CLINTON, Conn., Oct. 31, 2018 (GLOBE NEWSWIRE) —
Connecticut Baptize Service, Inc. (NASDAQ: CTWS) (“Connecticut Water”) today appear that it has accomplished an acceding with Connecticut Fund for the Environment (“CFE”) to accommodate added ecology safeguards that will booty aftereffect with the closing of Connecticut Water’s ahead appear aggregate with SJW Group (NYSE: SJW), which is accepted in the aboriginal division of 2019. The acceding includes accoutrement accompanying to baptize aggregation lands, abeyant amusement programs and connected amenable baptize adeptness management.
Attorney Curtis Johnson, President, and Katherine Fiedler, Legal Fellow, active the acceding on account of CFE and adumbrated that CFE would book a abrupt in the awaiting calendar for the alliance of Connecticut Baptize and SJW Group. The abrupt would agenda that CFE “…does not argue the transaction and that it supports the accoutrement [in the agreement] that accommodate for added safeguards and are in the accessible interest.” In a above-mentioned abrupt that was filed with PURA in the awaiting calendar on October 26, 2018, CFE acclaimed that, “…these altitude will accept mutually benign outcomes for the Accompaniment [of Connecticut] and the Companies and will serve the accessible interest.” The acceding is additionally acknowledging to comments accompanying to baptize aggregation acreage filed by associates of the accessible in the awaiting docket.
Maureen Westbrook, Vice President of Chump & Authoritative Affairs of Connecticut Water, noted, “This acceding is constant with Connecticut Water’s history of alive collaboratively with ecology advocates on affairs of accepted absorption and our almanac of ecology stewardship. It reflects our allegation to absorption acreage for accessible amplitude for the account of the Accompaniment of Connecticut and its residents, aloft and above any approved requirements. Further, it demonstrates our compassionate of the accent of baptize assets in the accompaniment and our role as a baptize account aggregation in absorption those admired resources.”
Eric Thornburg, Chairman, President and CEO of SJW Group, said, “SJW shares the able ecology belief of our colleagues at Connecticut Water, and we abutment the acceding with CFE as a way to assure ecology advocates of our alertness to coact on affairs of aggregate interest. We attending advanced to alive calm to beforehand the goals of absorption admired baptize aggregation acreage and baptize assets in Connecticut.”
Connecticut Water, through its adapted baptize account subsidiaries, owns over 6,500 acreage of acreage in Connecticut and 2,200 acreage in Maine, best of which are and will abide to be managed for the aegis of bubbler baptize accumulation sources. Since 2008, Connecticut Baptize has formed with bounded communities to alteration or administer abiding absorption easements as adequate accessible amplitude to 1,037 acreage of acreage in Connecticut and 1,153 acreage in Maine. Connecticut Baptize has no affairs to advertise any of its lands, but collaborated with CFE to advance the acceding to accommodate assurances all-important to accord stakeholders abounding aplomb that Connecticut Water’s access to acreage administration will abide beneath the buying of SJW Group. Special considerations were accustomed to 480 acreage of the acreage endemic by Connecticut Baptize that are either captivated for abeyant approaching baptize accumulation use or authentic by the Connecticut Accessible Health Regulations to be Class III acreage because they do not accord to the baptize affection of the accessible bubbler baptize accumulation sources.
Key accoutrement of the acceding are that Connecticut Baptize will:
These ecology commitments add to the cogent allowances already articular for Connecticut Water’s customers, advisers and communities as a aftereffect of CTWS’s aggregate with SJW Group. The new alignment will advance the longstanding commitments of Connecticut Baptize and SJW Group to outstanding chump service, which will be added by administration of best practices, operational adeptness and added all-encompassing resources. There will be no change in chump ante and no agent layoffs or job cuts as a aftereffect of the transaction. Connecticut Water’s barter will abide to be accurate locally by the absolute aggregation of passionate, committed employees; the New England address will abide in Connecticut with the absolute Connecticut Baptize administration team; advance in basement will abide at the accepted pace; there will be connected abutment for baptize absorption initiatives; and the accumulated aggregation will advance accord and banking abutment for association organizations and events. Added advice on the aggregate is accessible at www.sjw-ctws.com.
CTWS is a about traded captivation aggregation headquartered in Clinton, Connecticut. CTWS is the ancestor aggregation of The Connecticut Baptize Company, The Maine Baptize Company, The Avon Baptize Company, and The Heritage Village Baptize Company. Together, these subsidiaries accommodate baptize account to added than 450,000 bodies in Connecticut and Maine, and wastewater account to added than 10,000 bodies in Connecticut.
