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Exhibit 99.1
LACLEDE GAS COMPANY
720 OLIVE STREET
ST. LOUIS, MISSOURI 63101
DOUGLAS H. YAEGER
CHAIRMAN OF THE BOARD
PRESIDENT
AND
CHIEF EXECUTIVE OFFICER
December 15, 2000
Dear Shareholder:
We are pleased to invite you to our annual meeting of shareholders to
be held on January 25, 2001 at 10:00 a.m. at the Marriott Pavilion Hotel, One
Broadway, St. Louis, Missouri.
This year's meeting has added importance to you as a shareholder of
Laclede Gas Company. The board of directors recommends that you vote to adopt a
new holding company structure for the company.
We describe the reasons for this holding company structure in the
accompanying proxy statement/prospectus. Your board of directors recommends this
action to better provide a structure for successfully operating in the company's
regulated utility business as well as in markets that are nonregulated.
Every vote is important. Approval of the holding company structure
requires the favorable vote of at least two-thirds of our outstanding common
shares. This year you can vote in one of three ways: use the toll free number
shown on your proxy card; visit the website shown on your proxy card to vote via
the Internet; or mark, sign, date and promptly return the proxy card in the
enclosed postage paid envelope. If you do not vote before or at the meeting,
that will have the effect of a vote "against" the holding company structure. If
you own your shares through a stockbroker and you do not vote, that will also
have the effect of a vote "against" the holding company structure.
We ask that you please vote your proxy -- even if you are planning to
attend the meeting. This year, more than most years, every share voted has great
significance to the future of your company. Without approval by at least
two-thirds majority vote, your company will be hindered by constraints not
applicable to competitors and peers as we continue our pursuit of enhanced value
for our shareholders. PLEASE VOTE USING ONE OF THE METHODS DESCRIBED ON YOUR
PROXY CARD AS SOON AS POSSIBLE.
In addition to the vote on the holding company structure, shareholders
will vote on electing three directors and ratification of appointment of
independent accountants. These matters are also described in the attached proxy
statement/prospectus.
We are excited about this holding company proposal and the
opportunities it may provide for the company. We thank you in advance for
sending your proxy this year.
Sincerely,
/s/ Douglas H. Yaeger
Douglas H. Yaeger
Chairman of the Board, President
and Chief Executive Officer
