Clarke Announces Amendment to Normal Course Issuer Bid



    HALIFAX, June 30 /CNW/ - Clarke Inc. ("Clarke") today announced an
amendment to the normal course issuer bid for its 6% convertible unsecured
subordinated debentures ("Convertible Debentures") due December 31, 2013. The
normal course issuer bid relating to the Convertible Debentures was announced
on March 12, 2009. At that time the public float for the Debentures was
specified to be $65,985,500 in aggregate principal amount. This figure was
subsequently recalculated and determined to be $91,050,500 in aggregate
principal amount. Accordingly, the TSX has approved an amendment to the normal
course issuer bid, increasing the aggregate face amount of Convertible
Debentures available for repurchase to $9,105,000 in aggregate principal
amount, representing approximately 10% of the public float of $91,050,500 in
aggregate principal amount of the Convertible Debentures issued and
outstanding as at March 9, 2009. As at June 29, 2009, there was $88,481,500 in
aggregate principal amount of Convertible Debentures issued and outstanding.
To date, $6,598,000 in aggregate principal amount of Convertible Debentures
has been purchased under the current normal course issuer bid at a weighted
average price of $643.60 per $1,000 principal amount of Convertible
Debentures. Purchases commenced on March 17, 2009 and will terminate on March
16, 2010.
    From September 1, 2008 to February 28, 2009, the average daily trading
volume of Convertible Debentures was $24,411 in aggregate principal amount of
Convertible Debentures. Clarke may purchase daily up to 25% of the average
daily trading volume, which is $6,102 in aggregate principal amount, subject
to a weekly "block purchase" exemption. Any Convertible Debentures purchased
by Clarke pursuant to the Offer will be cancelled.

    About Clarke

    Halifax-based Clarke Inc., led by an entrepreneurial team of investment
professionals, is an activist and catalyst investment company that creates
shareholder value by identifying businesses with the potential for improved
performance, and working actively to uncover the value.
    Clarke's securities trade on the Toronto Stock Exchange (CKI, CKI.DB,
CKI.DB.A); for more information about Clarke Inc., please visit our website at
www.clarkeinc.com.
    %SEDAR: 00009934E




For further information:

For further information: Melinda Lee, Vice President Investments, Clarke
Inc., (902) 442-3420, Fax: (902) 423-4001


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