Hampton, NH (April 17, 2008): Unitil Corporation (AMEX:UTL) held its Annual Meeting of Shareholders today at the corporate office in Hampton, New Hampshire. Shareholders re-elected Robert V. Antonucci, David P. Brownell, Albert H. Elfner, III, Michael B. Green, and M. Brian O'Shaughnessy to the Board of Directors for three-year terms.
"Our financial performance in 2007 reflects the progress we have made on our core strategies," said Robert G. Schoenberger, Unitil's Chairman and Chief Executive Officer. "Usource is growing, we have maintained a consistent and positive regulatory presence for our energy distribution operations, and now we have the opportunity to grow the company through the acquisition of Northern Utilities and Granite State Gas Transmission."
In his presentation at the meeting, Mr. Schoenberger reviewed Unitil's 2007 financial and operational performance which continued to exceed comparative benchmarks. The presentation included a report on the progress towards completion of Unitil's $160 million acquisition of Northern Utilities and Granite State Gas Transmission. Regulatory approvals are expected by October 1 and the target closing date is November 1. Mr. Schoenberger's presentation is available on the Company website at www.unitil.com.
Unitil Corporation is a public utility holding company with subsidiaries providing electric service in New Hampshire, electric and gas service in Massachusetts and energy services throughout the northeast.
This news release contains forward-looking statements, which 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 include, but are not limited to; variations in weather, changes in the regulatory environment, customers' preferences on energy sources, general economic conditions, increased competition and other uncertainties, all of which are difficult to predict, and many of which are beyond the control of the Company.
Contact
Mark Collin
collin@unitil.com
Corporate Office
Liberty Lane West
Hampton, NH 03842-1720
800/999-6501
