TSX: CKI; CKI.DB; CKI.DB.A
HALIFAX, Dec. 12 /CNW/ - Clarke Inc. ("Clarke") announces that it has
acquired 180,000 units of TerraVest Income Fund ("TerraVest"), bringing its
total holdings in TerraVest to 2,587,100 units, representing approximately
14.68% of the total outstanding units, and approximately 13.59% of the voting
rights attached to all issued and outstanding securities of TerraVest.
The TerraVest units held by Clarke and George Armoyan, the President and
Chief Executive Officer of Clarke, together total 2,595,600 units,
representing approximately 14.73% of the total outstanding units, and
approximately 13.63% of the voting rights attached to all issued and
outstanding securities of TerraVest.
The purchase of the TerraVest 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 TerraVest, dispose of some or
all of the existing or additional units of TerraVest, or continue to hold the
units of TerraVest 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 with respect
to units of TerraVest.
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