-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, T6zIKFiP1DqZK6TNZWjm5iLEkGUrw1ewhAJYaU5AyL1ss3yzof392A4F4/AWaPpZ GCXz/IGfms3TOCwN1NrXbQ== 0001029590-99-000003.txt : 19990107 0001029590-99-000003.hdr.sgml : 19990107 ACCESSION NUMBER: 0001029590-99-000003 CONFORMED SUBMISSION TYPE: 35-CERT PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 19990106 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CONECTIV INC CENTRAL INDEX KEY: 0001029590 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 510377417 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 35-CERT SEC ACT: SEC FILE NUMBER: 070-09069 FILM NUMBER: 99501423 BUSINESS ADDRESS: STREET 1: 800 KING STREET P O BOX 231 CITY: WILMINGTON STATE: DE ZIP: 19899 BUSINESS PHONE: 3024293114 MAIL ADDRESS: STREET 1: 800 KING ST STREET 2: P O BOX 231 CITY: WILMINGTON STATE: DE ZIP: 19899 35-CERT 1 1 Filed with the Securities And Exchange Commission On January 6, 1999 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 In the Matter of INTERIM CERTIFICATE Conectiv OF File No. 70-9069 NOTIFICATION (Public Utility Holding Company PURSUANT TO RULE 24 Act of 1935) This Certificate of Notification pursuant to Rule 24 (18 C.F.R. Section 250.24) is filed by Conectiv, a Delaware corporation, in connection with the following transactions proposed in Conectiv's Form U-1 Application-Declaration as amended by Amendments Nos. 1 through 4 and Post- effective Amendments Nos. 1 and 2, (the "Application-Declaration") filed under the Public Utility Holding Company Act of 1935, as amended (the "Act"), and authorized by the order of the Securities and Exchange Commission (the "Commission") dated February 25,1998 (the "Order") in this file: (1) On March 1, 1998, a Certificate of Merger, duly and validly filed with the Secretaries of State of the State of Delaware and the Commonwealth of Virginia on February 27, 1998, became effective, thereby merging DS Sub, Inc. ("DS Sub") with and into Delmarva Power & Light Company ("Delmarva"). Also, on March 1, 1998, Certificates of Merger duly and validly filed with the Secretaries of State of the States of New Jersey and Delaware on February 27, 1998, became effective, thereby merging Atlantic Energy, Inc. ("Atlantic") with and into Conectiv, Inc. On March 1, 1998, pursuant to Section 102 (a) of the Delaware General Corporate Law, Conectiv, Inc. changed its name to Conectiv. The merger of DS Sub with and into Delmarva with Delmarva as the surviving corporation and the merger of Atlantic with and into Conectiv, Inc. with Conectiv Inc. as the surviving corporation, were effective March 1, 1998 and resulted in the acquisition by Conectiv Inc. of all issued and 2 outstanding shares of common stock of: Delmarva; Atlantic City Electric Company, a public utility company and formerly a wholly owned subsidiary of Atlantic; Atlantic Enterprises, Inc., which will serve as a sub-holding company for certain of the Conectiv system's non-utility companies and interests; and Atlantic Energy International, Inc., a company formed to provide utility consulting services and equipment sales to international markets. On March 1, 1998, Conectiv Solutions LLC became a wholly owned subsidiary of Conectiv after Atlantic's interest dissolved with the consummation of the mergers and Delmarva's interest was transferred to Conectiv; (2) Upon the consummation of the mergers of DS Sub into Delmarva and Atlantic into Conectiv on March 1, 1998, in accordance with the Merger Agreement, each issued and outstanding share of Delmarva common Stock was converted into the right to receive one share of Conectiv Common Stock, and each issued and outstanding share of Atlantic Common Stock was converted into the right to receive .75 of one share of Conectiv Common Stock and .125 of one share of Conectiv Class A Common Stock effective March 1, 1998. Conectiv issued Common Stock and Conectiv Class A Common Stock in connection with such mergers pursuant to the Merger Agreement; (3) On March 2, 1998, Delmarva paid a dividend to Conectiv consisting of all issued and outstanding shares of capital stock of: (a) Delmarva Services Company, a company which was formed to own and finance an office building leased to affiliated companies and which holds ownership of approximately 2.9% of the common stock of Chesapeake Utilities Corporation, a publicly traded utility company; (b) Delmarva Energy Company, a company engaged, directly and through a subsidiary, in Rule 58 energy marketing activities; (c) Conectiv Communications, Inc., an exempt telecommunications company providing a full range of retail and wholesale telecommunications services; (d) Delmarva Capital Investments, Inc., a sub-holding company for a variety of unregulated investments; and (e) Conectiv Services, Inc., a company providing, directly and through subsidiaries, a wide range of energy-related goods and services to industrial, commercial and residential customers; (4) Conectiv acquired 1,000 shares of common stock of 3 Conectiv Resource Partners, Inc., a company formed to serve as the mutual service company for the Conectiv System, pursuant to section 13 of Act. On March 1, 1998, Resource entered into individual service agreements (in the form of Exhibit B to the Application-Declaration) with Conectiv and its direct subsidiaries. The transactions described in paragraphs 1 through 4 have been carried out in accordance with the terms and conditions of, and for the purposes requested in, the Application-Declaration, and in accordance with the terms and conditions of the Order. Filed herewith are