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.
About Clarke
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.
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, 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.
