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Clarke to renew issuer bid for common shares

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Clarke to renew issuer bid for common shares

Canadian asset manager Clarke Inc. has received approval from the Toronto Stock Exchange to buy up to 627,514 of its common shares, representing 5% of its total outstanding common shares as of May 31.

Clarke is allowed to purchase shares through the TSX or any Canadian alternative trading system. The average trading volume of Clarke's common shares from Dec. 1, 2017, to May 31, 2018, was 5,815 common shares. Under TSX rules, on any trading day, the company is allowed to buy up to 25% of the average daily trading volume of the respective class of shares.

Any common shares bought by Clarke pursuant to the share issuer bid will be canceled.

Clarke has established an automatic securities purchase plan for the share issuer bid. Purchases under the plan may commence June 8 and will terminate June 7, 2019.