/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
HALIFAX, June 5 /CNW/ - Homburg Invest Inc. ("Homburg" or the "Company")
(TSX: HII.A & HII.B and AEX: HII) is pleased to announce that it has signed an
underwriting agreement with a syndicate of underwriters led by BMO Capital
Markets for an offering of 36,200,000 subscription receipts at a price of
$5.25 per subscription receipt for total gross proceeds of $190,050,000. Each
subscription receipt will represent the right to receive one Class A
Subordinate Voting Share of the Company (a "Class A Share") upon the approval
by the financial markets authority of The Netherlands of the prospectus filed
for the purpose of the listing of the Class A Shares issuable upon the
exchange of the subscription receipts on the Eurolist by Euronext Amsterdam.
The other members of the underwriting syndicate are CIBC World Markets Inc.,
RBC Dominion Securities Inc., National Bank Financial Inc., TD Securities
Inc., HSBC Securities (Canada) Inc., Wellington West Capital Markets Inc. and
Beacon Securities Ltd. The Company has granted the underwriters an option,
which may be exercised in whole or in part for a period of 30 days from
closing of the offering of subscription receipts, entitling them to purchase
up to a maximum of 5,430,000 additional subscription receipts to cover
over-allotments, if any, and for market stabilization purposes. This
information will be contained in the final short form prospectus that will be
filed today by Homburg with securities regulatory authorities in each of the
provinces and territories of Canada. The Company expects to close the offering
on or about June 13, 2007.
Homburg intends to use the net proceeds of the offering to repay a
portion of the senior and junior secured non-revolving bridge loans which were
put in place to finance the acquisition by Homburg Acquisition Inc., a
wholly-owned subsidiary of Homburg, of all of the issued and outstanding units
of Alexis Nihon Real Estate Investment Trust pursuant to the offer dated
February 27, 2007 at a price of $18.60 per unit, with the balance of the net
proceeds of the offering (if any) to be used for general corporate purposes.
This press release is not an offering of securities for sale in the
United States. The securities have not been registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an exemption from the registration
requirements of that Act. The securities may also not be offered or sold in
the European Economic Area.
Homburg, 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.
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.
For further information:
For further information: Mr. Richard Homburg, Chairman and CEO, (902)
468-3395; For information on Homburg Invest Inc., visit our website at