TORONTO, ONTARIO — (Marketwire) — 12/12/11 — EnerCare Inc. (“EnerCare”) (TSX: ECI) announced today that it has received a request from one of its shareholders, Octavian Advisors, to hold a meeting of shareholders of EnerCare. The purpose of the meeting, as set out in the notice received from Octavian, is to consider a resolution to increase the size of EnerCare-s board from its current six to 10 members and to consider a resolution to add four nominees of Octavian to the board of EnerCare. Based on public filings made by Octavian, EnerCare believes that Octavian holds approximately 13% of the issued and outstanding common shares of EnerCare.
EnerCare will carefully consider Octavian-s request with its advisors and provide a response to the market in due course.
About EnerCare
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-metering 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 .
Forward-looking Information
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.
Contacts:
EnerCare Inc.
Evelyn Sutherland
CFO
416.649.1860