CALGARY, June 25 /CNW/ - A Canadian Press report issued on June 25th
"Cordero .... received yet another sweetened takeover offer from Ember
Resources Inc. yesterday, moments after it said its board would endorse
ENMAX Corp.'s friendly bid. "
This is wrong.
Ember's June 25th news release contained nothing "sweetened". It appears
to be simply a binding confirmation of a proposal that it had made in a news
release back on June 19th. The only change was the shortening of their
deadline by one day.
Cordero's board gave very full and careful consideration of Ember's
June 19th proposal before issuing their own June 25th news release, re-stating
their recommendation that:
"the ENMAX offer is in the best interests of shareholders of Cordero and
that shareholders of Cordero should accept the ENMAX offer and tender
their shares thereto"
There is nothing "sweetened" from Ember and the Cordero board
recommendation was based on Ember's most recent offer.
ENMAX Corporation, through subsidiaries and predecessors, has provided
Albertans with safe and reliable electricity for more than 100 years. ENMAX
provides electricity, natural gas and value-added services to more than half a
million residential, commercial and industrial customer accounts in Alberta.
Through a subsidiary, ENMAX Energy is one of Alberta's largest investors in
renewable energy with partial ownership of the McBride Lake Wind Farm and
complete ownership of the Taber Wind Farm. ENMAX Energy's Greenmax was one of
the first green power marketing programs in Canada, and celebrates its 10th
anniversary in 2008. Visit our website at enmax.com.
You can choose any retailer listed at www.ucahelps.gov.ab.ca or at
310-4822. Electricity delivery to your home or business isn't affected by your
choice of retailer.
THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
For further information:
For further information: The ENMAX Media Line, (403) 689-6150