The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Marketwire

EnerCare to Continue Working for the Benefit of All Shareholders

Monday, January 23, 2012

EnerCare to Continue Working for the Benefit of All Shareholders07:00 EST Monday, January 23, 2012TORONTO, ONTARIO--(Marketwire - Jan. 23, 2012) - EnerCare Inc. ("EnerCare") (TSX:ECI) today announced that in respect of Octavian Advisors, LP ("Octavian") repeated attacks, EnerCare looks forward to presenting a complete version of the relevant facts in the Management Information Circular to be provided to shareholders in March, in connection with the Annual and Special Meetings of Shareholders to be held on April 30, 2012."Octavian continues to demonstrate that it is not aligned with other shareholders, and I look forward to putting our accomplishments and track record of creating value in front of shareholders on April 30th," said James Pantelidis, Chairman of the Board of EnerCare. "I want to assure shareholders that the management and board of directors of EnerCare will not be distracted by Octavian's campaign of misinformation and will continue to build shareholder value by executing on our business plan."About EnerCare Inc.EnerCare owns a portfolio of approximately 1.2 million installed water heaters and other assets, rented primarily to residential customers in Ontario. EnerCare also owns EnerCare Connections Inc., a leading sub-metering company, with metering contracts for condominium and apartment suites in Ontario, Alberta and elsewhere in Canada.Additional information regarding EnerCare is available on SEDAR at www.sedar.com or through EnerCare's website at http://investors.enercare.ca. Information on the sub-metering business is also available at www.enercareconnections.com.Forward-looking InformationCertain statements in this news release are forward-looking statements, which reflect management's expectation regarding EnerCare's and EnerCare Solutions Inc.'s growth, results of operations, performance, business prospects and opportunities. Such forward-looking information reflects management's current beliefs and is based on information available to them and/or assumptions management believes are reasonable. Many factors could cause results to differ materially from the results discussed in the forward-looking information. Although the forward-looking information is based on what management believes to be reasonable assumptions, EnerCare and EnerCare Solutions Inc. cannot assure investors that actual results will be consistent with this forward-looking information. Except as required by applicable securities laws, neither EnerCare nor EnerCare Solutions Inc. intend and do not assume any obligation to update or revise the forward-looking information, whether as a result of new information, future events or otherwise. FOR FURTHER INFORMATION PLEASE CONTACT: Karen ChodzickiKingsdale Communications Inc.416-867-2335