conformed copies of the final opinions of counsel. Capitalized terms used herein without definition have the meanings ascribed to them in the Application-Direction. This Certificate of Notification and the opinions of counsel included herein as exhibits are applicable only to the merger-related transactions described in the Application Direction, as herein defined. Post-effective Amendments Nos. 3 and 4 in File No. 70-9069 request a supplemental order and will be covered in certificates pursuant to Rule 24 after the supplemental order is issued and the proposed transactions are consummated. S I G N A T U R E Pursuant to the requirements of the Public Utility Holding Company Act of 1935, as amended, the undersigned company has duly caused this document to be signed on its behalf by the undersigned thereunto duly authorized. CONECTIV By: /s/ Louis M. Walters Louis M. Walters Treasurer Dated: January 6, 1999 4 EXHIBIT INDEX Exhibit Number Exhibit F-2.1 Past-Tense Opinion of Randall V. Griffin, Esq. F-2.2 Past-Tense Opinion of Peter F. Clark, Esq. EX-1 2 1 Exhibit F-2.1 January 6, 1999 Securities and Exchange Commission 450 Fifth Street, N.W. Washington, D.C. 20549 Re: Conectiv (File No. 70-9069) Ladies and Gentlemen: As Senior Counsel for Conectiv, a Delaware corporation ("Conectiv"), I have acted as counsel to Conectiv and Atlantic Energy, Inc., a New Jersey corporation ("Atlantic") with respect to the matters described in the application and declaration, as amended by pre-effective amendments No. 1, 2, 3 and 4 and post-effective amendments No. 1 and 2 on Form U-1 to the Securities and Exchange Commission (the "Commission") filed by Conectiv (File No. 70-9069) (the "Application"). The Application sought the Commission's authorization under the Public Utility Holding Company Act of 1935, as amended (the "Act"), for a series of transactions (the "Transactions"). An order was issued by the Commission approving the Application on February 25, 1998 (the "Order"). Post-effective amendments 3 and 4 to the Application request a supplemental order and will be covered in certificates pursuant to Rule 24 after the supplemental order is issued and the proposed transactions are consummated. The Application sought approval for the merger of Atlantic with and into Conectiv and the merger of DS Sub, Inc., a Delaware corporation and a subsidiary of Conectiv ("DS Sub") with and into Delmarva Power and Light Company, a Delaware and Virginia corporation ("Delmarva"). The Application also sought approval for a number related corporate actions, including: (i) the acquisition by Conectiv of the gas properties of Delmarva; (ii) the continued operation of Delmarva as a combination gas and electric utility company; (iii) the acquisition by Conectiv of the nonutility activities, businesses and investments of Delmarva and Atlantic; and (iv) the designation of Conectiv Resource Partners, Inc. ("CRP") as a subsidiary service company under the Act. I or attorneys in whom I have confidence are familiar with the nature and character of the proposed Transactions and with the corporate proceedings taken by Conectiv, Atlantic and CRP as described in the Application. I am a member of the bar of the State of New Jersey, the state in which Atlantic was incorporated and in which Atlantic City Electric Company conducts most of its utility operations. 2 In connection with this opinion, I have examined, or caused to be examined the Application and various exhibits thereto, the minutes of various meetings of the Board of Directors of Atlantic, the laws of the State of New jersey, the certificate of incorporation and bylaws of Atlantic and such other documents as I deem necessary for the purpose of this opinion. In such examination I have assumed the genuineness of all signatures and the authenticity of all documents submitted to me as originals and the conformity with the originals of all documents submitted to me as copies. As to various questions of fact material to such opinions I have, when relevant facts were not independently established, relied upon certificates of officers of Atlantic and other appropriate persons and statements contained in the Application and the exhibits thereto. Based upon the foregoing and subject to the assumption and condition set forth herein, I am of the opinion that: 1. All laws of the State of New Jersey applicable to the proposed Transactions have been complied with; 2. Atlantic was validly organized and duly existing prior to the completion of the Transactions; and 3. The shares of common stock of Atlantic City Electric Company and its nonutility subsidiaries acquired by Conectiv as a result of the merger of Atlantic with and into Conectiv were legally acquired by Conectiv; and 4. The Transactions have been carried out in accordance with the Application. I hereby consent to the filing of this opinion together with the Certificate of the Company filed pursuant to Rule 24. Very truly yours, /s/ Randall V. Griffin Randall V. Griffin EX-2 3 1 Exhibit F-2.2 January 6, 1999 Securities and Exchange Commission 450 Fifth Street, N.W. Washington, D.C. 20549 Re: Conectiv (File No. 70-9069) Ladies and Gentlemen: As General Counsel for Delmarva Power & Light Company, a Delaware and Virginia corporation ("Delmarva"), and Conectiv, a Delaware corporation ("Conectiv"), I have acted as counsel to Delmarva and Conectiv with respect to Conectiv's application and declaration, as amended by pre effective amendments No. 1, 2, 3 and 4 and post-effective amendments No. 1 and 2 on Form U-1 to the Securities and