Just Energy Receives Shareholder Proposals and Affirms Strategic Review
March 02 2020 - 7:00AM
Just Energy Group Inc. (“Just Energy”) or (the “Company”) (TSX:JE;
NYSE:JE) confirms that it received two shareholder proposals, on
February 28, 2020 – the deadline for shareholder proposals to be
included in the management information circular for the 2020 annual
general meeting of shareholders of the Company, by the Robert L.
Snyder Trust – 2005 Stream (“Snyder”). Pursuant to the shareholder
proposals, Snyder has proposed to increase the number of directors
of Just Energy from six to eight, and to nominate six directors as
candidates for election to the Just Energy Board of Directors (the
“Board”) at the Company’s 2020 Annual Meeting of Shareholders.
Just Energy values constructive input from all
of its stakeholders. Accordingly, the Board, along with the
Company’s financial and legal advisors, will consider and evaluate
the shareholder proposals. At this time, there is no action for
shareholders to take as a result of the shareholder proposals. The
Company will update shareholders in due course.
Just Energy’s previously announced strategic
review remains active and the Company expects to announce the
outcome of this review by June 30, 2020.
About Just Energy Group
Inc.
Just Energy is a 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 and Canada, Just Energy serves
residential and commercial customers. Just Energy is the parent
company of Amigo Energy, EdgePower Inc., Filter Group Inc., Hudson
Energy, Interactive Energy Group, Tara Energy, and TerraPass. Visit
https://investors.justenergy.com to learn more. Also, find us
on Facebook and follow us on Twitter.
FORWARD-LOOKING STATEMENTS This
press release may contain forward-looking statements including, but
not limited to, statements and information regarding the
shareholder proposals and courses of action, and the strategic
review and the timing for the outcome thereof. 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
Company’s ability to improve its business by boosting
efficiency and lowering costs, the success of the Company’s
cost reductions and optimization efforts, the ability of the
Company to reduce selling, marketing and general and administrative
expenses and the quantum of such reductions and the impact thereof
on the Company’s current fiscal year, the Company’s ability
to identify further opportunities to improve its cost
structure, 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 and 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:
Jim BrownChief Financial OfficerJust
Energy713-544-8191jbrown@justenergy.com
or
InvestorsMichael CummingsAlpha
IRPhone: (617) 982-0475 michael.cummings@alpha-ir.com
MediaBoyd ErmanLongview
CommunicationsPhone: 416-523-5885berman@longviewcomms.ca
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