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Homburg Invest Inc. announces acquisition of 13,127,042 shares by Homburg Group

  • Published: 2008-11-21

Shares issued:  Class A - 168,412,323    Class B - 31,514,782
 
Halifax, Nova Scotia, November 21, 2008 (TSX: HII.A & HII.B and NYSE Euronext Amsterdam: HII)- Mr. Richard Homburg, Chairman and CEO of Homburg Invest Inc. ("Homburg Invest" or "HII") announces that through Homburg Finance AG of Zurich Switzerland, part of the Homburg Group of Companies under the control of Mr. Richard Homburg, 13,127,042 Class A Shares in Homburg Invest acquired at the market price of €1.03 from an European Investment Group in a private transaction.  Mr. Homburg is quoted as stating:
 
I believe in HII, in its management and staff, its world class quality assets and ongoing development projects and I am not just talking; I am acting on that.  There are opportunities everywhere in this financial crisis but I can not think of a better opportunity than in the company that I founded and created. 
 
Mr. Homburg also noted that HII previously announced on 15 October 2008, that it had acquired regulatory approval to launch a normal course issuer bid.  HII does not feel that current market prices reflect the underlying value of HII and therefore has acquired regulatory approval to acquire 10% of Class A Shares and up to 5% of Class B Shares.  Under the Exchange Rules and Policies, Homburg Invest is entitled to purchase up to a maximum of 47,538 Class A Shares and 1000 Class B Shares on any one trading day.  Please see the press release dated 15 October 2008 for further details.
 
Homburg, with its head office in Halifax, Nova Scotia, is an international real estate investment and development company that owns a diversified portfolio of quality real estate, including office, retail, industrial and residential apartment and townhouse properties in Canada, Europe and the United States.  The Company also owns land assets for development in Calgary and Edmonton, Alberta; Montreal, Quebec; and Charlottetown, Prince Edward Island.  In 2007, Homburg completed significant acquisitions totaling over approximately CAD$ 1.1 billion and as of December 31, 2007 has assets of over CAD$ 3.8 billion with an approximate aggregate of 18.2 million square feet of gross leasable area.
 
-30-
 
 
For further information, please contact:
 
Mr. Richard Homburg,
Chairman and CEO
Homburg Invest Inc.
902-468-3395
 
or
 
Richard Stolle
President and COO
Homburg Invest Inc.
011 31 20 573 3855
 
 
This news release may contain statements which by their nature are forward looking and express the Company's beliefs, expectations or intentions regarding future performance, future events or trends. Forward looking statements are made by the Company in good faith, given management's expectations or intentions however, they are subject to market conditions, acquisitions, occupancy rates, capital requirements, sources of funds, expense levels, operating performance and other matters. Therefore, forward looking statements contain assumptions which are subject to various factors including: unknown risks and uncertainties: general economic conditions; local market factors; performance of other third parties; environmental concerns; and interest rates, any of which may cause actual results to differ from the Company's good faith beliefs, expectations or intentions which have been expressed in or may be implied from this news release. Therefore, forward looking statements are not guarantees of future performance and are subject to known and unknown risks. Information and statements in this document, other than historical information, should be considered forward-looking and reflect management's current views of future events and financial performance that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially include, but are not limited to, the following: general economic conditions and developments within the real estate industry, competition and the management of growth. The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.
 

Canada

32 Akerley Blvd
Dartmouth, Nova Scotia B3B 1N1
Canada

(+1) 902.468.4231ir@hinvest.ca