Just Energy Receives Shareholder Meeting Requisition
March 18 2020 - 7:55AM
Just Energy Group Inc. (“Just Energy”) or (the “Company”) (TSX:JE;
NYSE:JE) confirms that on March 17, 2020 it received a letter from
the Robert L. Snyder Trust – 2005 Stream (“Snyder”), a shareholder
beneficially holding more than 5% of the common shares of Just
Energy, requisitioning a Just Energy shareholder meeting.
Just Energy is currently reviewing the request
and will respond in due course. The Company’s previously announced
strategic review remains active and Just Energy expects to announce
the outcome of the review by June 30, 2020. There is no action for
shareholders to take at this time. The Company will update
shareholders as appropriate.
Given the rapidly evolving COVID-19 pandemic
currently spreading across the globe, Just Energy’s priority is the
safety and well-being of its employees and ensuring the Company’s
business continuity plans are carefully executed.
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
impact of the evolving COVID-19 pandemic on the Company’s business,
the ability of the Company to successfully implement its business
continuity plans with respect to the COVID-19 pandemic, the results
of strategic review process, 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 and 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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