EGAS: Gas Natural Comments on Inaccurate Information Provided by TheDeal on TheStreet.com
Date : 07/15/2014
MENTOR, Ohio, July 15, 2014 /PRNewswire/ -- Gas Natural Inc. (NYSE MKT: EGAS) ("Gas Natural" or the "Company"
, a holding company operating local natural gas utility companies serving approximately 73,000 customers in seven states, today commented on an erroneous report by TheDeal correspondent Amanda Levin that was published at TheStreet.com on Friday, July 11, 2014 at 11:56 AM EDT. The erroneous report claimed that the Company was engaging in a process to put itself up for sale.
The Board of Directors has not been, nor currently plans to be, engaged in a process to sell the Company. The Board fully recognizes its fiduciary responsibility to consider a reasonable offer to be acquired, if any is offered to the Company.
The Company continues to be focused on addressing near term priorities and executing its strategy for growth. Gas Natural has been making significant changes within its accounting, gas purchasing and regulatory management departments, improving the internal control environment, enhancing relationships with the regulatory commissions in its various jurisdictions, and strengthening overall governance. Strategically, the Company continues to invest capital for strong organic growth in its Maine and North Carolina markets. It also regularly evaluates acquisition potential for bolt-on opportunities and the alignment and return of its current asset base.
About Gas Natural Inc.
Gas Natural Inc., a holding company, distributes and sells natural gas to end-use residential, commercial, and industrial customers. It distributes approximately 36 billion cubic feet of natural gas to approximately 73,000 customers through regulated utilities operating in Montana, Wyoming, Ohio, Pennsylvania, Maine, North Carolina and Kentucky. The Company's other operations include interstate pipeline, natural gas production and natural gas marketing. The Company's Montana public utility was originally incorporated in 1909. Its strategy for growth is to expand throughput in the Maine and North Carolina markets while looking for acquisitions that are either adjacent to its existing utilities or in under saturated markets. Gas Natural Inc. regularly posts information on its website at www.egas.net.
Safe Harbor Regarding Forward-Looking Statements
The Company is including the following cautionary statement in this release to make applicable and to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 for any forward-looking statements made by, or on behalf of, Gas Natural Inc. Forward-looking statements are all statements other than statements of historical fact, including, without limitation, those that are identified by the use of the words "anticipates," "estimates," "expects," "intends," "plans," "predicts," "believes" and similar expressions. Such statements are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those expressed. Factors that may affect forward-looking statements and the Company's business generally include but are not limited to the Company's ability to successfully integrate the operations of the companies it has recently acquired and consummate additional acquisitions, the Company's continued ability to make dividend payments, the Company's ability to implement its business plan, fluctuating energy commodity prices, the possibility that regulators may not permit the Company to pass through all of its increased costs to its customers, changes in the utility regulatory environment, wholesale and retail competition, the Company's ability to satisfy its debt obligations, including compliance with financial covenants, weather conditions, litigation risks, and various other matters, many of which are beyond the Company's control, the risk factors and cautionary statements made in the Company's public filings with the Securities and Exchange Commission, and other factors that the Company is currently unable to identify or quantify, but may exist in the future. Gas Natural Inc. expressly undertakes no obligation to update or revise any forward-looking statement contained herein to reflect any change in Gas Natural Inc.'s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
For more information contact:
Gas Natural Inc.
Investor Relations
James E. Sprague, Chief Financial Officer
Deborah K. Pawlowski or Karen Howard, Kei Advisors LLC
Phone: (440) 974-3770
Phone: (716) 843-3908 / (716) 843-3942
Email: jsprague@egas.net
Email: dpawlowski@keiadvisors.com / khoward@keiadvisors.com
SOURCE Gas Natural Inc.
Copyright 2014 PR Newswire
Date : 07/15/2014
MENTOR, Ohio, July 15, 2014 /PRNewswire/ -- Gas Natural Inc. (NYSE MKT: EGAS) ("Gas Natural" or the "Company"
, a holding company operating local natural gas utility companies serving approximately 73,000 customers in seven states, today commented on an erroneous report by TheDeal correspondent Amanda Levin that was published at TheStreet.com on Friday, July 11, 2014 at 11:56 AM EDT. The erroneous report claimed that the Company was engaging in a process to put itself up for sale. The Board of Directors has not been, nor currently plans to be, engaged in a process to sell the Company. The Board fully recognizes its fiduciary responsibility to consider a reasonable offer to be acquired, if any is offered to the Company.
The Company continues to be focused on addressing near term priorities and executing its strategy for growth. Gas Natural has been making significant changes within its accounting, gas purchasing and regulatory management departments, improving the internal control environment, enhancing relationships with the regulatory commissions in its various jurisdictions, and strengthening overall governance. Strategically, the Company continues to invest capital for strong organic growth in its Maine and North Carolina markets. It also regularly evaluates acquisition potential for bolt-on opportunities and the alignment and return of its current asset base.
About Gas Natural Inc.
Gas Natural Inc., a holding company, distributes and sells natural gas to end-use residential, commercial, and industrial customers. It distributes approximately 36 billion cubic feet of natural gas to approximately 73,000 customers through regulated utilities operating in Montana, Wyoming, Ohio, Pennsylvania, Maine, North Carolina and Kentucky. The Company's other operations include interstate pipeline, natural gas production and natural gas marketing. The Company's Montana public utility was originally incorporated in 1909. Its strategy for growth is to expand throughput in the Maine and North Carolina markets while looking for acquisitions that are either adjacent to its existing utilities or in under saturated markets. Gas Natural Inc. regularly posts information on its website at www.egas.net.
Safe Harbor Regarding Forward-Looking Statements
The Company is including the following cautionary statement in this release to make applicable and to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 for any forward-looking statements made by, or on behalf of, Gas Natural Inc. Forward-looking statements are all statements other than statements of historical fact, including, without limitation, those that are identified by the use of the words "anticipates," "estimates," "expects," "intends," "plans," "predicts," "believes" and similar expressions. Such statements are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those expressed. Factors that may affect forward-looking statements and the Company's business generally include but are not limited to the Company's ability to successfully integrate the operations of the companies it has recently acquired and consummate additional acquisitions, the Company's continued ability to make dividend payments, the Company's ability to implement its business plan, fluctuating energy commodity prices, the possibility that regulators may not permit the Company to pass through all of its increased costs to its customers, changes in the utility regulatory environment, wholesale and retail competition, the Company's ability to satisfy its debt obligations, including compliance with financial covenants, weather conditions, litigation risks, and various other matters, many of which are beyond the Company's control, the risk factors and cautionary statements made in the Company's public filings with the Securities and Exchange Commission, and other factors that the Company is currently unable to identify or quantify, but may exist in the future. Gas Natural Inc. expressly undertakes no obligation to update or revise any forward-looking statement contained herein to reflect any change in Gas Natural Inc.'s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
For more information contact:
Gas Natural Inc.
Investor Relations
James E. Sprague, Chief Financial Officer
Deborah K. Pawlowski or Karen Howard, Kei Advisors LLC
Phone: (440) 974-3770
Phone: (716) 843-3908 / (716) 843-3942
Email: jsprague@egas.net
Email: dpawlowski@keiadvisors.com / khoward@keiadvisors.com
SOURCE Gas Natural Inc.
Copyright 2014 PR Newswire
