Unitil Corporation · NYSE:UTL
Unitil — Shareholder Meeting (September 2008)
8 slides from Unitil's shareholder meeting presentation, Sep 10, 2008
Slide 1: Special Meeting of Shareholders
Special Meeting of Shareholders Presentation by Robert G. Schoenberger Chairman, President & Chief Executive Officer September 10, 2008
Slide 2: Transaction Highlights
Transaction Highlights Overview ! On February 19, 2008, Unitil announced the acquisitions of Northern Utilities, Inc. and Granite State Gas Transmission, Inc. from NiSource, Inc. for $160 million in cash plus net working capital. ! The Company expects to finance the acquisitions with a balanced mix
Slide 3: Key Acquisition Benefits
Key Acquisition Benefits Overview ! Larger and more diversified earnings and asset base ! Local -- familiar business and regulatory environments ! Significant synergy opportunities ! Opportunity for improved regulated utility operating earnings ! Expanded business development potential and growth !
Slide 4: Synergies Expected
Synergies Expected Overview ! The Company expects to benefit from operating efficiencies due to economies of scale and more efficient use of personnel, infrastructure and information systems. ! The combination is estimated to produce annual system-wide synergy savings of approximately $5.6 million.
Slide 5: Progress To Date
Progress To Date Overview ! A comprehensive Business Integration Plan was approved by the Company’s senior management in June. The Plan provides for an efficient and coordinated transition of business functions from NiSource to Unitil. ! On August 21, 2008, the Company moved to the New York Stock Ex
Slide 6: Progress To Date
Progress To Date Overview, continued ! On August 27, 2008 the Company announced that it filed settlement agreements in the regulatory proceedings before the Public Utilities Commissions in Maine and New Hampshire on the proposed acquisition of Northern Utilities, Inc. ! Preparations for the debt and
Slide 7: Shareholder Vote Results
Shareholder Vote Results Overview Proposal I: To approve an amendment to the Company’s Articles of Incorporation, as amended, to increase the authorized number of shares of common stock, no par value per share, from 8,000,000 shares to 16,000,000 shares in the aggregate. Total Shares Outstanding Tot
Slide 8: Questions & Answers
Questions & Answers This presentation contains forward-looking statements that are subject to the inherent uncertainties in predicting future results and conditions. Certain factors that could cause the actual results to differ materially from those projected in these forward- looking statements inc