HALIFAX, July 14 /CNW/ - Clarke Inc. (the "Corporation", TSX-CKI,
TSX-CKI.DB, TSX-CKI.DB.A) announced today the final results of its previously
announced offer (the "Offer") to purchase for cancellation up to 6,500,000 of
its outstanding common shares ("Common Shares"), which expired at 5:00 p.m.
(Eastern Time) on Monday, July 14, 2008.
Based on the final report by the depositary for the Offer,
2,590,877 Common Shares were deposited as at the expiration of the Offer. The
Corporation will purchase for cancellation all 2,590,877 Common Shares
deposited (subject to adjustments to avoid the purchase of fractional Common
Shares) at a price of $6.75 per Common Share.
Payment for the Common Shares tendered and accepted for purchase will be
made as soon as practicable in accordance with the Offer.
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. For more information
about Clarke, please visit our website at www.clarkeinc.com.
Certain passages in this news release may contain forward-looking
statements about future operations, financial results, objectives and
strategies of the Company. Forward-looking statements are typically identified
by the words "believe", "expect", "anticipate", "intend", "estimate", and
similar expressions. These statements are necessarily based on estimates and
assumptions that are inherently subject to risks and uncertainties, many of
which are beyond Clarke's control.
Actual results may differ materially from expected results if known or
unknown risks affect the business, or if estimates or assumptions used in the
preparation of the consolidated financial statements and information and
analysis in this news release turn out to be inaccurate. As a result, there
can be no guarantee that any forward-looking statement will materialize.
Management disclaims any intention, and assumes no obligation, to update any
forward-looking statement, even if new information becomes available, as a
result of future events or for any other reason. Readers are urged to consider
these and other such factors carefully, and not place undue emphasis on
Clarke's forward-looking statements.
Further information can be found in the disclosure documents filed by the
Corporation with the securities regulatory authorities, available at
www.sedar.com or through the Corporation's website at www.clarkeinc.com.
For further information:
For further information: Melinda Lee, VP, Investments, Clarke Inc.,
(902) 442-3420, Fax: (902) 423-4001, Mlee@clarkeinc.com