Shares issued Class A - 17,094,489 Class B - 3,148,538
HALIFAX, Sept. 24 /CNW/ - (TSX: HII.A & HII.B and NYSE Euronext Amsterdam: HII) - The Netherlands Authority for the Financial Markets (AFM) today published an announcement on its website according to which a request for information had been issued to Homburg Invest Inc. (HII) on 29 April 2010 which had not been complied with in full within the 10-day compliance period. HII disputes the assertion that it only provided part of the information requested by the AFM. HII is of the opinion that it provided the AFM with all the information requested within the compliance period and it therefore intends to lodge an appeal with the Rotterdam district court against this measure. The fact that the AFM holds the view that only part of the requested information was provided is associated in particular with the notably vague way in which a number of questions were phrased in the request for information (in legal terms: the request for information was insufficiently specific and defined). For example, the AFM had requested an organizational chart of the group to which HII belongs. HII subsequently provided such an organizational chart within the stated deadline, noting that a certain part of the group structure allows for the conversion of shares into depositary receipts. Because the relevant notarial deeds relating to the issue of depositary receipts were not included along with the response to the request to provide an organizational chart, the AFM is of the opinion that the request for information was not complied with in full. It is inconceivable to HII that a reasonably acting regulator should avail itself of instruments of regulation, compliance and enforcement in the manner currently demonstrated by the AFM. HII complies with the laws and regulations applicable to it as an investment institution in the Netherlands and Canada. HII continues to aspire to good relations with the AFM in its capacity as regulator.
Homburg Invest Inc. owns and develops a diversified portfolio of quality commercial real estate including office, retail, industrial and development properties throughout Europe and the United States, as well as 41.3% of the units of Homburg Canada Real Estate Investment Trust. The head office of the Company is located in Halifax, Nova Scotia.
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.
%SEDAR: 00013330E
For further information: Mr. Richard Homburg, Chairman and CEO, Homburg Invest Inc., 902-468-3395; J. Richard Stolle, President and COO, Homburg Invest Inc., 31-20-573-3855
Share this article