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Published on 1/20/2009 in the Prospect News Special Situations Daily.

M/I Homes may restrict transfers of common shares to protect tax benefits

By Lisa Kerner

Charlotte, N.C., Jan. 20 - The board of directors of M/I Homes, Inc. said it wants to restrict certain transfers of the company's common shares to protect net operating losses and net unrealized built-in losses.

M/I Homes shareholders will be asked to approve restrictions to the Columbus, Ohio, homebuilder's code of regulations at a special meeting on or about March 13.

If adopted, the amendment would allow M/I Homes' board to approve exceptions to the restrictions, the company said.

The restrictions would terminate when the company's tax assets are used or expire, said M/I Homes.


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