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Enerflex Ltd
Symbol EFX
Shares Issued 123,956,865
Close 2024-04-26 C$ 8.11
Market Cap C$ 1,005,290,175
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Enerflex wins appeal against Mexican labour board

2024-04-29 09:26 ET - News Release

Mr. Marc Rossiter reports

ENERFLEX PREVAILS IN APPEAL OF MEXICAN LABOR BOARD DECISION AND ANNOUNCES TIMING OF FIRST QUARTER RESULTS

Enerflex Ltd. has provided an update with regard to a continuing legal proceeding in Mexico.

The Tenth Circuit Collegiate Court on Labor Matters in Mexico has published a decision setting aside a Jan. 31, 2022, decision of a labour board in the state of Tabasco, Mexico, that had ordered subsidiaries of Exterran Corp. (now subsidiaries of Enerflex) to pay a former employee $2,152-million Mexican pesos (approximately $125-million (U.S.)), plus other benefits, in connection with a dispute relating to the employee's severance pay following termination of his employment in 2015.

In rendering its decision, the court ruled in favour of Enerflex's arguments that the labour board ruling was in error and had no credible basis in law or fact. The matter has now been returned to the labour board to issue a new judgement in accordance with the court's ruling and directives, which support the company's view that the labour board's ultimate resolution will be immaterial to its financial results.

First quarter 2024 results

Enerflex plans to release its financial results and operating highlights for the three months ended March 31, 2024, after market close on Tuesday, May 7, 2024. Results will be communicated by news release and will be available on the company's website and under the electronic profile of the company on SEDAR+ and EDGAR.

Effective Jan. 1, 2024, the company has changed its presentation currency from Canadian dollars to United States dollars to provide more relevant reporting of the company's financial position.

Investors, analysts, members of the media and other interested parties are invited to participate in a conference call and audio webcast on Wednesday, May 8, 2024, at 8 a.m. MT, where members of senior management will discuss the company's results. A question-and-answer period will follow.

Once registered, participants will receive the dial-in numbers and a unique personal identification number to enter the call. The audio webcast of the conference call will be available on the Enerflex website.

About Enerflex Ltd.

Enerflex is a premier, integrated, global provider of energy infrastructure and energy transition solutions, deploying natural gas, low-carbon and treated water solutions -- from individual, modularized products and services to integrated custom solutions. With over 4,500 engineers, manufacturers, technicians and innovators, Enerflex is bound together by a shared vision: transforming energy for a sustainable future. The company remains committed to the future of natural gas and the critical role it plays, while focused on sustainability offerings to support the energy transition and growing decarbonization efforts.

We seek Safe Harbor.

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