TORONTO, Aug. 9, 2017 /CNW/ - Home Capital Group Inc.
("Home Capital" or "the Company") (TSX: HCG) today announced that
the Ontario Securities Commission ("OSC") issued an order approving
the previously announced settlement of an enforcement proceeding
commenced in April 2017 regarding the
Company's disclosure in 2014 and 2015.
As previously announced, the Company entered into two agreements
which comprise a global settlement of the OSC proceeding and
related class action with each settlement being conditional on the
approval of the other. The order approving the OSC settlement is
effective only upon the final court approval of the class action
settlement. A hearing to consider approval of the class
action settlement is scheduled for August
21, 2017.
Pursuant to the terms of the settlement agreement with the OSC,
Home Capital will not be making any further statements on this
matter outside of the approval proceedings.
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.