HALIFAX, April 20 /CNW/ - Clarke Inc. ("Clarke") announces that it has
acquired 3,200 units of Madacy Entertainment Income Fund ("Madacy") bringing
its total holdings in Madacy to 870,200 representing approximately 11.54% of
the total outstanding units of Madacy.
The Madacy units held by Clarke and George Armoyan, the President and
Chief Executive Officer of Clarke, and members of his immediate family with
whom he resides, together total 915,200 units, representing approximately
12.14% of the total outstanding units of Madacy.
The purchase of the Madacy units by Clarke was made through the
facilities of the Toronto Stock Exchange for investment purposes. Clarke may,
from time to time, acquire additional units of Madacy, dispose of some or all
of the existing or additional units of Madacy, or continue to hold the units
of Madacy in the normal course of Clarke's investment activities.
The issuance of this news release does not constitute an admission by
Clarke that it is acting jointly or in concert with Mr. Armoyan and members of
his immediate family with whom he resides with respect to units of Madacy.
Clarke Inc. is the Halifax-based parent company of a number of
wholly-owned operating companies and divisions, and is an activist catalyst
investor with a diversified portfolio of strategic and opportunistic
investments. Clarke's operating companies are in the transportation services
business. 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, 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