TORONTO, Sept. 12, 2017 /CNW/ - Home Capital Group
Inc. ("Home Capital" or the "Company") (TSX: HCG) today announced
the voting results from its special meeting of shareholders held
Tuesday, September 12, 2017 in
Toronto, Ontario (the
"Meeting").
The Meeting was called to consider approval of an additional
equity investment in the Company by a wholly-owned subsidiary of
Berkshire Hathaway Inc. ("Berkshire"). The full text of the
shareholder resolution (the "Shareholder Resolution") is attached
as Schedule "A" to the management information circular of the
Company dated August 10, 2017, which
was mailed to shareholders prior to the Meeting.
The Shareholder Resolution was subject to approval by not less
than a majority of the votes cast by shareholders at the Meeting,
excluding Berkshire. Shares representing more than 88% of the
shares voted at the Meeting (which excluded the shares held by
Berkshire) voted against the Shareholder
Resolution.
"We respect the decision our shareholders made today. This
decision is a clear message that the majority of our shareholders
believe that Home Capital's improved deposit inflows and liquidity
position diminish the need for additional capital. We are pleased
to still have Berkshire as our largest shareholder," said
Brenda Eprile, Chair of the
Board.
Detailed voting results for the meeting will
be available under Home Capital's profile on SEDAR at
www.sedar.com.
Caution Regarding Forward-looking Statements
This press release contains forward-looking information within the
meaning of applicable Canadian securities legislation. Please refer
to Home Capital's 2016 Annual Report, available on Home Capital's
website at www.homecapital.com, and on the Canadian Securities
Administrators' website at www.sedar.com, for Home Capital's
Caution Regarding Forward-looking Statements.
About Home Capital Group Inc.
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 residential and non-residential mortgage lending,
securitization of insured residential mortgage products, consumer
lending and credit card services. In addition, Home Trust offers
deposits via brokers and financial planners, and through its direct
to consumer deposit brand, Oaken Financial. Home Trust also
conducts business through its wholly owned subsidiary, Home Bank.
Licensed to conduct business across Canada, Home Trust has offices in Ontario, Alberta, British
Columbia, Nova Scotia,
Quebec and Manitoba.
SOURCE Home Capital Group Inc.
