TORONTO, ONTARIO–(Marketwire – Dec. 28, 2011) – EnerCare Inc. ("EnerCare" or the "Company") (TSX:ECI) announced today that after consulting with its legal counsel, it has determined that the requisition from Octavian Advisors ("Octavian") for a special meeting of shareholders is invalid. Under Canadian law, the requisitioner must be a registered holder of EnerCare shares. The Company has determined that Octavian does not appear on the register of shareholders.
EnerCare also announced that its annual and general meeting will be held on April 30, 2012. James Pantelidis, Chairman of the Board, will provide an update to shareholders on the Company's achievements in 2011 and will detail plans for the year to come. The board has fixed March 2, 2012 as the record date for the meeting.
"I invite all of our shareholders to join us for our annual and general meeting. The board and management team of EnerCare look forward to the opportunity to meet with and discuss the Company's performance with our shareholders. We continue to believe in our long term strategy to provide value to shareholders through dividends and capital appreciation," said Chairman James Pantelidis.
EnerCare and EnerCare Solutions Inc. own a portfolio of approximately 1.2 million water heaters and other assets, rented primarily to residential customers in Ontario. EnerCare also owns Stratacon Inc. and EnerCare Connections Inc., leading Sub-meterin g companies, with metering contracts for condominium and apartment suites in Ontario, Alberta and elsewhere in Canada. Additional information regarding EnerCare and EnerCare Solutions Inc. is available on SEDAR at www.sedar.com.
Certain statements in this news release are forward-looking statements, which reflect management's expectation regarding EnerCare's and EnerCare Solutions' 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.
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