HALIFAX, Nov. 27, 2012 /CNW/ - On November 26, 2012, Scotia Learning Centres Incorporated ("SLC") acquired 709,123 shares of Clarke Inc. ("Clarke") at a cost of $4.50 per share, representing approximately 4.2% of the outstanding shares of Clarke, bringing SLC's total holdings in Clarke to 1,913,133 shares representing approximately 11.4% of the outstanding shares of Clarke.
The Clarke shares held by Simé Armoyan, the indirect owner of SLC, and members of her immediate family with whom she resides, own, directly or indirectly, 8,068,607 shares of Clarke, representing approximately 48.3% of the outstanding shares of Clarke.
SLC purchased the shares through the facilities of the Toronto Stock Exchange for investment purposes. SLC may, from time to time, acquire additional shares or other securities of Clarke, dispose of some or all of the existing or additional shares or other securities of Clarke, or continue to hold shares or other securities of Clarke in the normal course of SLC's investment activities.
In purchasing the shares referred to above, SLC relied on the normal course purchase exemption from the formal take-over bid rules set out in Section 100 of the Securities Act (Ontario). SLC was entitled to rely on this exemption because each of the conditions set out in Section 100 of the Securities Act (Ontario) was satisfied.
The issuance of this news release does not constitute an admission by SLC that it is acting jointly or in concert with any other parties referred to in this press release with respect to shares of Clarke.
SOURCE: Scotia Learning Centres
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