Just Energy Group Inc. Announces Strategic Review Process
June 06 2019 - 7:00AM
Just Energy Group Inc. Announces Strategic Review Process
Just Energy Group Inc. (“Just Energy” or the “Company”) today
announced that its Board of Directors has decided to undertake a
formal review process to evaluate strategic alternatives available
to the Company (the “Strategic Review”). This decision follows
expressions of interest from a number of parties concerning
potential transactions involving the Company.
The Board of Directors has appointed its
Strategic Initiatives Committee, comprised of all of the
independent directors, to oversee the Strategic Review, with the
assistance of Guggenheim Partners, LLC and National Bank Financial
Inc., who have been retained as co-financial advisors.
Rebecca MacDonald, Executive Chair of the Company said, “The
Board’s goal is to unlock shareholder value with a view to the best
interests of Just Energy and all its stakeholders.”
This Strategic Review is not expected to have an
impact on customers, suppliers or employees of Just Energy, nor on
its operations, which are continuing as usual.
The Company has not established a definitive
timeline to complete the Strategic Review, no decisions related to
any strategic alternative have been reached at this time and there
is no assurance that a transaction will result from the Strategic
Review. The Company does not intend to comment further with respect
to the Strategic Review unless and until it determines that
additional disclosure is appropriate in the circumstances and in
accordance with the requirements of applicable securities laws.
About Just Energy Group
Inc.
Just Energy is a leading consumer company
focused on essential needs, including electricity and natural gas
commodities; health and well-being, such as water quality and
filtration devices; and utility conservation, bringing energy
efficient solutions and renewable energy options to consumers.
Currently operating in the United States, Canada and the United
Kingdom, Just Energy serves residential and commercial customers.
Just Energy is the parent company of Amigo Energy, EdgePower Inc.,
Filter Group Inc., Green Star Energy, Hudson Energy, Interactive
Energy Group, Just Energy Advanced Solutions, Tara Energy, and
terrapass. Visit https://investors.justenergy.com/ to learn
more.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking
statements, including with respect to the Strategic Review and the
ability to unlock shareholder value. These statements are based on
current expectations that involve a number of risks and
uncertainties which could cause actual results to differ from those
anticipated. These risks include, but are not limited to the
results of the Strategic Review and whether any transaction will
result therefrom or otherwise be implemented by the Company,
general economic and market conditions, levels of customer natural
gas and electricity consumption, rates of customer additions and
renewals, rates of customer attrition, fluctuations in natural gas
and electricity prices, changes in regulatory regimes, results of
litigation and decisions by regulatory authorities, competition and
dependence on certain suppliers. Additional information on these
and other factors that could affect Just Energy's operations,
financial results or dividend levels are included in Just Energy's
annual information form and other reports on file with Canadian
securities regulatory authorities which can be accessed through the
SEDAR website at www.sedar.com, on the U.S. Securities Exchange
Commission’s website at www.sec.gov or through Just Energy's
website at www.justenergygroup.com.
Neither the Toronto Stock Exchange nor the New
York Stock Exchange has approved nor disapproved of the information
contained herein.
FOR FURTHER INFORMATION PLEASE
CONTACT:
Mark HanrahanChief Strategy OfficerPhone: (416)
367-2238mhanrahan@justenergy.com
or
Michael CummingsInvestor RelationsPhone: (617)
982-0475michael.cummings@alpha-ir.com
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