Cautionary Account Apropos Forward-Looking Statements
This certificate contains advanced statements aural the acceptation of the Private Securities Litigation Reform Act of 1995, as amended. Some of these advanced statements can be articular by the use of advanced words such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates,” “projects,” “strategy,” or “anticipates,” or the abrogating of those words or added commensurable terminology.
The accurateness of such statements is accountable to a cardinal of risks, uncertainties and assumptions including, but not bound to, the afterward factors: (1) the accident that the altitude to the closing of the transaction are not satisfied, including the accident that appropriate approval from the shareholders of Connecticut Baptize for the transaction is not obtained; (2) the accident that the authoritative approvals appropriate for the transaction are not obtained, on the acceding accepted or on the advancing schedule; (3) the aftereffect of water, utility, ecology and added authoritative behavior and regulations; (4) litigation apropos to the transaction; (5) the adeptness of the parties to the transaction to accommodated expectations apropos the timing, achievement and accounting and tax treatments of the proposed transaction; (6) the accident of any event, change or added accident that could accord acceleration to the abortion of the transaction acceding amid the parties to the proposed transaction; (7) changes in appeal for baptize and added articles and casework of Connecticut Water; (8) unanticipated acclimate conditions; (9) catastrophic contest such as fires, earthquakes, explosions, floods, ice storms, tornadoes, agitator acts, concrete attacks, cyber-attacks, or added agnate occurrences that could abnormally affect Connecticut Water’s facilities, operations, banking condition, after-effects of operations, and reputation; (10) risks that the proposed transaction disrupts the accepted affairs and operations of Connecticut Water; (11) potential difficulties in agent assimilation as a aftereffect of the proposed transaction; (12) unexpected costs, accuse or costs consistent from the transaction; (13) the aftereffect of the advertisement or pendency of the proposed transaction on Connecticut Water’s business relationships, operating results, and business generally, including, after limitation, aggressive responses to the proposed transaction; (14) risks accompanying to breach management’s absorption from advancing business operations of Connecticut Water; (15) the trading amount of Connecticut Water’s accepted stock; and (16) legislative and bread-and-er developments.
In addition, absolute after-effects are accountable to added risks and uncertainties that chronicle added broadly to Connecticut Water’s all-embracing business and banking condition, including those added absolutely declared in Connecticut Water’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including, after limitation, its anniversary address on Form 10-K for the budgetary year concluded December 31, 2017 and its annual address on Form 10-Q for the aeon concluded June 30, 2018. Advanced statements are not guarantees of performance, and allege alone as of the date made, and neither Connecticut Baptize nor its administration undertakes any obligation to amend or alter any advanced statements except as appropriate by law.
Additional Advice and Where to Find It
This advice relates to the proposed accretion of Connecticut Baptize by SJW Group. In affiliation with the proposed transaction, on October 2, 2018, Connecticut Baptize filed a absolute proxy account on Schedule 14A and the accompanying GREEN proxy agenda with the SEC. SHAREHOLDERS OF CONNECTICUT WATER ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT AND ALL OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and aegis holders will be able to access a archetype of the absolute proxy account and the added abstracts filed by Connecticut Baptize with the SEC chargeless of allegation at the SEC’s web site, https://www.sec.gov, and shareholders of Connecticut Baptize will additionally be able to access transaction-related abstracts chargeless of allegation by administering a appeal to Connecticut Water’s Corporate Secretary, Kristen A. Johnson, at Connecticut Baptize Service, Inc., 93 West Main Street, Clinton, Connecticut 06413, or by blast at 1-800-428-3985.
Participants in Solicitation
SJW Group and its admiral and controlling officers, and Connecticut Baptize and its admiral and controlling officers, may be accounted to be participants in the address of proxies from the holders of Connecticut Water’s accepted banal in account of the proposed transaction. Advice about the admiral and controlling admiral of SJW Group is set alternating in the proxy account for SJW Group’s 2018 Anniversary Meeting of Stockholders, which was filed with the SEC on March 6, 2018. Advice about the admiral and controlling admiral of Connecticut Baptize is set alternating in the proxy account for Connecticut Water’s 2018 Anniversary Meeting of Shareholders, which was filed with the SEC on April 6, 2018. Investors may access added advice apropos the absorption of such participants by account the absolute proxy account apropos the proposed transaction, which was filed on October 2, 2018, and added accordant abstracts filed with the SEC apropos the proposed transaction.
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