|Bid||0.5500 x 0|
|Ask||0.5600 x 0|
|Day's Range||0.5200 - 0.7800|
|52 Week Range||0.5100 - 5.7800|
|Beta (5Y Monthly)||1.54|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul. 08, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Jun. 14, 2019|
|1y Target Est||1.00|
(Bloomberg) -- Just Energy Group Inc. plunged Wednesday after concluding a strategic review along with a share consolidation plan.The company launched a formal review last summer following expressions of interest from a number of parties. Just Energy plans to remain independent, according to a statement Wednesday morning.Shares of the energy utility sank as much as 29% intraday in Toronto, the most since March 20. Canadian billionaire Jim Pattison’s Great Pacific Capital Corp. owns about 16% of the company, according to data compiled by Bloomberg. Pattison reported his stake in 2015.Additionally, Just Energy announced a recapitalization plan, including C$100 million in new equity commitment, and debt reduction by about C$275 million.“This comprehensive plan to strengthen and de-risk our business will result in a much stronger Just Energy, creating a sustainable capital structure,” CEO Scott Gahn said.BMO Capital Markets provided a fairness opinion for the company’s recap plan, which is expected to be implemented in September.“We believe the proposed reorganization plan is a positive development as it keeps the company solvent,” Nelson Ng, an analyst at RBC, told clients in a note.The share consolidation leaves RBC skeptical. “However, the 1-for-33 share consolidation and the ‘New Equity Subscription Opportunity’ that gives stakeholders the right to purchase new shares at C$3.412/share implies a current price of ~C$0.10/share,” Ng said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
TORONTO , July 8, 2020 /CNW/ - Trading resumes in: Company: Just Energy Group Inc. TSX Symbol: JE All Issues: Yes Resumption (ET): 9:45 AM IIROC can make a decision to impose a temporary suspension (halt) ...
Just Energy Group Inc. (“Just Energy” or the “Company”) (TSX:JE; NYSE:JE), a retail energy provider specializing in electricity and natural gas commodities and bringing energy efficient solutions and renewable energy options to customers, today announced the conclusion of its strategic review and a comprehensive plan to strengthen and de-risk the business, positioning the Company for sustainable growth as an independent industry leader. “This comprehensive plan to strengthen and de-risk our business will result in a much stronger Just Energy, creating a sustainable capital structure and allowing our team to focus on driving our business and serving our clients,” said Just Energy’s President and Chief Executive Officer, R. Scott Gahn.
Base EBITDA from Continuing Operations of $74.6 million in Q4 and $185.8 million in FY2020Realized spend reduction of approximately $70 million in FY2020 vs. FY2019, incremental.
Just Energy Group Inc. (“Just Energy” or the “Company”) (JE) (JE) announced today that it has amended its senior secured credit facility to increase the senior debt to EBITDA covenant ratio from 1.50:1 to 2.00:1 and the total debt to EBITDA covenant from 3.50:1 to 4.00:1 with respect to the fiscal quarter ending June 30, 2020. In addition, the lenders under the Company’s senior unsecured term loan facility waived compliance with the senior debt to EBITDA and total debt to EBITDA covenants contained therein for the fiscal quarter ending June 30, 2020. “The relaxation of our debt covenants provides Just Energy with increased financial flexibility as we navigate the unique challenges brought about by COVID-19,” said Scott Gahn, President and Chief Executive Officer of Just Energy.
The Canadian Securities Administrators have announced temporary relief from certain regulatory filings required to be made on or before August 31, 2020. Just Energy expects to file the Annual Filings by no later than July 7, 2020. The Company is continuing to work diligently towards completing and filing the Annual Filings.
Just Energy Group Inc. (“Just Energy” or the “Company”) today announced that due to delays in accounting closing procedures, audit procedures and other operations resulting from the COVID-19 pandemic, the Company will release its audited annual financial statements and related management discussion and analysis for fiscal 2020 on June 29, 2020. The Company will host a conference call and live webcast with Scott Gahn, Just Energy’s Chief Executive Officer, and Jim Brown, Chief Financial Officer, to review the fiscal fourth quarter and year-end results beginning at 10:00 a.m. Eastern Time on June 29, 2020. A webcasted replay for the call will also be archived on the Just Energy investor relations website a few hours after the event.
