Home Capital Group Announces Special Meeting Results

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.

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