HALIFAX, July 18, 2013 /CNW/ - Clarke Inc. ("Clarke") (TSX: CKI CKI.DB.A) announces that it has acquired 3,500 shares of Royal Host Inc. ("Royal Host") at a price of $1.00 per share, and $160,000 principal amount of 5.90% convertible debentures maturing June 2014 ("Series D Debentures") at a price of $895 per $1,000 of principal, convertible into 25,848 common shares. On an as converted basis, such securities represent 0.18% of the common shares.
Clarke owns the following securities of Royal Host: 5,958,768 common shares, $1,095,000 principal amount of the 6.0% convertible debentures maturing October 2015 ("Series B Debentures"), convertible into 230,042 common shares, $3,322,000 principal amount of the 7.5% convertibles debentures maturing September 30, 2018 ("Series C Debentures"), convertible into 949,143 common shares, and $4,137,000 principal amount of the Series D Debentures, convertible into 668,336 common shares. On an as converted basis, such securities represent 42.83% of the common shares.
The purchase of the Royal Host shares and debentures by Clarke was made for investment purposes. Clarke may, from time to time, acquire additional shares and/or debentures of Royal Host, dispose of some or all of the existing or additional shares or debentures of Royal Host, or continue to hold the shares and debentures of Royal Host in the normal course of Clarke's investment activities.
Halifax-based Clarke Inc. invests in undervalued businesses and participates actively where necessary to enhance performance and increase return. Clarke's securities trade on the Toronto Stock Exchange (CKI, CKI.DB.A); for more information about Clarke Inc., please visit our website at www.clarkeinc.com.
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, statements regarding the trading price of the Company's securities not fully reflecting the value of the Company's business.
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 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.
For further information:
Vice President Investments
6009 Quinpool Road, 9th Floor
Halifax, Nova Scotia B3K 5J7
Telephone: (902) 442-3420
Fax: (902) 442-0187