HALIFAX, Nov. 6, 2013 /CNW/ - Clarke Inc. ("Clarke") (TSX: CKI CKI.DB.A)
is pleased to announce the close of the sale of its 25% interest in
Bonnett's Energy Corp. ("Bonnett's") to BEC Acquisition Ltd., a
subsidiary of Mill City Capital LP. Clarke received $7.08 per common
share for total proceeds of $25.9 million.
The $7.08 sale price represents a 59% premium to the price of Bonnett's
shares on January 1, 2013. Clarke estimates that it will recognize a
net gain on the sale of marketable securities in the amount of $9.3
million in 2013 relating to the sale of Bonnett's.
About Clarke
Halifax-based Clarke invests in a variety of private and publicly-traded
businesses and participates actively where necessary to enhance
performance and increase its 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.
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. 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
forward-looking statements.
SOURCE Clarke Inc.
