July 8 (Reuters) - Just Energy Group Inc JE.TO :
* JUST ENERGY ANNOUNCES RECAPITALIZATION AND PENDING BOARD RENEWAL, STRENGTHENING AND DE-RISKING THE BUSINESS TO POSITION THE COMPANY FOR SUSTAINABLE GROWTH AS A LEADING ENERGY RETAILER
* JUST ENERGY GROUP INC - EXTENSION OF C$335 MILLION SECURED CREDIT FACILITIES BY THREE YEARS TO DECEMBER 2023
* JUST ENERGY GROUP INC - NEW CASH EQUITY INVESTMENT COMMITMENT OF C$100 MILLION
* JUST ENERGY GROUP INC - INITIAL REDUCTION OF ANNUAL CASH INTEREST EXPENSE BY APPROXIMATELY C$45 MILLION
* JUST ENERGY GROUP INC - IMPLEMENTATION OF RECAPITALIZATION EXPECTED IN SEPTEMBER 2020
* JUST ENERGY GROUP INC - EXTENSION OF UNSECURED DEBT OF US$205.9 MILLION TO MARCH 2024 WITH INTEREST TO BE PAID-IN-KIND
* JUST ENERGY GROUP INC - CONVERSION OF C$420 MILLION SUBORDINATED CONVERTIBLE DEBENTURES AND PREFERRED SHARES INTO NEW EQUITY
* JUST ENERGY GROUP INC - RECONSTITUTION OF BOARD OF DIRECTORS WITH AT LEAST FOUR NEW DIRECTORS
* JUST ENERGY GROUP - RECAPITALIZATION WILL RESULT IN A REDUCTION OF ABOUT C$535 MILLION IN NET DEBT AND PREFERRED SHARES
* JUST ENERGY GROUP INC - SIZE OF BOARD WILL BE FIXED AT SEVEN DIRECTORS, OF WHICH AT LEAST FOUR WILL BE NEW DIRECTORS AND WITH A SEPARATE CHAIR AND CEO
* JUST ENERGY GROUP INC - PLAN WILL ALSO INCLUDE A 1-FOR-33 SHARE CONSOLIDATION
* JUST ENERGY GROUP INC - HAS ENTERED INTO A SUPPORT AGREEMENT WITH ALL OF ITS LENDERS UNDER EXISTING TERM LOAN