Clarke to sell remaining interest in ATS Andlauer

HALIFAX, — Clarke Inc., one of Canada’s largest for-hire carriers, announced it that has received a notice of exercise from Andlauer Management Group that requires Clarke to sell to AMG all of the shares that Clarke holds in ATS Andlauer Transportation Services Inc.

Clarke currently owns 30 percent of the outstanding shares of ATS — which provides North American transportation services through its wholly-owned subsidiary Concord Transportation, which was acquired from Clarke in December 2003. The remaining 70 percent is owned by AMG.

The notice of exercise was delivered pursuant to the terms of a Shareholders’ Agreement dated as of September 30, 2005, among AMG, Clarke and ATS Inc. The ATS shares will be sold to AMG at a price that represents fair market value. ATS also holds securities that are convertible into units representing 19.9 percent of the outstanding units of ATS Andlauer Income Fund.

This past March, Clarke relocated its national head office from Concord, Ont. near Toronto to Halifax, N.S.