TSX: CKI; CKI.DB; CKI.DB.A
HALIFAX, Oct. 28 /CNW/ - Clarke Inc. ("Clarke") announces that it has acquired indirect ownership of 4.9 million common shares of Overland Realty Limited ("Overland"). Such common shares comprise Clarke's total current position in Overland and represent approximately 13.95% of Overland's total outstanding common shares.
The purchase of Overland common shares by Clarke was made pursuant to a private placement of Overland common shares from treasury. Clarke holds the Overland common shares for investment purposes. The Overland private placement closed on October 28, 2009 and the common shares issued pursuant to the private placement are subject to a statutory hold period of four months from the date of the closing. Subject to Clarke's obligations arising under the statutory hold period, Clarke may, from time to time, acquire additional common shares of Overland, dispose of some or all of the existing or additional common shares of Overland, or continue to hold the common shares of Overland in the normal course of Clarke's investment activities.
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.
Note on Forward Looking Statements
This press release may contain or refer to certain forward-looking statements relating, but not limited to, Clarke's expectations, intentions, plans and beliefs with respect to Clarke. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "does not expect", "is expected", "budget", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or equivalents or variations, including negative variations, of such words and phrases, or state that certain actions, events or results, "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. Forward-looking statements include, without limitation, those made with respect to the purchase or disposition of Overland securities. Forward-looking statements rely on certain underlying assumptions that, if not realized, can result in such forward-looking statements not being achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of Clarke to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Although Clarke has attempted to identify important factors that could cause actual actions, events or results or cause actions, events or results not to be estimated or intended, there can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Other than as required by applicable Canadian securities laws, Clarke does not update or revise any such forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events. Accordingly, readers should not place undue reliance on forward-looking statements.
SOURCE Clarke Inc.
For further information: For further information: Melinda Lee, Vice President Investments, Clarke Inc., (902) 442-3420, Fax: (902) 442-0187