AMERICAN STATES WATER COMPANY (NYSE:AWR) Files An 8-K Other Events
Item 8.01. Other Events
San Dimas, California, April 13, 2017 . . . American States Water
Company (NYSE:AWR) announced today that on April 12, 2017 the
Board of Directors of Casitas Municipal Water District (Casitas)
approved a settlement agreement with Golden State Water Company
(GSWC), a wholly owned subsidiary of AWR, and a group of citizens
referred to as Ojai Friends of Locally Owned Water (Ojai FLOW) to
resolve an eminent domain action and other litigation brought by
Casitas and Ojai FLOW against GSWC. Under the terms of the
settlement agreement, Casitas will acquire the operating assets
of GSWCs Ojai water system by eminent domain for approximately
$34.5 million, including payments for unpaid receivables and
regulatory assets subject to a post-closing final reconciliation.
Under the agreement, Casitas and Ojai FLOW have also agreed to
dismiss all claims against GSWC, which sought damages against
GSWC stemming from Casitas proposal to issue bonds to finance the
acquisition of GSWCs Ojai water system. GSWC, which has owned and
operated the 2,900-connection Ojai water system since 1929, will
continue operating the water system until all conditions to the
settlement agreement have completed. It is estimated that the
transaction will close in June 2017 following satisfaction of all
closing conditions.
A copy of the Companys press release is attached hereto as
Exhibit 99.1. This Form 8-K and the attached exhibit are
furnished to, but not filed with, the Securities and Exchange
Commission.
Section 9 Financial Statement and Exhibits
Item 9.01. Financial Statements and Exhibits
Exhibit No. |
Description |
99.1 |
Press Release: American States Water Company Announces |
About AMERICAN STATES WATER COMPANY (NYSE:AWR)
American States Water Company (AWR) is a holding company. The Company is the parent company of Golden State Water Company (GSWC) and American States Utility Services, Inc. (ASUS), as well as various subsidiaries of ASUS. The Company’s segments include water, electric and contracted services. Within the segments, AWR has two principal business units, water and electric service utility operations, conducted through GSWC, and contracted services conducted through ASUS and its subsidiaries. GSWC is a public utility engaged principally in the purchase, production, distribution and sale of water in approximately 10 counties in the State of California. GSWC also distributes electricity in various San Bernardino County mountain communities in California through its Bear Valley Electric Service division. ASUS operates, maintains and performs construction activities, including renewal and replacement capital work, on water and/or wastewater systems at various United States military bases. AMERICAN STATES WATER COMPANY (NYSE:AWR) Recent Trading Information
AMERICAN STATES WATER COMPANY (NYSE:AWR) closed its last trading session down -0.12 at 44.79 with 71,983 shares trading hands.