Crius Energy Trust Tr Unit CRIUF

Crius Issues Statement Regarding Announcement By JCP

[StocknerdEQcool]

What's Fallquist's next step now??                


GlobeNewswire - Tue Mar 27, 7:02AM CDT

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES

Crius Energy Trust (TSX:KWH-UN.TO) (the "Trust", "Crius" or the "Company") today confirms it has received the announcement by JCP Investment Management, LLC regarding its intention to nominate its hand-picked nominees to the Board of Directors of Crius Energy Administrator Inc. (the "Board"), the administrator of the Trust, at the Trust's upcoming 2018 Annual and Special Meeting of Unitholders.

While the announcement contains a number of inaccuracies, the Board is reviewing the announcement and will respond in due course. Unitholders are not required to take any action at this time.

Despite the unnecessary time and money that JCP's action will require, the Board remains focused on continuing to deliver on its plan to maximize value for all unitholders.

Advisors

Laurel Hill is acting as proxy advisor and Bennett Jones LLP is acting as legal advisor to Crius.

About Crius Energy Trust

With over 1.4 million residential customer equivalents, the Company provides innovative electricity, natural gas and solar products to residential and commercial customers through exclusive partnerships, direct-to-consumer, digital, and broker marketing channels. Our unique brands offer consumers a broad suite of energy products and services including fixed and variable contracts, renewable energy, and bundled products to support their energy needs beyond what is offered by their local utility. Company growth is achieved organically with customers acquired through our diversified marketing channels and through accretive acquisitions in the deregulated energy and solar industries, where there is a significant opportunity to participate in the consolidation of market participants. The Company currently sells energy products in 19 states and the District of Columbia with plans to continue expanding its geographic reach. The Company is well-positioned to deliver capital appreciation and stable distributions to investors.

The Trust intends to continue to qualify as a "mutual fund trust" under the Income Tax Act (Canada) (the "Tax Act"). The Trust will not be a "SIFT trust" (as defined in the Tax Act), provided that the Trust complies at all times with its investment restriction which precludes the Trust from holding any "non-portfolio property" (as defined in the Tax Act). Material information pertaining to Crius may be found on SEDAR under the Trust's issuer profile at www.sedar.com or on the Trust's website at www.criusenergytrust.ca.

For further information, please contact:

 Michael Fallquist Chief Executive Officer, Crius Energy Trust [phone] Roop Bhullar Chief Financial Officer, Crius Energy Trust [phone] Kelly Castledine Investor Relations, Crius Energy Trust [phone] Source: Crius Energy Trust

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[deisman03]

C'mon Scool. That's weak. Already been discussed. It's a non starter. Maybe even complicit in the short attack????  Today's dip is because it's ex distribution day. Some don't believe that but it happens regularly unless there is some sort of very positive news.  GLTA the good folks here

[StocknerdEQcool]

Well deisman, I cannot agree with the suggestion that management complicity in short attacks theory. Yesterday's up as well as today's dip , trading volumes have been modest signalling the war between Crius present status and JCP demand will be immenant. I can't predict the ultimate result for JCP demand to be fulfilled by Crius.  I'm on the sideline watching this very show

[Divy]

You said you were back SHORT on last FRIDAY and now you are on the sideline... is that mean you cover your short with a lost since the beginning of the week?

[StocknerdEQcool]

Yes Divy, I covered my short position on Monday with some loss. Can't win every bet !

[Divy]

Ok I see, at least you are an honest man! :) And why won't you short some more now that it has go up?

[StocknerdEQcool]

Well Divy, I won't be surprised to see some might short more, but i rather wait and see what is going on first. 

[deisman03]

Thursday was not a day to base any assumptions on. It just happened to be ex distribution day and to top it off, Friday is GOOD Friday and North American Markets are closed.  Many traders, especially day traders cash out on or just before ex distribution day and combining it with a long weekend???????????? Caution kicks in.  GLTA the good folks here. 

[ronin1]

No buyback so far. I hope there are not waiting for the stock price to go back down to 7$ Long 10K shares @ 8.25$ since last spring. very frustration to be long.

[Sukhi19]

ronin, They can only start buying back from March 29.

[deisman03]

ex dist, heading into a long weekend, low volumes. What was going to be done with traders likely happened yesterday. There could be a bit more selling off today.  Market is presently flat. Way to much politicing going on to manipulate the markets and this causes a lot of volatility.  GLTA the good folks here. 

[ronin1]

Thanks! Cheers

[StocknerdEQcool]

NBIC approval does not mean they have to buyback now, instead Crius can buyback their units in limited quantities anytime within the year provided they have enough cash flow to do the buying. Crius management is now facing another problem from JCP's demand to be represented by their members on Crius board. I doubt very much the present CEO Mike Fallquist would accept such demand from JCP as he

[Al42]

NBIC approval does not mean they have to buyback now, instead Crius can buyback their units in limited quantities anytime within the year provided they have enough cash flow to do the buying. And I don't think they have to report their buying for 30 days if I remember correctly

[Sukhi19]

AI42, Any buyng through NCIB or by an individual is reported same day after close of market. Usually you can see it on TSX  after 1500 EST. It also shows up next day on www.canadianinsider.com You can subscribe free for canadianinsider. They automatically send any such filings.You can put alerts for up to 25 companies. I see a bid for over 20000 units at $7.75. They can buy back only around

[Sukhi19]

By individual, I mean insider. Incidentally CEO and COO had bought at $8.74 and $8.45 about two years ago. It was reported by canadianinsider.

[Al42]

according to this within 10 days after the end of each month. https://sheanerland.com/insights/normal-course-issuer-bid-ncib-checklist/ Filing and Disclosure Requirements Following the Launch of the NCIB The company must also make the following filings and disclosures following the launch of the NCIB: Reporting Purchases to Exchange:Within 10 days after the end of each month in which

[Al42]

page 8 trom the TSX https://www.tsx.com/resource/en/447 8. Reporting Purchases 8.1 Within 10 days after the end of each month in which purchases are made, whether the securities were purchased through the facilities of the Exchange or otherwise, the Issuer must report to the Exchange the number of securities purchased in the preceding month, providing the dates of the purchases, the average

[Sukhi19]

Example: https://www.canadianinsider.com/node/7?menu_tickersearch=JE+%7C+Just+Energy+Group Ron Joyce sold on 27 March. Filed on 28 March. It showed up on canadianinsider 0n 28 March. On TSX it shows on same day. It has to be with in 10 days, it can be earlier too.

[Al42]

you're right..I was just pointing out they don't have to report NCIB until 10 days at the end of each month. I don't think they did any buy back as I'm sure they would report it right away to help the share price.

[deisman03]

Lots of trades through Raymond James today.