CLKFF - Clarke Inc. - Minor Discount Not Quite Big Enough
Note: All dollar values listed are in CAD unless otherwise stated.
Introduction
Clarke Inc. (CLKFF) is a Canadian investment firm/capital allocator. The firm attempts to identify investments that are either undervalued or underperforming. Clarke is not afraid to take a more activist approach and will involve management when it deems it necessary. The firm is a significant shareholder in TerraVest Capital (TRRVF) and Holloway Lodging (HLLOF) which have been previously written about here and here. For the sake of this analysis, I will assume both of those investments