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Caribbean Utilities Company, Ltd. Announces Change to the Board of Directors

Source: 
Canada Newswire

GRAND CAYMAN, Cayman Islands, May 24, 2019 /CNW/ - Caribbean Utilities Company, Ltd. (TSX: CUP.U) ("CUC" or the "Company") announces the resignation of Mr. Alphonsus Delaney as Director of CUC, following his retirement from Fortis Inc, and the appointment of Mr. R. Scott Hawkes to the Board of Directors of the CUC. 

Mr. Hawkes, who currently holds the position of President and Chief Executive Officer of Fortis Ontario, has many years of leadership experience in electric utility operations and the governance of publicly traded companies.  Mr. Hawkes previously served as Corporate Secretary at CUC and Vice President, Corporate Services, General Counsel & Corporate Secretary at Fortis Ontario before rising to his current position as CEO.

Richard Hew, President and CEO, stated "We thank Mr. Delaney for his service to the Company and wish him well in his future endeavours.  We are pleased to welcome Mr. Hawkes as a new Director as he brings a wealth of knowledge and experience to the deliberations of our Board."

CUC provides electricity to Grand Cayman, Cayman Islands, under an Electricity Generation Licence expiring in 2039 and an exclusive Electricity Transmission and Distribution Licence expiring in 2028.  Further information is available at www.cuc-cayman.com.

Caribbean Utilities Company, Ltd. is listed for trading in United States dollars on the Toronto Stock Exchange under the trading symbol "CUP.U".

Caribbean Utilities Company, Ltd. ("CUC" or the "Company"), on occasion, includes forward-looking statements in its media releases, Canadian securities regulatory authorities filings, shareholder reports and other communications. Forward-looking statements include statements that are predictive in nature, depend upon future events or conditions, or include words such as "expects", "anticipates", "plan", "believes", "estimates", "intends", "targets", "projects", "forecasts", "schedule", or negative versions thereof and other similar expressions, or future or conditional verbs such as "may", "will", "should", "would" and "could". Forward-looking statements are based on underlying assumptions by their very nature and are subject to certain risks and uncertainties that may cause actual results to vary from plans, targets and estimates. Such risks and uncertainties include but are not limited to operational, regulation, general economic, market and business conditions and weather. CUC cautions readers that actual results may vary significantly from those expected should certain risks or uncertainties materialize or should underlying assumptions prove incorrect. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Caribbean Utilities Company, Ltd.

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