Homburg Invest announces response to Richard Homburg's non-binding proposal
(Thomson Reuters ONE) -
Not for distribution to U.S. newswire services or for dissemination in the
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HOMBURG INVEST ANNOUNCES RESPONSE TO RICHARD HOMBURG'S NON-BINDING PROPOSAL
Shares issued: Class A - 17,034,489 Class B - 3,104,838
HALIFAX, July 25, 2011 - (TSX: HII.A HII.B) (AEX:HII) - Homburg Invest Inc.
("HII") announced today that its board of directors (the "Board") has
unanimously determined that the unsolicited non-binding proposal submitted by
Richard Homburg to HII which was announced on June 7, 2011 (the "Proposal") is
not in the best interests of HII.
Upon receipt of the Proposal, an independent committee of the Board (the
"Committee") met to consider the Proposal with its independent financial and
legal advisors. After careful consideration, including of the report and
recommendation of the Committee, the Board has determined that the Proposal in
its current form is not in the best interests of HII as it cannot be implemented
as proposed. Deloitte & Touche L.L.P. acted as independent financial advisor and
McCarthy Tétrault LLP acted as independent legal counsel to advise the Committee
in connection with the Proposal.
The Board and the Committee remind the shareholders of HII that no formal offer
has been made for the shares of HII. The Board, the Committee and the management
of HII remain committed to act in the best interest of HII and will provide
additional information, if any, to shareholders when appropriate.
About Homburg Invest
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 :
Paul de la Plante
NATIONAL Public Relations
514 843-2332
PDF version of the press release:
http://hugin.info/138798/R/1533534/467164.pdf
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Source: Homburg Invest Inc. via Thomson Reuters ONE
[HUG#1533534]
Unternehmensinformation / Kurzprofil:
Datum: 26.07.2011 - 15:12 Uhr
Sprache: Deutsch
News-ID 56719
Anzahl Zeichen: 2814
contact information:
Town:
Halifax
Kategorie:
Business News
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