News releases: archive

Shares issued:  Class A - 168,412,323    Class B - 31,514,782

 

Halifax, Nova Scotia, December 2, 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 HII has filed a Material Change Report and Early Warning Report in respect of the recent acquisition previously announced by Mr. Richard Homburg of 13,127,042 Class A Subordinate Voting Shares (the "Acquisition") through Homburg Finance AG of Zurich Switzerland, a company controlled by Mr. Richard Homburg.  The Acquisition represents:

 

1) 7.8% of the issued and outstanding Class A Subordinate Voting Shares; representing 1.4% of the total aggregate votes in the Issuer; and

 

2) After giving effect to the Acquisition, Mr. Richard Homburg, will own or control 67,454,480 Class A Subordinate Voting Shares and 24,745,277 Class B Multiple Voting Shares (the "Class B Shares") in the Issuer. Each Class A share represents one vote and each Class B share represents 25 votes. In aggregate, Mr. Richard Homburg will own or control 40.05% of the votes entitled to be cast in connection with Class A shares and 78.52% of the votes entitled to be cast in connection with Class B shares for a total 71.75% of outstanding votes entitled to be cast in the Issuer. 

 

 

Mr. Homburg again noted, that HII previously announced on 15 October 2008, that it had acquired regulatory approval to launch a normal course issuer bid as management of 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.

 

HII will also hold a special shareholder's meeting on December 11, 2008 to consider management's proposal to consolidate the shares of HII at a ratio of 1 new share for every existing 10 shares. This ratio would apply equally to all classes of shares.  Further information on the proposal is available in management's information circular available at www.homburginvest.com or www.sedar.com

 

 

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.

 

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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