Essent's shareholders agree to the strategy of Essent’s commercial arm, of eventually seeking to join up with an international partner. This was decided today at an Extraordinary General Meeting of Shareholders. It fits in with Essent's long-term strategy, which sees this as vital if it is to reach a powerful position on the European energy market.

Increase in scale

A significant increase in scale is essential for both Essent and its customers. In the light of the scarcity of raw materials and production volumes, the only way to achieve optimum price stability and security of supply is with an adequate volume of turnover and larger scale. Futhermore, an expansion in scale will contribute to an increase in the affordability and reliability of the energy supply and to making it more sustainable, which is one of
Essent's chief concerns.

Consequences for shareholders

In a situation of collaboration with a strategic partner, the share of shareholders will be watered down and shareholders will move into a playing field of a company with a strong international character. So, opportunities for exerting influence will be reduced. To avoid such a situation, it is vital that shares should be transferred at a time chosen as
favourable to Essent and the shareholders. The shares of the network company – which as of next 1st January will start operating under the name Enexis – will remain in government hands. With regards to the network company, the shareholders have declared that there must be sufficient room for investment.