Homburg Invest settles disclosure issue with Nova Scotia Securities Commission
Shares issued: Â Class A - 17,094,490Â Â Â Class B - 3,148,538
HALIFAX, Nova Scotia. August 11, 2011 - (TSX: HII.A & HII.B and NYSE Euronext
Amsterdam: HII) - Homburg Invest Inc. ("Homburg Invest" or the "Company") said
today that, following a hearing held August 11, 2011 before the Nova Scotia
Securities Commission, that it acknowledges that it violated Section 18 of the
Nova Scotia Securities Act when the Company failed to file a News Release and a
Material Change Report in a timely manner with respect to an Instruction
received from the Netherlands Authority for Financial Markets on April
22, 2011. The Company filed such News Release and Material Change Report on May
30, 2011 following the dismissal of Homburg Invest's objection to the
Instruction by the District Court of Rotterdam in the Netherlands. The Company
has agreed to pay a $75,000 fine plus costs to settle the matter with the Nova
Scotia Securities Commission.
"Our decision not to disclose was made in good faith at the time, as the matter
was under appeal and subject to a Hearing before the Courts in the Netherlands,"
said Jan Schöningh, President and Chief Executive Officer. "In retrospect, we
now agree that we should have filed a News Release and Material Change report
upon the receipt of the Instruction and we accept responsibility for not having
done so."
About Homburg Invest
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 23.1% of the
units of Homburg Canada Real Estate Investment Trust. The head office of the
Company is located in Halifax, Nova Scotia.
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For further information, please contact:
Caroline Martel
NATIONAL Public Relations
(514) 843-2313
PDF version of the press release:
http://hugin.info/138798/R/1538103/469731.pdf
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Source: Homburg Invest Inc. via Thomson Reuters ONE
[HUG#1538103]