HALIFAX, NS, March 22, 2021 /CNW/ - Clarke Inc. ("Clarke"
or the "Company") (TSX: CKI) (TSX: CKI.DB) today announces the
results of its substantial issuer bid commenced on January 27, 2021, as varied and extended on
March 5, 2021 (as amended, the
"Offer") to purchase for cancellation up to 1,150,000 of its
outstanding common shares (the "Shares") (or such greater number of
Common Shares that the Company may determine it will take up and
pay for) at a purchase price of $7.50
per Share.
The Offer expired today at 5:00
p.m. (Toronto Time). Based on the final report provided by
the depositary for the Offer, a total of 20,524 Shares were
deposited at the expiration of the Offer, representing
approximately 0.14% of the Shares outstanding. The total purchase
price for the Shares deposited under the Offer will be
approximately $153,930. Payment for
the Shares deposited and accepted for purchase will be made as soon
as practicable in accordance with the Offer.
Following the purchase and cancellation of the Shares deposited
under the Offer, Clarke will have 15,029,268 Shares
outstanding.
About Clarke
Halifax-based Clarke invests in
a variety of private and publicly-traded businesses and
participates actively where necessary to enhance performance and
increase its return. Clarke's securities trade on the Toronto Stock
Exchange (CKI; CKI.DB). For more information about Clarke, please
visit our website at www.clarkeinc.com.
Forward-Looking Statements
This press release may contain or refer to certain
forward-looking statements relating, but not limited to, Clarke's
expectations, intentions, plans and beliefs with respect to Clarke.
Often, but not always, forward-looking statements can be identified
by the use of words such as "plans", "expects", "does not expect",
"is expected", "budget", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or
equivalents or variations, including negative variations, of such
words and phrases, or state that certain actions, events or
results, "may", "could", "would", "should", "might" or "will" be
taken, occur or be achieved. These forward-looking statements
include, but are not limited to, the timing of payment for the
Shares deposited under the Offer.
Forward-looking statements rely on certain underlying
assumptions that, if not realized, can result in such
forward-looking statements not being achieved. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors that could cause the actual results of Clarke to be
materially different from the historical results or from any future
results expressed or implied by such forward-looking statements.
Risks and uncertainties include, among others, the ability of the
Company to complete the Offer on the terms described herein, the
Company's investment strategy, legal and regulatory risks, general
market risk, potential lack of diversification in the Company's
investments, and interest rates and foreign currency fluctuations.
Although Clarke has attempted to identify important factors that
could cause actual actions, events or results or cause actions,
events or results not to be estimated or intended, there can be no
assurance that forward-looking statements will prove to be accurate
as actual results and future events could differ materially from
those anticipated in such statements. Other than as required by
applicable Canadian securities laws, Clarke does not update or
revise any such forward-looking statements to reflect events or
circumstances after the date of this document or to reflect the
occurrence of unanticipated events. Accordingly, readers should not
place undue reliance on forward-looking statements.
SOURCE Clarke Inc.