•  
Siemens: RuggedCom RSG2488 New Timing CapabilitiesAdvertisement
BACK SEND PRINT

UIL Holdings Announces Expiration of Offer to Purchase $3.125 Par Preferred Stock of its Subsidiary, Connecticut Natural Gas Corporation



June 6, 2014

UIL Holdings Corporation (UIL)(NYSE:UIL) announced the expiration and results of the cash tender offer by its wholly-owned subsidiary, CTG Resources, Inc., for all of the issued and outstanding shares of the $3.125 Par Preferred Stock of its subsidiary, Connecticut Natural Gas Corporation (CNG). At the expiration of the tender offer at 5:00 p.m. on June 5, 2014, 70,699 shares of the Preferred Stock, representing 65.04 percent of outstanding shares, had been validly tendered and not withdrawn. Pursuant to the terms and conditions of the offer, CTG will accept for purchase 70,699 shares of the Preferred Stock at $10.25 per share.

CTG Resources, Inc. has retained Computershare Trust Company, N.A. as the depositary for the tender offer and Georgeson, Inc., as the information agent.

Headquartered in New Haven, Connecticut, UIL Holdings Corporation (NYSE:UIL) is a diversified energy delivery company serving a total of approximately 700,000 electric and natural gas utility customers in 66 communities across two states, with combined total assets of over $4 billion.

UIL Holdings is the parent company for The United Illuminating Company (UI), CTG Resources, Inc., the parent of Connecticut Natural Gas Corporation (CNG), Connecticut Energy Corporation, the parent of The Southern Connecticut Gas Company (SCG), and Berkshire Energy Resources, Inc., the parent of The Berkshire Gas Company (Berkshire), each more than 100 years old. UI provides for the transmission and delivery of electricity and other energy related services for Connecticut's Greater New Haven and Bridgeport areas. SCG and CNG are natural gas distribution companies that serve customers in Connecticut, while Berkshire serves natural gas customers in western Massachusetts. UIL Holdings employs more than 1,850 people in the New England region.

Certain statements contained herein, regarding matters that are not historical facts, are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). These include statements regarding management's intentions, plans, beliefs, expectations or forecasts for the future. Such forward-looking statements are based on UIL Holdings' expectations and involve risks and uncertainties; consequently, actual results may differ materially from those expressed or implied in the statements. Such risks and uncertainties include, but are not limited to, general economic conditions, conditions in the debt and equity markets, legislative and regulatory changes, changes in demand for electricity, gas and other products and services, unanticipated weather conditions, changes in accounting principles, policies or guidelines, and other economic, competitive, governmental, and technological factors affecting the operations, markets, products and services of UIL Holdings' subsidiaries, The United Illuminating Company, The Southern Connecticut Gas Company, Connecticut Natural Gas Corporation and The Berkshire Gas Company. The foregoing and other factors are discussed and should be reviewed in our most recent Annual Report on Form 10-K and other subsequent filings with the Securities and Exchange Commission. Forward-looking statements included herein speak only as of the date hereof and we undertake no obligation to revise or update such statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or circumstances.

For more information :

Organization:
UIL Holdings Corporation
www.uil.com

Contact person:

Susan Allen, Analyst
UIL Holdings Corporation
Tel: 203-499-2409

Contact person:

Michael West, Media
UIL Holdings Corporation
Tel: 203-499-3858


Link http://www.electricenergyonline.com/detail_news.php?ID=485052
BACK SEND PRINT
Most consulted news

Contact us

Jaguar Expo Inc
1160 rue Levis, Suite 100
Terrebonne (Quebec) J6W 5S6

Tel.: 450-471-0796
Toll free: 888-332-3749
Fax: 450-471-5443 . 888-243-4562

info@electricenergyonline.com
www.electricenergyonline.com

  Press

  Jobs

  Events

  Subscription

  News

  Magazine

  News on your smartphone

© 2014, Jaguar Media inc. All rights reserved. 1996-2014