Shares issued: Class A - 168,222,323 Class B - 31,510,782
Halifax, Nova Scotia, December 12, 2008 (TSX: HII.A & HII.B and NYSE
Euronext: HII (the "Shares") - Richard Homburg, Chairman and CEO of
Homburg Invest Inc. ("Homburg Invest") is pleased to announce that
the shareholders of Homburg Invest yesterday approved a consolidation
of the Class A Subordinate Voting Shares (the "Class A") and the
Class B Multiple Voting Shares (the "Class B").
Under the consolidation, each 10 pre-consolidation shares, whether of
Class A or Class B, will be exchanged for 1 post-consolidation share
in their respective class of share, either of Class A or Class B.
The terms for Class A and Class B shares remain otherwise unchanged
so for example, Class A shares remain entitled to 1 vote and Class B
shares remain entitled to 25 votes. Homburg Invest expects that the
consolidated shares will begin trading on the TSX and NYSE Euronext
on a post-consolidation basis within 7 to 10 days.
Homburg Invest, with its head office in Halifax, Nova Scotia, owns
and develops a diversified portfolio of quality real estate including
office, retail, industrial and residential apartment and townhouse
properties throughout Canada, the United States and Europe.
For further information, please contact:
Mr. Richard Homburg,
Chairman and CEO
Homburg Invest Inc.
902-468-3395
or
J. Richard Stolle
President and COO
Homburg Invest Inc.
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/1277290/284625.pdf
Copyright © Hugin AS 2008. All rights reserved.
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- HOMBURG INVEST SVA : announces shareholder approval of stock consolidation