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Home Capital Group Inc (HCG.TO)

HCG.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

‍West Face Confirms Draft Statement of Claim was Provided to Home Capital​
Tuesday, 28 Nov 2017 12:30pm EST 

Nov 28 (Reuters) - West Face Capital ::‍WEST FACE CAPITAL SAYS REVIEWED PRESS RELEASE ISSUED BY HOME CAPITAL AND CONFIRMS A DRAFT STATEMENT OF CLAIM WAS PROVIDED TO HOME CAPITAL​.‍WEST FACE CAPITAL SAYS IT ELECTED TO OPT OUT OF SETTLEMENT OF SECURITIES CLASS ACTION THIS PAST SUMMER AND RAISED ITS CLAIM WITH HOME CAPITAL DIRECTLY​.  Full Article

Home Capital Says Received Draft Statement Of Claim Prepared On Behalf Of West Face
Tuesday, 28 Nov 2017 07:00am EST 

Nov 28 (Reuters) - Home Capital Group Inc ::HOME CAPITAL - HAS RECEIVED DRAFT STATEMENT OF CLAIM PREPARED ON BEHALF OF WEST FACE.HOME CAPITAL GROUP - ‍WEST FACE LONG TERM OPPORTUNITIES GLOBAL MASTER LP OPTED OUT OF GLOBAL SETTLEMENT OF SECURITIES CLASS ACTION EARLIER THIS YEAR.HOME CAPITAL GROUP INC - ‍AMOUNT CLAIMED AS DAMAGES IN THE DRAFT STATEMENT OF CLAIM​ WOULD BE $70 MILLION.  Full Article

Home Capital Group Q3 ‍shr $ 0.37​
Tuesday, 14 Nov 2017 07:02pm EST 

Nov 14 (Reuters) - Home Capital Group Inc :Home Capital reports third quarter 2017 results.Qtrly ‍shr $ 0.37​.Home Capital Group Inc-qtrly ‍total loans under administration were $23.2 billion compared to $26.0 billion as a result of sale of loans and lower originations​.‍During Q3, company's expenses were in line with management expectations​.Home Capital Group - ‍now estimates that balance of non-securitized single-family residential mortgages will be about $10 billion at end of 2017.Home Capital Group-‍moving forward into q4 and h1 2018, expects to experience some continued elevated costs associated with liquidity event.Qtrly ‍net interest income​ $88.8 million versus $119.9 million last year.  Full Article

Home Capital Group files final universal base shelf prospectus
Thursday, 19 Oct 2017 09:51am EDT 

Oct 19 (Reuters) - Home Capital Group Inc ::Home Capital Group files final universal base shelf prospectus.Prospectus qualifies offerings of up to $750 million of securities over a 25-month period​.Prospectus was filed to satisfy Co's obligations under registration rights agreement entered into with unit of Berkshire Hathaway​.Universal base shelf prospectus not commitment to undertake any financing, nor does it intends to offer securities from treasury under prospectus.  Full Article

Home Capital exits non-core businesses including sale of payment services interactive gateway
Monday, 16 Oct 2017 02:54pm EDT 

Oct 16 (Reuters) - Home Capital Group Inc ::Home Capital exits non-core businesses including the sale of payment services interactive gateway.Expects approximately $20 million in annual salary and other operating cost savings​.‍Resulting impact to net income on a full year basis is insignificant from sale of assets​.Company expects reduction in fee and other income of approximately $18 million from sale of businesses​.Agreed to enter into a transition services agreement and will continue to provide services for certain clients for up to a year​.‍Does not expect any significant costs to complete sale transaction ​.  Full Article

Home Capital appoints Edward Karthaus as Executive VP, Residential Lending Sales
Tuesday, 3 Oct 2017 12:53pm EDT 

Oct 3 (Reuters) - Home Capital Group Inc ::Home Capital announces executive leadership changes.Company does not intend to fill Chief Operating Officer position​.Edward Karthaus will be joining Home Capital as Executive Vice President, Residential Lending Sales on October 10​.Pino Decina, Executive Vice President, Residential Lending has departed from his roles​.Chris Whyte, Executive Vice President & Chief Operating Officer has departed from his roles.‍Chris Whyte, Executive Vice President & Chief Operating Officer, has departed from co.  Full Article

Home Capital files preliminary universal base shelf prospectus
Wednesday, 20 Sep 2017 02:02pm EDT 

Sept 20 (Reuters) - Home Capital Group Inc ::Home Capital Group Inc files preliminary universal base shelf prospectus.When made final, filing to allow co to make offerings of up to $750 million of common shares, preferred shares, others.When final, universal base shelf prospectus will be effective for a 25 month period​.Base shelf prospectus to also qualify any secondary offering of common shares by Columbia Insurance Company, a Berkshire Hathaway​ unit.  Full Article

Home Capital Group announces special meeting results
Tuesday, 12 Sep 2017 11:33am EDT 

Sept 12 (Reuters) - Home Capital Group Inc ::Home Capital Group announces special meeting results.‍Meeting called to consider approval of additional equity investment in company by wholly-owned subsidiary of Berkshire Hathaway Inc.​.‍Shares representing over 88% of shares voted excluding shares held by Berkshire voted against resolution related to investment by Berkshire Unit​.  Full Article

Glass Lewis recommends Home Capital shareholders approve Buffett deal
Wednesday, 30 Aug 2017 11:45am EDT 

Aug 30 (Reuters) - Home Capital Group Inc :Proxy firm glass lewis recommends shareholders vote in favour of berkshire hathaway increasing home capital stake.  Full Article

Home Capital names Brad Kotush chief financial officer
Tuesday, 29 Aug 2017 06:30am EDT 

Aug 29 (Reuters) - Home Capital Group Inc :Home Capital names Brad Kotush chief financial officer.Home Capital Group Inc - ‍most recently, Kotush was executive vice president and chief financial and risk officer at Canaccord Genuity Group Inc​.Home Capital Group Inc - ‍Robert Blowes will step down from role of interim chief financial officer​.Home Capital Group - appointed Brad Kotush as executive vice president and CFO of co, units Home Trust Company and Home Bank, effective Sept 1, 2017​.Home Capital Group Inc - Blowes will remain a member of company's board of directors.  Full Article

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Home Capital says West Face to claim C$70 million in damages

Canadian mortgage lender Home Capital Group Inc said on Tuesday that West Face Long Term Opportunities Global Master LP had sent it a draft statement alleging misrepresentation and claiming C$70 million ($54.7 million) in damages.