Glass, Lewis & Co. and PROXY Governance, Inc. Recommend Chesapeake Utilities Corporation Shareholders Vote 'FOR' Proposed Merger
12 Octubre 2009 - 3:00PM
PR Newswire (US)
Two Independent Proxy Advisors Announce Their Support for Strategic
Merger With Florida Public Utilities; Recommend Chesapeake
Shareholders Vote For the Merger at Special Meeting on October 22,
2009 DOVER, Del., Oct. 12 /PRNewswire-FirstCall/ -- Chesapeake
Utilities Corporation (NYSE:CPK) today announced that Glass, Lewis
& Co. and PROXY Governance, Inc., two independent proxy
advisory firms, have each recommended that Chesapeake shareholders
vote "FOR" the strategic merger with Florida Public Utilities (NYSE
Amex: FPU) at Chesapeake's Special Meeting of Shareholders on
October 22, 2009. "We are very pleased that these two independent
shareholder advisory firms have determined that this transaction is
in the best interests of Chesapeake's shareholders and recommended
that they vote for our strategic merger with Florida Public
Utilities," said John R. Schimkaitis, President and Chief Executive
Officer of Chesapeake. "Their recommendations support our Board of
Directors' unanimous decision that Chesapeake's merger with Florida
Public Utilities enhances shareholder value and should, therefore,
be supported." Glass, Lewis, in its report recommending that
Chesapeake shareholders vote for the merger with Florida Public
Utilities, concluded, in part, "We believe the proposed transaction
and share issuance are in the best interests of shareholders.
Accordingly, we recommend that shareholders vote FOR this
proposal." PROXY Governance, in its report recommending that
Chesapeake's shareholders approve of the merger with Florida Public
Utilities, concluded, in part, "We support the deal on the basis of
its strategic and synergistic benefits, which should benefit
long-term shareholders." Chesapeake Utilities Corporation
encourages all stockholders to follow the recommendations of Glass,
Lewis and PROXY Governance and vote their shares promptly by phone,
via Internet, or by mailing their proxy card; or to contact
Chesapeake's proxy solicitors, Georgeson Inc., toll free at
888.666.2580, if they have any questions or need any assistance in
voting their shares. About Chesapeake Utilities Corporation
(http://www.chpk.com/) Incorporated in 1947, Chesapeake is a
diversified utility company engaged in natural gas distribution,
transmission and marketing, propane distribution and wholesale
marketing, advanced information services and other related
businesses. In total, Chesapeake currently serves approximately
100,000 distribution customers with either natural gas or propane
gas. Chesapeake employs 448 people and posted $291.4 million in
revenue for 2008. Chesapeake's natural gas distribution operations
serve approximately 65,000 residential, commercial and industrial
customers in Delaware, Maryland and Florida. Eastern Shore Natural
Gas Company, Chesapeake's natural gas transmission subsidiary,
transports and delivers natural gas through 379 miles of
transmission pipeline to industrial customers and natural gas
distribution companies including Chesapeake's Delaware and Maryland
divisions, and owns and operates the only transmission pipeline
south of the Chesapeake and Delaware Canal. Sharp Energy,
Chesapeake's propane distribution subsidiary, distributes propane
to approximately 35,000 residential, commercial and industrial
customers in Delaware, Maryland, Virginia, Pennsylvania and
Florida. Chesapeake's other subsidiaries include Peninsula Energy
Services Company, Inc. (PESCO), a natural gas marketing company;
Peninsula Pipeline Company, Inc., an intrastate pipeline company in
Florida; Xeron, Inc., a propane wholesale marketing company in
Houston, Texas; and BravePoint®, Inc., Chesapeake's advanced
information services subsidiary based in Atlanta. IMPORTANT
INFORMATION: Additional Information and Where to Find It In
connection with the proposed merger, Chesapeake Utilities
Corporation ("Chesapeake") has filed a registration statement on
Form S-4 (Registration No. 333-160795) with the SEC, containing a
joint proxy statement of Chesapeake and Florida Public Utilities
and a prospectus of Chesapeake, which was declared effective on
September 10, 2009. WE URGE INVESTORS TO READ THE REGISTRATION
STATEMENT AND JOINT PROXY STATEMENT/PROSPECTUS AND THESE OTHER
MATERIALS CAREFULLY BECAUSE THEY CONTAIN IMPORTANT INFORMATION
ABOUT CHESAPEAKE, FLORIDA PUBLIC UTILITIES AND THE PROPOSED MERGER.
Investors are able to obtain free copies of the registration
statement and proxy statement/prospectus as well as other filed
documents containing information about Chesapeake and Florida
Public Utilities at http://www.sec.gov/, the SEC's website. Free
copies of Chesapeake's SEC filings are also available on
Chesapeake's website at investor.shareholder.com/CPK/sec.cfm and
free copies of Florida Public Utilities' SEC filings are also
available on Florida Public Utilities' website at
http://www.fpuc.com/about_us/invest.asp. This communication shall
not constitute an offer to sell or the solicitation of an offer to
buy securities, nor shall there be any sale of securities in any
jurisdiction in which such solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of
such jurisdiction. Participants in the Solicitation Chesapeake and
Florida Public Utilities and their respective directors, executive
officers, other members of management and employees may be deemed,
under SEC rules, to be participants in the solicitation of proxies
with respect to the proposed merger. Information about the
directors and executive officers of Florida Public Utilities is set
forth in the proxy statement for Florida Public Utilities' 2009
Annual Meeting of Stockholders, as filed with the SEC on a Schedule
14A on April 6, 2009 and Form 10-K filed with the SEC on March 20,
2009. Information about the directors and executive officers of
Chesapeake is set forth in the proxy statement for Chesapeake's
2009 Annual Meeting of Stockholders, as filed with the SEC on a
Schedule 14A on March 27, 2009 and Form 10-K filed with the SEC on
March 9, 2009. Additional information regarding the interests of
those participants and other persons who may be deemed participants
in the merger may be obtained by reading the registration
statement, joint proxy statement/prospectus and other materials
filed with the SEC regarding the proposed merger. You may obtain
free copies of these documents as described above. For more
information, contact: Beth W. Cooper Senior Vice President and
Chief Financial Officer Chesapeake Utilities Corporation
302.734.6799, Investor Inquiries: Jason Alexander Managing Director
- Corporate Proxy Georgeson Inc. 212.440.9903, DATASOURCE:
Chesapeake Utilities Corporation CONTACT: Beth W. Cooper, Senior
Vice President and Chief Financial Officer of Chesapeake Utilities
Corporation, +1-302-734-6799, ; Investors: Jason Alexander,
Managing Director - Corporate Proxy of Georgeson Inc.,
+1-212-440-9903, Web Site: http://www.chpk.com/
Copyright