TSX: CKI; CKI.DB; CKI.DB.A
HALIFAX, Oct. 12 /CNW/ - Clarke Inc. ("Clarke") announces that it has
converted Cdn$5,452,000 in aggregate principal amount of Royal Host Real
Estate Investment Trust ("Royal Host") convertible unsecured debentures
("Debentures"), resulting in the acquisition of 908,667 units of Royal Host.
The Debentures were acquired by Clarke on September 19, 2007. Following
the conversion, Clarke holds 5,273,369 units of Royal Host, representing
approximately 19.19% of the outstanding units of Royal Host.
The Royal Host units held by Clarke and George Armoyan, the President and
Chief Executive Officer of Clarke, together total 5,314,569 units,
representing approximately 19.34% of the total outstanding units of Royal
The purchase of the Debentures that were converted to units by Clarke was
made through the facilities of the Toronto Stock Exchange for investment
purposes. Clarke may, from time to time, acquire additional Debentures or
units of Royal Host, dispose of some or all of the existing or additional
Debentures or units, or continue to hold Debentures or units of Royal Host in
the normal course of Clarke's investment activities.
Clarke is a Halifax-based activist and catalyst investment company with a
diversified portfolio of strategic and opportunistic investments, including
several wholly-owned subsidiaries operating in the transportation services
industry. From time to time, Clarke also participates in joint ventures when
they offer the opportunity to create shareholder value. Led by George Armoyan
and an entrepreneurial team of professionals focused on uncovering and
creating value, Clarke invests in undervalued businesses and participates
actively where necessary to enhance performance and increase returns. In 2006
alone, Clarke delivered a shareholder return on investment, including
dividends, of 33%. 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.
For further information:
For further information: Melinda Lee, Vice President Investments, Clarke
Inc., (902) 442-3420, Fax: (902) 423-4001