Clarke plans to repurchase $7.07 million in 6% convertible debentures

By Devika Patel

Knoxville, Tenn., April 12 - Clarke Inc. said it will buy back and cancel C$7.07 million of its 6% convertible unsecured subordinated debentures.

As of April 7, there is C$77.39 million of the debentures outstanding.

Purchases will begin on Wednesday and terminate on April 13, 2011.

Clarke may purchase up to C$22,323 of the debentures daily.

As of April 7, 2009, Clarke had acquired C$8,323,000 of the debentures through open market transactions under a normal course issuer bid that expired on March 16, at a weighted average price of $681.67 per $1,000 of debentures.

Clarke is a Halifax, N.S.-based diversified group with business in freight transportation, shipping, real estate and information technology.

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