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Clarke begins issuer bid for C$6.05 million 6% convertibles due 2018
By Susanna Moon
Chicago, May 17 - Clarke Inc. plans to repurchase up to C$6,054,000 principal amount of its C$62,296,300 6% convertible subordinated debentures due Dec. 31, 2018 under a one-year normal-course issuer bid.
The amount represents about 10% of the public float amount as of May 14, according to a press release.
The issuer bid will run from May 22 through May 21, 2014.
Clarke may purchase daily up to 25% of the average daily trading volume, which is $11,332.
Halifax, N.S.-based Clarke is a diversified group with businesses in freight transportation, shipping, real estate and information technology.
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