April 22nd marks 50 years of Earth Day, and to coincide with the milestone, terrapass is excited to announce two new collaborations to its growing list of eco-conscious partners – HelloFresh and Lokai. In selecting terrapass, both companies build on their social and environmental initiatives with carbon offsets to counter their operations-related emissions, and support investment in projects that reduce greenhouse gases in the atmosphere.
Just Energy Group Inc. (“Just Energy” or the “Company”) today announced that it has sold all of the shares of Just Energy Japan KK (“Just Energy Japan”) to Astmax Trading, Inc. The purchase price was nominal, as the business was still in its start-up phase with more liabilities than assets and had fewer than 1,000 customers. “The sale of Just Energy Japan further exemplifies the Company’s commitment and focus to optimize the organization and concentrate on its North American operations,” said Scott Gahn, President and Chief Executive Officer of Just Energy. “The sale eliminates ongoing funding requirements for the Japanese business, as we continue to focus on our business continuity plans during these unprecedented times and on the health and safety of our employees, customers and communities.”
Just Energy Group Inc. (“Just Energy” or the “Company”) today provided a business update relating to the impact of the COVID-19 pandemic on its business, which it has been closely monitoring and assessing. The Company has taken a number of steps to ensure the health and safety of its employees, customers and communities, including suspending door-to-door selling, in-store retail partnerships and all business travel, as well as requiring employees to work from their homes unless required for business continuity. Just Energy also provided an update on its previously announced strategic review process, which has taken into account the impact of COVID-19 on the Company and the markets more generally.
Just Energy Group Inc. (“Just Energy” or the “Company”) (JE) (JE) announced today that it will hold its annual and special meeting of shareholders (the “Meeting”) on August 11, 2020. The meeting will deal with normal course matters, matters related to the requisition for a special meeting of shareholders received by Robert L. Snyder Trust – 2005 Stream (“Snyder”) and any other necessary business. The date selected reflects the impact of the ongoing COVID-19 pandemic, associated restrictions on public gatherings, and the difficulties in holding a potentially contested virtual-only meeting in Canada.
Just Energy Group Inc. (“Just Energy” or the “Company”) (JE) (JE) announced that on March 23, 2020 it received written notification from the New York Stock Exchange ("NYSE") that it was not in compliance with the standard set forth in Rule 802.01C of the NYSE Listed Company Manual that requires listed companies to maintain an average closing share price of at least US$1.00 over a consecutive 30 trading-day period. This notification is not discretionary and is sent when a listed company’s share price falls below the NYSE’s minimum price listing standard.
Just Energy Group Inc. (“Just Energy”) or (the “Company”) (TSX:JE; NYSE:JE) confirms that on March 17, 2020 it received a letter from the Robert L. Snyder Trust – 2005 Stream (“Snyder”), a shareholder beneficially holding more than 5% of the common shares of Just Energy, requisitioning a Just Energy shareholder meeting. Just Energy is currently reviewing the request and will respond in due course. The Company’s previously announced strategic review remains active and Just Energy expects to announce the outcome of the review by June 30, 2020.
Just Energy Group Inc. (“Just Energy”) or (the “Company”) (TSX:JE; NYSE:JE) confirms that it received two shareholder proposals, on February 28, 2020 – the deadline for shareholder proposals to be included in the management information circular for the 2020 annual general meeting of shareholders of the Company, by the Robert L. Snyder Trust – 2005 Stream (“Snyder”). Pursuant to the shareholder proposals, Snyder has proposed to increase the number of directors of Just Energy from six to eight, and to nominate six directors as candidates for election to the Just Energy Board of Directors (the “Board”) at the Company’s 2020 Annual Meeting of Shareholders.
Previously Announced Strategic Review Remains Active and is Progressing; Decision Anticipated No Later Than June 30, 2020Base EBITDA from Continuing Operations of $38.0.
TORONTO, Jan. 27, 2020 -- Just Energy Group, Inc. (TSX:JE; NYSE:JE) today announced that it will release operating results for the third quarter of fiscal 2020 prior to market.
Closing of the sale of Irish business and sale of Georgia assets further advances efforts to streamline the organization. Cost control efforts implemented in fiscal 2019 and earlier in fiscal 2020 have begun to yield results; total annualized cost savings initiatives announced so far in fiscal 2020 of approximately C$60 million, net of costs associated with severance and the strategic review process. Just Energy remains actively engaged in its strategic review process for its core North American business.