Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Corning Natural Gas Holding Corporation Announces End of “Go Shop” Period Under Merger Agreement
Corning Natural Gas Holding Corp.February 26, 2021 GMT
CORNING, N.Y., Feb. 26, 2021 (GLOBE NEWSWIRE) Corning Natural Gas Holding Corporation (OTCPK: CNIG) (“Corning” or the “Company”), a holding company operating natural gas and electric utilities serving approximately 21,000 customers in two states, today announced the expiration of the 45-day “go shop” period pursuant to the terms of the previously announced definitive merger agreement under which an affiliate of Argo Infrastructure Partners, LP (“Argo”) agreed to acquire all of the outstanding shares of Corning common stock for $24.75 per share in cash (the “Merger Agreement”).
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Corning Natural Gas Holding Corporation to be Acquired by Argo Infrastructure Partners, LP for .
Corning Natural Gas Holding Corp.January 13, 2021 GMT
CORNING, N.Y., Jan. 13, 2021 (GLOBE NEWSWIRE) Corning Natural Gas Holding Corporation’s (Corning or the Company) Board of Directors announced they have reached an agreement with an affiliate of Argo Infrastructure Partners, LP (Argo), an independent infrastructure investment manager, in an acquisition worth approximately $150 million. Argo has agreed to acquire all the shares outstanding of Corning common stock (OTCQX: CNIG) for $24.75/share.
PUC probes Pike County Light & Power s rate request
Impact electric, natural gas rates
Tri-County Independent
HARRISBURG – The Pennsylvania Public Utility Commission (PUC) on Dec. 17 voted to investigate proposed rate increases submitted by Pike County Light & Power Co. (PCL&P) to increase its electric and natural gas distribution rates.
The Commission voted 4-0 to suspend the proposed rate increase requests for up to seven months from the time the rates would otherwise have become effective, and to assign the case to the PUC’s Office of Administrative Law Judge (OALJ) for corresponding proceedings and the issuance of a recommended decision. A final decision must be made by July 28, 2021.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Corning Natural Gas Holding Corporation Reports Improved Annual Earnings and Declares Quarterly .
Corning Natural Gas Holding Corp.December 21, 2020 GMT
CORNING, N.Y., Dec. 21, 2020 (GLOBE NEWSWIRE) Corning Natural Gas Holding Corporation (OTCQX: CNIG) announced consolidated earnings of $2.957 million or $0.95 (diluted) per common share for the fiscal year ended September 30, 2020. This compares to consolidated earnings of $2.880 million or $0.94 (diluted) per common share for the fiscal year ended September 30, 2019. CFO Charles Lenns stated, “The company earnings were positively impacted by increased margins and reduced income tax expense that were offset by unfavorable weather, higher interest expense, and COVID impacts.”
Share:
CORNING, N.Y., Dec. 21, 2020 (GLOBE NEWSWIRE) Corning Natural Gas Holding Corporation (OTCQX:CNIG) announced consolidated earnings of $2.957 million or $0.95 (diluted) per common share for the fiscal year ended September 30, 2020. This compares to consolidated earnings of $2.880 million or $0.94 (diluted) per common share for the fiscal year ended September 30, 2019. CFO Charles Lenns stated, The company earnings were positively impacted by increased margins and reduced income tax expense that were offset by unfavorable weather, higher interest expense, and COVID impacts.
Net loss for the three months ended September 30, 2020 were $0.576 million compared to $0.373 million for the same three months in 2019. Earnings were negatively affected primarily by higher interest expense, including debt incurred to acquire the remaining 50% interest in Leatherstocking Gas Company.