TORONTO, March 12 /CNW/ - Geosam Capital Inc. ("Geosam") announces that on March 12, 2010 it acquired Cdn$3,523,000 in aggregate principal amount of Clarke Inc. ("Clarke") convertible unsecured debentures due December 31, 2013 ("Debentures") at a cost of $87.00 per $100 of par value, bringing its total holdings in Clarke, on a converted basis, to 536,387 shares representing approximately 2.01% of the outstanding shares of Clarke on a converted basis.
The Clarke shares held by Geosam, Geosam Investments Limited, Scotia Learning Centres Inc., George Armoyan, the President of Geosam, and members of his immediate family with whom he resides, together total 9,662,738 shares on a converted basis, representing approximately 35.52% of the total outstanding shares of Clarke on a converted basis.
The purchase of the Debentures by Geosam was made through the facilities of the Toronto Stock Exchange for investment purposes. Geosam may, from time to time, acquire additional Debentures or other securities of Clarke, dispose of some or all of the existing or additional Debentures or other securities of Clarke, or continue to hold Debentures or other securities of Clarke in the normal course of Geosam's investment activities.
The issuance of this news release does not constitute an admission by Geosam that it is acting jointly or in concert with Geosam Investments Limited, Scotia Learning Centres Inc., Mr. Armoyan and members of his immediate family with whom he resides with respect to the securities of Clarke.
SOURCE Geosam Capital Inc.
For further information: For further information: Garen Mikirditsian, Investment Manager, Geosam Capital Inc., TD Canada Trust Tower, (416) 855-1928, Fax: (416) 640-1834