Press release from Business Wire
Octavian Advisors Announces Investment in EnerCare Inc.
Thursday, April 28, 2011
Octavian Advisors Announces Investment in EnerCare Inc.20:47 EDT Thursday, April 28, 2011 TORONTO (Business Wire) -- Octavian Advisors, LP (“Octavian”) announced that, as investment manager to certain investment funds, it acquired today through the facilities of the Toronto Stock Exchange, control or direction over 812,500 common shares (“Common Shares”) of EnerCare Inc. (“EnerCare”) (TSX: ECI) at a price of $6.95 per share. Funds managed by Octavian have been significant shareholders of EnerCare since 2009, and after giving effect to this purchase, Octavian now exercises control or direction over an aggregate of 5,639,481 Common Shares. Based on information provided by the Toronto Stock Exchange, this represents approximately 10.24% of the 55,088,565 issued and outstanding Common Shares. Octavian acquired the Common Shares for investment purposes and may, from time to time on an individual or joint basis, acquire additional securities of EnerCare, dispose of some or all of the existing or additional securities it holds or will hold, or may continue to hold its current position. Subject to applicable law, Octavian may from time to time have discussions with other shareholders of EnerCare and its board of directors and management regarding EnerCare, its prospects and potential means for enhancing shareholder value, including without limitation, with respect to potential changes in the business, strategy or board composition of EnerCare. Octavian may also from time to time initiate or participate in such other actions as it considers necessary to seek to enhance shareholder value at EnerCare, including without limitation, actions intended to cause changes to the business, strategy or board composition of EnerCare. Further information (including a copy of the report to be filed with Canadian securities regulators in connection with this transaction) can be obtained by contacting: Octavian Advisors, LP650 Madison Avenue, 23rd FloorNew York, NY 10022(212) 224-9500 Media:Sard Verbinnen & CoDenise DesChenes / Jonathan Doorley, 212-687-8080