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HQ
4900 Tuttle Crossing Boulevard
Dublin, OH 43016-0993
Contact
Phone: 614-356-5000
Fax: 614-761-6139
Web site
http://www.dominionhomes.com
Employees
Full Time Employees: 193
Profile
Dominion Homes, Inc., together with its subsidiaries, constructs and sells single-family homes and condominiums in central Ohio, and Louisville and Lexington, Kentucky. It designs, sells, and builds single-family homes on finished lots, as well as purchases undeveloped land to develop into finished lots for home construction. The company offers six collections of homes, including Founders, Metropolitan, Independence, Celebration, Tradition, and Grand Reserve. The Founders collection provides communities and homes for entry-level buyers in selected geographic areas. The Metropolitan collection offers six attached two-story townhome designs that target the young and single home buyers. The Independence collection, a neo-traditional housing concept, consists of detached single-family homes located in communities. The Celebration collection offers a range of single-family traditional home designs. The Tradition collection provides single-family home designs for move-up home buyers. The Grand Reserve collection offers single-family designs, which target adults who need luxury patio homes built in private communities with amenities, such as pools and clubhouses. Dominion Homes also provides title insurance services through affiliated title insurance agencies; and mortgage financing services through a joint venture arrangement with Wells Fargo Bank, N.A. The company was founded in 1952. It was formerly known as Borror Corporation and changed its name to Dominion Homes, Inc. in 1997. Dominion Homes is based in Dublin, Ohio.
Officers
Mr. Douglas G. Borror, 52
Chairman, Chief Exec. Officer
Mr. William G. Cornely, 58
Chief Operating Officer, Chief Financial Officer, Principal Accounting Officer and Exec. VP Of Fin.
Mr. Jack L. Mautino, 44
Pres of Single Family Division
Mr. Stephan M. George, 51
Exec. VP and Pres - Louisville Kentucky
Mr. Terry E. George, 64
Sr. VP and Treasurer
Ownership
Shares Outstanding: 8.37M
Float: 275.58K
% Held by Insiders: 53.06%
% Held by Institutions: 14.70%
Important news
Monday, March 24, 2008
Dominion Homes' NASDAQ delisting set for March 31
Business First of Columbus - Business First
A week away from its NASDAQ delisting, Dominion Homes Inc. isn't extending any guarantees to shareholders that it will trade elsewhere as it closes a deal to go private in the next few months.
The Dublin-based homebuilder told investors its 90-day window to regain compliance with NASDAQ rules, which require the company maintain a minimum market value of $5 million for the previous 30 trading days, expired March 17 and its stock will be suspended at the opening of business March 31. Dominion also said it triggered another basis for delisting when it didn't separately announce within a seven-day window that its accountants in an annual filing questioned the company's ability to continue as a going concern in light of continued operating losses and credit problems.
While Dominion has the chance to appeal its delisting, executives said the homebuilder doesn't intend to request a hearing as its shares are likely eligible for trading on the OTC Bulletin Board, an over-the-counter trading market with stricter National Association of Securities Dealers regulations than the Pink Sheets. The company said it can't assure it will trade on any market after its NASDAQ delisting.
The original delisting notice arrived about a month before Dominion told shareholders it agreed to go private in a $2.9 million deal with two private-investment firms, set to close in the first half of the year. The buyout group includes the private-equity affiliate of New York-based Angelo Gordon & Co. LP and hedge fund Silver Point Capital LP of Greenwich, Conn. It also will include BRC Properties Inc., Dominion's largest shareholder with nearly 4 million shares.
BRC, controlled by the Borror family that founded Dominion, will not get any proceeds from the buyout.
Dominion (NASDAQ:DHOM) builds single-family houses and condos in Central Ohio and Louisville and Lexington, Ky. The company in 2007 lost $82.2 million on $148 million in revenue.
Merger announcement
...On January 18, 2008 the Company announced that it had entered into an Agreement and Plan of Merger (the "Merger Agreement") to be acquired by a buyout group consisting of companies affiliated with Angelo Gordon & Co., L.P. and Silver Point Capital L.P. and the Company's largest shareholder BRC Properties, Inc. Under the terms of the Merger Agreement the Company's shareholders (other than the buyout group) will receive $0.65 in cash for each Company common share. The transaction is expected to close in the first half of 2008 and it is subject to receipt of shareholder approval and satisfaction of customary closing conditions. Upon completion of the merger, the Company will cease to be a publicly traded company...
http://studio.financialcontent.com/Engine?Account=nj&GUID=4963761&Page=MediaViewer&ChannelID=3210
