Aquatera

In January 2003 a Letter of Intent was signed among shareholders to form Aquatera and we began operating with the transfer of assets and employees that May. In 2004 a unanimous shareholders agreement, bylaws, articles of association, and franchise agreements were signed by shareholders in to officially create our company. Aquatera assumed the assets of the Clairmont and Sexsmith water and wastewater systems in 2005.

In 2010 a new unanimous shareholders agreement, bylaws and articles of association were amended by shareholders and major changes were made to the board structure and providing guaranteed cash dividends with board discretion on increases. The changes improved governance and long term sustainability while reducing pressure for increases to rates. Effective in June 2011, a nine member board comprised of business, financial and legal professionals was unanimously appointed by Shareholders.