CLINTON, Conn., Oct. 17, 2018 /PRNewswire/ -- Connecticut
Water Service, Inc. (NASDAQ: CTWS) today posted a video showing how
Connecticut Water shareholders can vote with the GREEN proxy
card "FOR" the transaction with SJW Group (NYSE:
SJW). The video is available under the "How to Vote" tab on
www.sjw-ctws.com and http://ir.ctwater.com.
Connecticut Water and SJW Group are an ideal combination that is
in the best interests of Connecticut Water shareholders and will
create benefits for customers, employees and communities. To
receive significant, certain, premium value of $70 per share in cash and secure meaningful
stakeholder benefits, the Connecticut Water Service Board of
Directors unanimously recommends shareholders vote
"FOR" the proposals related to the SJW Group
transaction by phone, by Internet or by signing and returning the
GREEN proxy card. Shareholders of record as of the close of
business on September 24, 2018 will
be entitled to vote at the upcoming Special Meeting on November 16, 2018.
Connecticut Water reminds shareholders that their vote is
important no matter how many or how few shares they own. This
critical vote will determine whether Connecticut Water can realize
significant, certain, premium value for our shareholders and the
many exciting benefits the CT Water + SJW Group combination will
create for our customers, employees and communities – importantly,
not voting is the same as voting against the SJW Group
transaction.
Connecticut Water shareholders who have questions or would like
additional information should contact Connecticut Water's proxy
solicitors: Morrow Sodali, toll-free at (800) 662-5200 or by email
at CTWS@morrowsodali.com, or MacKenzie Partners, toll-free at
(800) 322-2885 or by email at CTWS@mackenziepartners.com.
To learn more about Connecticut Water's transaction with SJW
Group and the substantial value and significant benefits it will
provide, shareholders are encouraged to visit
www.sjw-ctws.com.
About CTWS
CTWS is a publicly traded holding company headquartered in
Clinton, Connecticut. CTWS is the
parent company of The Connecticut Water Company, The Maine Water
Company, The Avon Water Company, and The Heritage Village Water
Company. Together, these subsidiaries provide water service to more
than 450,000 people in Connecticut
and Maine, and wastewater service
to more than 10,000 people in Connecticut.
Cautionary Statement Regarding Forward-Looking
Statements
This document contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995, as
amended. Some of these forward-looking statements can be
identified by the use of forward-looking words such as "believes,"
"expects," "may," "will," "should," "seeks," "approximately,"
"intends," "plans," "estimates," "projects," "strategy," or
"anticipates," or the negative of those words or other comparable
terminology.
The accuracy of such statements is subject to a number of risks,
uncertainties and assumptions including, but not limited to, the
following factors: (1) the risk that the conditions to the
closing of the transaction are not satisfied, including the risk
that required approval from the shareholders of Connecticut Water
for the transaction is not obtained; (2) the risk that the
regulatory approvals required for the transaction are not obtained,
on the terms expected or on the anticipated schedule; (3) the
effect of water, utility, environmental and other governmental
policies and regulations; (4) litigation relating to the
transaction; (5) the ability of the parties to the transaction
to meet expectations regarding the timing, completion and
accounting and tax treatments of the proposed transaction;
(6) the occurrence of any event, change or other circumstance
that could give rise to the termination of the transaction
agreement between the parties to the proposed transaction;
(7) changes in demand for water and other products and
services of Connecticut Water; (8) unanticipated weather
conditions; (9) catastrophic events such as fires,
earthquakes, explosions, floods, ice storms, tornadoes, terrorist
acts, physical attacks, cyber-attacks, or other similar occurrences
that could adversely affect Connecticut Water's facilities,
operations, financial condition, results of operations, and
reputation; (10) risks that the proposed transaction disrupts
the current plans and operations of Connecticut Water;
(11) potential difficulties in employee retention as a result
of the proposed transaction; (12) unexpected costs, charges or
expenses resulting from the transaction; (13) the effect of
the announcement or pendency of the proposed transaction on
Connecticut Water's business relationships, operating results, and
business generally, including, without limitation, competitive
responses to the proposed transaction; (14) risks related to
diverting management's attention from ongoing business operations
of Connecticut Water; (15) the trading price of Connecticut
Water's common stock; and (16) legislative and economic
developments.
In addition, actual results are subject to other risks and
uncertainties that relate more broadly to Connecticut Water's
overall business and financial condition, including those more
fully described in Connecticut Water's filings with the U.S.
Securities and Exchange Commission (the "SEC"), including, without
limitation, its annual report on Form 10-K for the fiscal year
ended December 31, 2017 and its
quarterly report on Form 10-Q for the period ended June 30, 2018. Forward-looking statements
are not guarantees of performance, and speak only as of the date
made, and neither Connecticut Water nor its management undertakes
any obligation to update or revise any forward-looking statements
except as required by law.
Additional Information and Where to Find It
This communication relates to the proposed acquisition of
Connecticut Water by SJW Group. In connection with the
proposed transaction, on October 2,
2018, Connecticut Water filed a definitive proxy statement
on Schedule 14A and the accompanying GREEN proxy card 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
security holders will be able to obtain a copy of the definitive
proxy statement and the other documents filed by Connecticut Water
with the SEC free of charge at the SEC's web site,
http://www.sec.gov, and shareholders of Connecticut Water
will also be able to obtain transaction-related documents free of
charge by directing a request to Connecticut Water's Corporate
Secretary, Kristen A. Johnson, at
Connecticut Water Service, Inc., 93 West Main Street, Clinton, Connecticut 06413, or by telephone at
1-800-428-3985.
Participants in Solicitation
SJW Group and its directors and executive officers, and
Connecticut Water and its directors and executive officers, may be
deemed to be participants in the solicitation of proxies from the
holders of Connecticut Water's common stock in respect of the
proposed transaction. Information about the directors and
executive officers of SJW Group is set forth in the proxy statement
for SJW Group's 2018 Annual Meeting of Stockholders, which was
filed with the SEC on March 6,
2018. Information about the directors and executive officers
of Connecticut Water is set forth in the proxy statement for
Connecticut Water's 2018 Annual Meeting of Shareholders, which was
filed with the SEC on April 6,
2018. Investors may obtain additional information regarding
the interest of such participants by reading the definitive proxy
statement regarding the proposed transaction, which was filed on
October 2, 2018, and other relevant
materials filed with the SEC regarding the proposed
transaction.
Connecticut Water Contacts
Daniel J. Meaney, APR
Director, Corporate Communications
(860) 664-6016
dmeaney@ctwater.com
Investors
Mike Verrechia / Bill Dooley
Morrow Sodali, LLC
(800) 662-5200
CTWS@morrowsodali.com
Dan Burch / Laurie Connell
MacKenzie Partners, Inc.
(800) 322-2885
CTWS@mackenziepartners.com
Media
Joele Frank, Wilkinson Brimmer
Katcher
Barrett Golden / Joseph Sala
(212) 355-4449
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SOURCE Connecticut Water Service, Inc.