK...
About this update from Clarke Inc.
[{"type":"text","content":"\n\n\n\n\n\nHALIFAX, Oct. 4, 2011 /CNW/ - Clarke Inc. (\"Clarke\" or the \"Company\") (TSX: CKI CKI.DB CKI.DB.A) announced the final results of its\n substantial issuer bid (the \"Offer\"), which was previously announced on August 24, 2011 for up to\n 3,000,000 of the issued and outstanding common shares (\"Common Shares\") of the Company from shareholders (the \"Shareholders\") at the purchase price of $5.00 per Common Share. The Offer expired at\n 5:00 p.m. (Halifax Time) on October 3, 2011.\n\n\nBased on the final report provided by the depositary for the Offer, a\n total of 6,003,061 Common Shares have been deposited as at the\n expiration of the Offer. As the aggregate number of Common Shares\n deposited under the Offer exceeds 3,000,000 Common Shares, a pro-rata\n factor will apply such that shareholders who deposited Common Shares\n will have approximately 49.97% of the Common Shares they deposited\n purchased in accordance with applicable securities laws and as set\n forth in the Offer documents. Aggregate consideration for the Common\n Shares acquired pursuant to the Offer will be $15 million.\n\n\nThe number of Common Shares deposited to the Offer and the pro-rata\n factor may be subject to adjustment should shareholders who delivered\n notices of guaranteed delivery fail to deliver certificates for such\n Common Shares within the required time period or should there be any\n other Common Shares invalidly deposited. Common Shares deposited but\n not purchased, including Common Shares invalidly deposited, will be\n returned as soon as practicable by the depositary to the depositing\n shareholder.\n\n\nPayment for the Common Shares tendered and accepted for purchase will be\n made as soon as practicable in accordance with the Offer.\n\n\nAbout Clarke\n\n\nHalifax-based Clarke Inc. invests in undervalued businesses and\n participates actively where necessary to enhance performance and\n increase return. Clarke's securities trade on the Toronto Stock\n Exchange (CKI, CKI.DB, CKI.DB.A); for more information about Clarke\n Inc., please visit our website at www.clarkeinc.com.\n\n\nForward-Looking Statements\n\n\nThis press release may contain or refer to certain forward-looking\n statements relating, but not limited to, Clarke's expectations,\n intentions, plans and beliefs with respect to Clarke. Often, but no...