/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
MONTREAL, Jan. 31, 2013 /CNW Telbec/ - Homburg Invest Inc. (NYSE
Euronext Amsterdam: HII) ("HII") announces that the listing of HII on NYSE Euronext Amsterdam will be
terminated as of 13 March 2013.
As a result of the filing for the Canadian Companies' Creditors Arrangement Act ("CCAA") in September 2011, NYSE Euronext allocated HII's ordinary shares to a
specific trading group in accordance with the NYSE Euronext rules. The
NYSE Euronext rules provide for an automatic delisting within a year of
allocation to the specific trading group, unless there is sufficient
evidence that steps for a restructuring have been implemented and are
expected to be effectuated within six months. NYSE Euronext Amsterdam
granted HII an extension of the listing for a period of six months in
The plan of arrangement under the CCAA (the "CCAA Plan"), as currently contemplated, provides for a cancellation of all
existing shares of HII with no recovery or payment to its shareholders.
It now becomes clear that with a successful emergence under the CCAA, a
listing of HII on NYSE Euronext Amsterdam is no longer required.
Therefore, HII will not request NYSE Euronext Amsterdam for an
extension of its listing by a second term of maximum six months.
The delisting of HII's ordinary shares will not affect the position of
the creditors of HII (including the bondholders). HII continues to
diligently pursue its restructuring efforts, with the assistance of the
Court appointed Monitor and their respective advisors, and is in the
process of finalizing the CCAA Plan. HII will be filing and presenting
the CCAA Plan to its creditors shortly. The position of bondholders
will be considered in an adequate manner with due regard to their
interest under the CCAA Plan. The CCAA Plan provides inter alia for emergence of a newly incorporated company taking over activities
About Homburg Invest
Homburg Invest owns a diversified portfolio of commercial real estate
including office, retail, industrial and development properties
throughout Canada, Europe and the United States.
SOURCE: HOMBURG INVEST
For further information:
NATIONAL Public Relations
Tel.: (514) 843-2313
Cohn & Wolfe
Tel.: 0031 (0)20 6768666