Enterprise Group Announces Proposed Name Change to Evolution PowerX Corp.
Enterprise Group (E.TO) on Tuesday said it will ask shareholders to approve changing its name to Evolution PowerX Corp.The company said the change will reflect its business as "a leading provider of distributed natural gas turbine power generation, microgrid systems, and integrated power infrastructure solutions"."As our power division becomes a larger contributor to revenue, EBITDA, asset deployment, and future growth, we believe the Company should increasingly be evaluated as a power solutions and energy infrastructure business," said president Desmond O'Kell.. "Evolution PowerX Corp. better reflects the scale of our ambition, the strength of our platform, and the markets we intend to serve."The company's shares will continue to trade under the symbol "E" following the name change, it said and added that it will provide further updates regarding the effective date of the name change once it is finalized.Shareholders will vote on the change on June 25.The company's shares were last seen up $0.02 to $1.29 on the Toronto Stock Exchange.Price: $1.29, Change: $+0.02, Percent Change: +1.57%
