TORONTO, May 13 /CNW/ - Home Capital Group Inc. (TSX: HCG) is pleased to
announce the ratification of the Shareholder Rights Plan by Home Capital's
shareholders at the Company's Annual and Special Meeting held earlier today.
The Plan was approved by 97.4% of the voting shareholders.
The purpose of the Shareholder Rights Plan is to provide the Board of
Directors of Home Capital with sufficient time to explore and develop
alternatives for maximizing shareholder value if a take-over bid is made for
the Company and to ensure that every shareholder has an equal opportunity to
participate in such a bid. The Shareholder Rights Plan is not intended to
deter take-over proposals.
Home Capital is not aware of any pending or threatened take-over bid for
The Shareholder Rights Plan is available for viewing through the Internet
at the Canada System for Document Analysis and Retrieval (SEDAR) at
www.sedar.com and on the Company's website at www.homecapital.com.
Home Capital Group Inc. is a public company, traded on the Toronto Stock
Exchange (HCG), operating through its principal subsidiary, Home Trust
Company. Home Trust is a federally regulated trust company offering deposit,
mortgage lending, retail credit and payment card services. Licensed to conduct
business across Canada, Home Trust has offices in Ontario, Alberta, British
Columbia, Nova Scotia and Quebec.
For further information:
For further information: Gerald M. Soloway, CEO; or Nick Kyprianou,
President, (416) 360-4663, www.homecapital.com