Globe says Just Energy may be in for a fightIf you can read the full article in the globe, it quotes an analyst at Cannacord who believes the intrinsic value of JE is around $4.00
a share. Not sure if that takes into account the recent sale of the U.K biz or not but.....
2019-10-18 08:13 ET - In the News The Globe and Mail reports in its Friday, Oct. 18, edition that Rob Snyder is a former rival of Just Energy Group who has amassed an 8.3-per-cent interest in the firm and looks to be girding for battle with its founder and board. The Globe's Jeffrey Jones writes that the Dallas-based executive is now Just Energy's third-largest shareholder. He is not shy about criticizing its performance. Just Energy, led by founder and executive chairman Rebecca MacDonald, is in the midst of a formal study of strategic alternatives, which could mean it is seeking buyers. Since the company launched the process in early June, it has disclosed $74.1-million in charges related to nonpayment of bills by customers, raising questions about internal controls. Last month, after increasing his position, Mr. Snyder filed notice with the U.S. Securities and Exchange Commission of his intention to communicate with the company's board and management. He is not commenting much publicly, but what he is saying is not exactly glowing. "I have communicated my dissatisfaction to the company and leadership team, particularly as I have watched this firm circle the drain for the last five years," Mr. Snyder said in a brief interview.
© 2019 Canjex Publishing Ltd. All rights reserved.