Clarke redeems C$18.28 million 6% convertibles due 2012

By Toni Weeks

San Diego, May 12 - Clarke Inc. said it has completed a partial redemption of C$18,275,000 of its 6% convertible unsecured subordinated debentures due Dec. 31, 2012.

According to a press release, the convertibles were redeemed at par plus accrued interest for a total price of C$18,668,538. The company used available funds for the redemption.

Following the transaction, C$18,275,500 of the convertibles remains outstanding.

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

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