HALIFAX, March 25, 2013 /CNW/ - Clarke Inc. ("Clarke") (TSX: CKI CKI.DB.A) announced today that it has delivered to Supremex
Inc. ("Supremex") a proposal (the "Proposal") to acquire all of the outstanding shares of Supremex not already
owned by it or its affiliates for a purchase price of $1.20 per share
by way of a shareholder and court approved plan of arrangement.
Clarke updated its early warning report to reflect the delivery of the
Letter of Intent. Clarke and its affiliates currently hold 13,094,200
shares of Supremex, representing approximately 45.1% of the total
Clarke has indicated in the Proposal, among other things, that it does
not require an exclusivity period during which Supremex would be
precluded from discussing strategic transactions with third parties but
that Clarke will be reluctant to consider acquisition proposals for
Supremex from third parties.
Halifax-based Clarke invests in a variety of private and publicly-traded
businesses and participates actively where necessary to enhance
performance and increase return. Clarke's securities trade on the
Toronto Stock Exchange (CKI; CKI.DB.A); for more information about
Clarke, please visit our website at www.clarkeinc.com.
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. These forward-looking
statements include, but are not limited to, statements regarding the
trading price of the Company's securities not fully reflecting the
value of the Company's business.
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. Risks and uncertainties include, among
others, the Company's investment strategy, legal and regulatory risks,
general market risk, potential lack of diversification in the Company's
investments, and interest rates and foreign currency fluctuations.
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
SOURCE: CLARKE INC.
For further information:
Vice President Investments
6009 Quinpool Road, 9th Floor
Halifax, Nova Scotia B3K 5J7
Telephone: (902) 442-3000
Fax: (902) 442-0187