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JC Clark Ltd. to Vote Against Proposed Going Private Arrangement Transaction Proposed by Tuckamore Capital Management Inc.

TORONTO, ONTARIO -- (Marketwired) -- 06/25/14 -- JC Clark Ltd. ("JC Clark"), a Toronto based investment firm, announced today that it will vote against the currently proposed arrangement involving Tuckamore Capital Management Inc. ("Tuckamore") whereby certain members of Tuckamore management together with certain funds of Birch Hill Equity Partners have offered to acquire all of the shares of Tuckamore for $0.75 per share.

JC Clark, on behalf of certain funds managed by it, currently owns or controls approximately 8.1% of the outstanding common shares of Tuckamore (a majority of which were owned or controlled as of the meeting record date for the proposed transaction).

JC Clark performed a detailed analysis of the business and prospects of Tuckamore, the proposed transaction terms and market reaction and has concluded that the $0.75 per share price substantially undervalues Tuckamore and is inadequate, from a financial point of view, to shareholders. JC Clark has an obligation to protect and enhance its clients' investments in Tuckamore, which we believe the proposed transaction fails to achieve.

JC Clark will consider using all available options to oppose the proposed transaction so as to allow Tuckamore shareholders to continue to participate in Tuckamore's business and thereby be able to realize a proper and fair value for their shares.

About JC Clark

JC Clark is a leading independent investment firm that provides discretionary investment management services for high net worth individuals and institutional investors. JC Clark's investment strategies are focused on long-term growth and preservation of capital. Founded in 2001, the firm is privately owned primarily by its employees, and is headquartered in Toronto, Canada.

JC Clark Ltd.
Colin F. Stewart
Chief Executive Officer & Portfolio Manager

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