Shareholders Approve Sierra Pacific Resources’ Name Change to NV Energy, Inc.
19 November 2008 - 7:43PM
Business Wire
Shareholders of Sierra Pacific Resources (NYSE:SRP) today approved
changing the corporate name to NV Energy, Inc. Effective tomorrow,
November 20, 2008, NV Energy, Inc. will be traded on the New York
Stock Exchange under the trading symbol �NVE.� Michael Yackira,
president and chief executive officer, said, �We are very pleased
that our shareholders overwhelmingly approved our board�s
recommendation to rename the company. Since September, our
utilities have been doing business under the NV Energy name which
better reflects our company�s top priority of providing energy
products and services in Nevada for Nevadans.� The proposal to
change the name to NV Energy, Inc. received a preliminary total of
206,548,499 affirmative votes, constituting 88.2 percent of the
company�s outstanding shares and 98.2 percent of the total votes
that were recorded at today�s meeting. Headquartered in Nevada, NV
Energy, Inc. is a holding company whose principal subsidiaries are
Nevada Power Company, the electric utility for most of southern
Nevada, and Sierra Pacific Power Company, the electric utility for
most of northern Nevada and the Lake Tahoe area of California. Both
subsidiaries are doing business as NV Energy. NV Energy also
distributes natural gas in the Reno-Sparks area of northern Nevada.
These statements contain forward-looking statements regarding the
future performance of NV Energy, Inc., within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements
are subject to a variety of risks and uncertainties that could
cause actual results to differ materially from current
expectations. These risks and uncertainties include, but are not
limited to, NYSE approval to amend NV Energy�s ticker symbol and
amendments to the company�s strategic plans. Additional cautionary
statements regarding other risk factors that could have an effect
on the future performance of NV Energy, Inc., are contained in
Sierra Pacific Resources� Annual Report on Form 10-K and/or Form
10-K/A for the year ended December 31, 2007 and in its Quarterly
Reports on Form 10-Q for the quarters ended March 31, 2008, June
30, 2008 and September 30, 2008, filed with the SEC. NV Energy,
Inc. undertakes no obligation to release publicly the result of any
revisions to these forward-looking statements that may be made to
reflect events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events.
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