NOVEMBER 2015 1
Disclaimer Desarrolladora Homex, S.A.B. de C.V. (“Homex” or the “Company”) corporate presentations and all other written materials may from time to time contain statements about expected future events and financial results that are forward-looking and subject to risks and uncertainties. Projections are included herein. Such projections have not been examined by auditors. The projections and other material set forth herein contain certain statements that are “forward-looking statements”. These statements are subject to a number of assumptions, risks, and uncertainties, many of which are and will be beyond the control of the Company, including the continuing availability of sufficient borrowing capacity or other financing to fund future principal payments of debt, existing and future governmental regulations and actions of government bodies, natural disasters and unusual weather conditions and other market and competitive conditions. These statements speak as of the date indicated and are not guarantees of future performance. Actual results or developments may differ materially from the expectations expressed or implied in the forward- looking statements, and the Company undertakes no obligation to update any such statements. The projections, while presented with numerical specificity, are necessarily based on a variety of estimates and assumptions which, though considered reasonable by the Company, may not be specificity, are necessarily based on a variety of estimates and assumptions which, though considered reasonable by the Company, may not be realized and are inherently subject to significant business, economic, competitive, industry, regulatory, market and financial uncertainties and contingencies, many of which are and will be beyond the Company’s control. The Company cautions that no representations can be made or are made as to the accuracy of the historical financial information or the projections or to the Company’s ability to achieve the projected results. Some assumptions may prove to be inaccurate. Moreover, events and circumstances occurring subsequent to the date on which the projections were prepared may be different from those assumed, or, alternatively, may have been unanticipated, and thus the occurrence of these events may affect financial results in a materially adverse or materially beneficial manner. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors can cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include economic and political conditions and government policies in Mexico or elsewhere, including changes in housing and mortgage policies, inflation rates, exchange rates, regulatory developments, customer demand and competition. For those statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Discussion of factors that may affect future results is contained in our filings with the Securities and Exchange Commission.
I. INTRODUCTION I. INTRODUCTION 3
I I N T R O D U C T I O N Homex is a Mexican home developer company focused in the Affordable Entry level and Middle Income level through the construction of successful communities. � On April, 2014 Homex filed a request for a pre-packaged Concurso Mercantil proceeding � On July 7 th , 2015, the First District Court issued a judgment approving the “Convenios Concursales” (reorganization plans) presented by Homex, which were previously supported by the requisite majorities of recognized creditors. This resolution completes the Company’s Concurso Mercantil legal proceeding. � On October 23, Homex initiated its restructuring and reactivation process. The Company received a capitalization for Ps.1,750 million in the form of a convertible bond. With this capitalization the Company expects: � To have access to two revolving credit lines with Adamantine (up to Ps.1,850 million) � � To have access to a credit line with INFONAVIT for infrastructure construction at housing developments for Ps.350 million To have access to a credit line with INFONAVIT for infrastructure construction at housing developments for Ps.350 million � Update investments at projects to reactivate more bridge loans with Santander � The Company has performed a rigorous revision of the local housing market dynamics and selected the projects that will be reactivated based on cash flow considering a conservative sales rhythm. � The housing projects that will be reactivated as well as the land reserve of Homex are aligned to the National Housing Policies. � The Company will continue to be focused on the affordable entry level segments, where today exists a large demand of at least 9 million housing actions. 4
II. RECAPITALIZATION / RE STRUCTURING PLAN II. RECAPITALIZATION / RE STRUCTURING PLAN 5
I I R E C A P I T A L I Z A T I O N / R E S T R U C T U R I N G P L A N RECAPITALIZATION/ RE STRUCTURING PLAN � On October 23, 2015 the Company successfully emerged from its Concurso Mercantil proceeding. Homex is the first public company to conclude a successful restructuring under the reformed Concursos law. � The start of Homex restructuring plan implies different procedures that include: 1. Reverse split from the total shares representing the capital stock of Homex, performed a reverse split at a ratio of 10 to 1, thus the 335,869,550 shares where reduced to 33,586,955 shares. 2. Capital Increase in the amount of Ps.28,466 million pesos, represented by 302,282,595 ordinary shares, which were issued with the objective of delivering them to Homex common creditors recognized by the Company as partial payment of the capitalized balance of its common credits, precisely in terms and in Company as partial payment of the capitalized balance of its common credits, precisely in terms and in full compliance with that provided for in the respective Convenios Concursales. 3. Capital Increase in the amount of Ps.124,396 million represented by 124,396,130 ordinary shares, that were issued to establish an Option Plan for Homex common creditors, according and in line with the implementation of the respective Convenios Concursales. 4. Capital Increase in the amount of Ps.414,654 million pesos represented by 414,653,767 ordinary shares to be used to establish a Management Incentive Plan to be implemented by its Board of Directors. 5. Capital increase in its variable portion in the amount of Ps.1,750 million to be represented by 783,695,617 ordinary shares. These shares will be kept at treasury for the issuance of a convertible bond in shares. 6
I I R E C A P I T A L I Z A T I O N / R E S T R U C T U R I N G P L A N � Derived from the Reverse Split and Capital Increases performed by the Company the Proforma Stockholder structure is as follows: Number of % of Shares Total Shares reverse split 33,586,955 2% Shares Common creditors 1 considered on 302,282,595 18% the Public Float Options for Common Creditors 2 124,396,130 8% at the Mexican Stock Management Incentive Plan 3 414,653,767 25% Exchange Convertible Bond 4 783,695,617 47% TOTAL 1,658,615,064 100% 1 The Company is currently in the process of delivering the corresponding shares to common creditors 2 The Options for Common Creditors are held at a trust therefore these shares are not part of the free float of the Company. The first package of options which represents the 50% of the total are eligible to be vested when the Company has a market cap of Ps.12.5 billion. The second package of options which represents the 50% of the total are eligible to be vested when the Company has a market cap of Ps.15.0 billion. 3 The incentive Plan of the Management Team is a 5 year plan, which is subject to the achievement of operative objectives according to the approved Business Plan. On October 2015, effective data of the re structure and according to the approved plan, 82.9 million shares were granted which are eligible to be vested until December 31, 2016. Mean while the shares are not delivered and vested do not form part of the public float of the Company. 4 The Convertible bond has a 7 year maturity and is eligible to be converted from December 31, 2016. 7
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