Homburg Invest Inc. announces that the major shareholders, being Partex East B.V. and Partex West B.V. of DIM Vastgoed N.V. have committed to sell at least 30% of their interest (representing approximately 11% of DIM Vastgoed as a whole) to Homburg Invest.
As announced in our press release of October 26, 2005 Homburg Invest proceeded with its attempts to acquire all or a substantial part of the DIM Vastgoed shares held by the Partex Entities.
Management of the Partex Entities has enabled each of the stakeholders in the Partex Entities to decide whether the DIM Vastgoed shares indirectly held by each of such stakeholders should be sold to Homburg Invest under its offer. Homburg Invest has offered a cash payment of USD 20.60 per DIM Vastgoed share (payable in 2005). Alternatively the shareholders have the opportunity to opt for a payment in 2010 of either (a) an amount of USD 21.20 in cash or (b) 6.5 Class A Subordinate Voting Shares of Homburg Invest (currently valued at CAD 4.50 per share) for each DIM Vastgoed share tendered. The option of payment in shares of Homburg Invest shall be available only to stakeholders in the Partex Entities indirectly holding at least 4,320 DIM Vastgoed shares representing a value, both currently and at the time of payment, of at least 50,000.
Homburg Invest's offer was made under the condition that at least 30% of the DIM Vastgoed shares held by the Partex Entities would be tendered under the offer. Since the 30% threshold has been met, the offer of Homburg Invest for the remaining part of the DIM Vastgoed shares held by the Partex Entities is now unconditional.
The stakeholders in the Partex Entities have the opportunity to tender their DIM Vastgoed shares until December 16, 2005.
Source: Homburg
