The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Marketwire

EnerCare and EnerCare Solutions Respond to Shareholder Letter Issued by Augustus Advisors

Thursday, July 17, 2014

EnerCare and EnerCare Solutions Respond to Shareholder Letter Issued by Augustus Advisors

12:26 EDT Thursday, July 17, 2014

TORONTO, ONTARIO--(Marketwired - July 17, 2014) - EnerCare Inc. ("EnerCare") (TSX:ECI) and EnerCare Solutions Inc. ("EnerCare Solutions" and with EnerCare, the "Company"), one of Canada's leading providers of energy conservation products and services, responded today to the letter issued by August Advisors, LLC to EnerCare's shareholders. Following receipt of the letter of indication sent by TPG Special Situations Partner, LLC ("TSSP") to EnerCare in late May 2014, the Company's Board met and carefully considered the letter of indication. After careful consideration, including considering financial and other information provided by the Company's advisors, the Company's Board unanimously determined that the indicated price of between $13.50 and $15.00 per share did not represent full value for EnerCare's shares and was not sufficient to form the basis of meaningful discussions.

In its response to TSSP's letter, the Board reiterated to TSSP, and today reiterates, that it is always open to considering value maximizing opportunities.

About EnerCare and EnerCare Solutions

EnerCare and EnerCare Solutions own a portfolio of approximately 1.1 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 and EnerCare Solutions is available on SEDAR at www.sedar.com or through EnerCare's investor relations website at www.enercareinc.com or at www.enercare.ca.

Source: EnerCare Inc.

FOR FURTHER INFORMATION PLEASE CONTACT:

Contact Information:
EnerCare Inc.
Evelyn Sutherland
CFO
1.416.649.1860
esutherland@enercare.ca
www.enercare.ca

Products
  • Globe Unlimited

    Digital all access pass across devices. subscribe

  • The Globe and Mail Newspaper

    Newspaper delivered to your doorstep. subscribe

  • Globe2Go

    The digital replica of our newspaper. subscribe

  • Globe eBooks

    A collection of articles by the Globe. subscribe

See all Globe Products

Advertise with us

GlobeLink.ca

Your number one partner for reaching Canada's Influential Achievers. learn more

The Globe at your Workplace
Our Company
Customer Service
Globe Recognition
Mobile Apps
NEWS APP
INVESTING APP
Other Sections