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.
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
http://hugin.info/138798/R/1272232/282342.pdf
Copyright © Hugin AS 2008. All rights reserved.
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- HOMBURG INVEST SVA : announces acquisition of 13,127,042 shares by Homburg Group