Exchange Commission (the "Commission") in File No. 70-9069 (the "Application"). The Application sought the Commission's authorization under the Public Utility Holding Company Act of 1935, as amended (the "Act"), for a series of transactions (the "Transactions"). An order was issued by the Commission approving the Application on February 25, 1998 (the "Order"). Post-effective amendments 3 and 4 to the Application request a supplemental order and will be covered in certificates pursuant to Rule 24 after the supplemental order is issued and the proposed transactions are consummated. The Application sought approval for the merger of Atlantic Energy, Inc. ("Atlantic") with and into Conectiv and the merger of DS Sub, Inc., a Delaware corporation and a subsidiary of Conectiv ("DS Sub"), with and into Delmarva. The Application also sought approval for a number of related corporate actions, including: (i) the acquisition by Conectiv of the gas properties of Delmarva; (ii) the continued operation of Delmarva as a combination gas and electric utility company; (iii) the acquisition by Conectiv of the nonutility activities, businesses and investments of Delmarva and Atlantic; and (iv) the designation of Conectiv Resource Partners, Inc. ("CRP") as a subsidiary service company under the Act. I or attorneys in whom I have confidence are familiar with the nature and character of the Transactions and with the corporate proceedings taken by Conectiv, Delmarva, DS Sub and CRP, as described in the Application. I am a member of the bar of the State of Delaware, a state in which Delmarva and Conectiv are incorporated (and the state in which DS Sub was incorporated) and in which Delmarva 2 conducts most of its utility operations. I am also a member of the bar of the Commonwealth of Virginia, a state in which Delmarva is incorporated and conducts utility operations. I am not a member of the bars of the State of Maryland, a state in which Delmarva conducts utility operations, or the Commonwealth of Pennsylvania, a state in which Delmarva owns electric generating and related transmission facilities, and do not hold myself out as an expert in the laws of such states, although I have consulted with counsel to Delmarva who are expert in such laws. For purposes of this opinion, I have relied on advice from counsel employed or retained by Delmarva and Conectiv who are members of the bars of the State of Maryland and the Commonwealth of Pennsylvania. In connection with this opinion, I have examined, or caused to be examined, the Application and various exhibits thereto, the minutes of various meetings of the Boards of Directors of Conectiv, Delmarva and DS Sub, the laws of the States of Delaware and Maryland and of the Commonwealths of Virginia and Pennsylvania, the certificates of incorporation and bylaws of Conectiv, Delmarva and DS Sub and such other documents as I deem necessary for the purposes of this opinion. In such examination, I have assumed the genuineness of all signatures and the authenticity of all documents submitted to me as originals and the conformity with the originals of all documents submitted to me as copies. As to various questions of fact material to such opinions, I have, when relevant facts were not independently established, relied upon certificates of officers of Conectiv, Delmarva and DS Sub and other appropriate persons and statements contained in the Application and the exhibits thereto. Based upon the foregoing and subject to the assumptions and conditions set forth herein, I am of the opinion that: 1. All laws of the States of Delaware and Maryland and of the Commonwealths of Virginia and Pennsylvania applicable to the proposed Transactions have been complied with; 2. Delmarva and Conectiv are validly organized and duly existing. DS Sub was validly organized and duly existing and has been merged with and into Delmarva; 3. The shares of Conectiv Common Stock and Conectiv Class A Common Stock issued in connection with the Transactions have been validly issued and are fully paid and nonassessable, and the holders thereof are entitled to the rights and privileges appertaining thereto set forth in the Restated Certificate of Incorporation of Conectiv. The shares of common stock of CRP issued to Conectiv in connection with the establishment of CRP as a subsidiary of Conectiv have been validly issued and are fully paid and nonassessable, and Conectiv, as the holder thereof, is entitled to the rights and privileges appertaining thereto set forth in the instrument of 3 incorporation of CRP; 4. Conectiv has legally acquired (a) the shares of common stock of Delmarva that it acquired as a result of the merger of DS Sub with and into Delmarva, (b) the shares of common stock of Atlantic City Electric Company ("ACE"), and the nonutility subsidiaries of ACE that it acquired as a result of the merger of Atlantic with and into Conectiv and (c) the shares of common stock of the nonutility subsidiaries of Delmarva that it acquired as a result of the dividend by Delmarva to Conectiv of all issued and outstanding shares of common stock of these subsidiaries; 5. The consummation of the Transactions did not violate the legal rights of the holders of any securities issued by Conectiv or any associate company of Conectiv; and 6. The Transactions have been carried out in accordance with the Application. I hereby consent to the filing of this opinion together with the Certificate of the Company filed pursuant to Rule 24. Very truly yours, /s/ Peter F. Clark Peter F. Clark -----END PRIVACY-ENHANCED MESSAGE-----