Clarke ends substantial issuer bid for its 6% convertible debentures

By Susanna Moon

Chicago, Nov. 10 - Clarke Inc. said investors tendered $9,336,000 principal amount of its 6% convertible unsecured subordinated debentures, series 2, due Dec. 31, 2013.

The substantial issuer bid for the convertibles expired at 5 p.m. Nov. 10. The amount tendered was unchanged as of Oct. 26.

Clarke announced the offer on Sept. 16, saying it would buy up to C$25 million of the debentures at C$750 per C$1,000 principal amount. It will also pay accrued interest.

Alexandra Global Master Fund Ltd. has agreed under a lock-up agreement to tender C$6 million of convertibles.

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

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