Printer Friendly

Lahaina Appoints Florian Homm as New Director to the Board.

Business Editors

ATLANTA--(BUSINESS WIRE)--Oct. 31, 2001

Lahaina Engages German Investment Banking Company to List Shares On

German Stock Exchange

Lahaina Acquisitions, Inc. (OTCBB: LAHA) today announced the appointment of Florian Homm, award-winning fund manager, entrepreneur, and capital markets expert to its Board of Directors.

Mr. Homm helmed the asset management and investment banking firm Value Management & Research AG, which he founded in 1993. The company went public on the Frankfurt Stock Exchange in 1998 and reached a peak market capitalization of about $500 million. Mr. Homm is featured in Who's Who in Europe.

Mr. Homm has received numerous investment awards. He has been ranked as the number one specialty fund manager in the United States, the number one balanced fund manager in Germany, and the number one fund manager for European equities in Switzerland and Germany, according to sources such as Micropal, Standard & Poors, Lipper, Finstat, and BVI.

As investment banker and venture capitalist, he has backed more than fifty private and public companies in North America and Europe, several of which achieved market capitalizations exceeding $1 billion. He graduated from Harvard University with a Bachelor's degree in Economics cum laude, and earned a Master of Business Administration degree from Harvard Business School.

Prior to VMR, Mr. Homm was Managing Partner in the European division of Tweedy Browne, one of the oldest and most successful value managers. At Fidelity Management and Research, where Mr. Homm worked as a securities analyst and portfolio manager, the legendary fund manager Peter Lynch called him "one of the firm's best stock pickers."

Mr. Homm will focus on raising the company's standing among investors while providing corporate finance advice and strategy.

In a related engagement, Lahaina is retaining VEM AG, a German investment bank based in Munich, to list its shares on the German market. VEM is the leading investment bank for online initial public offerings (IPO) in Europe. Last year, the bank participated in over 27 IPO syndicates, primarily as Co-Manager. VEM has approximately 100,000 retail customers and extensive contacts in the financial community. Specifically, VEM will assure research and media coverage as well as the Internet to raise the company's profile among investors. Scott Demerau, CEO of Lahaina Acquisitions, Inc., commented, "Florian Homm brings capital market know-how, visibility, and credibility to our board. The addition was a function of Lahaina achieving solid profits, streamlining the balance sheet, and attracting established entrepreneurs and operators such as Bill McCord to our board. VEM is one of the most suitable partners for retail investors in Germany."

Mr. Homm explains, "Lahaina is a direct beneficiary of lower interest rates and the associated US re-financing boom. Earnings are increasing while the economy is slipping. The company is an investment paradox. The shares are at all time lows while the balance sheet, management, earnings quality, and outlook have never been better. Mortgage originators should continue to prosper in this period of heavy re-financing.

"By listing the shares on a demanding and credible stock exchange, Lahaina and its investors in Europe benefit in a number of ways. Listing activity is at a virtual standstill, but a high-growth, non-cyclical company such as Lahaina will attract attention. Moreover, investors will enjoy trading and settlement convenience due to one currency and one time zone while avoiding double charges on commissions. Lahaina will gain from a larger shareholder base, higher trading volumes, and ultimately a better capital structure."

Statements made in this press release, other than those concerning historical information, should be considered forward-looking and subject to various risks and uncertainties. Such forward-looking statements are made based on management's belief as well as assumptions made by, and information currently available to, management pursuant to the `safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. Lahaina Acquisitions, Inc. actual results may differ materially from the results anticipated in these forward-looking statements as a result of a variety of factors, including those identified in Lahaina Acquisitions, Inc. Annual Report on Form 10-K for the fiscal year ended September 30, 2000 and it's Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission.
COPYRIGHT 2001 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Oct 31, 2001
Words:684
Previous Article:CVS Executive VP and CFO David B. Rickard Elected to Harris Corporation Board of Directors.
Next Article:First Security State Bank Gains Productivity Through NSO Branch Automation Solutions.
Topics:


Related Articles
HAWAII WOWING AUDIENCES IN MAUI.
HAWAII WOWING AUDIENCES IN MAUI.
UCLA TOO MUCH BRUINS WEAR DOWN HOUSTON IN SEASON OPENER UCLA 71, HOUSTON 60.
UCLA TOO MUCH BRUINS WEAR DOWN HOUSTON IN SEASON OPENER UCLA 71, HOUSTON 60.
SC UPDATE: NATION TO SEE USC-N.C.
GRUDZIELANEK IS ARRESTED ON MAUI.
FLORIAN MASTERS THE FUNDAMENTALS.
LAID-BACK LAHAINA IS A WHALE OF A WHALING TOWN.
LAID-BACK LAHAINA IS A WHALE OF A WHALING TOWN : ON LOCATION.

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters