TransAlta Renewables announces filing of management information circular
by CM staff
The purpose of the meeting is to seek shareholder approval in connection with the previously announced definitive arrangement agreement.
CALGARY — TransAlta Renewables Inc., has filed a management information circular along with the related meeting and proxy materials for its meeting of shareholders to be held on September 26 at 10:00 a.m. MST.
The meeting is being held in a virtual-only meeting format via live audio webcast at web.lumiagm.com/450755248 (password “transalta2023” (case sensitive)).
Shareholders of record as of the close of business on August 24, 2023, are entitled to receive notice of and vote at the Meeting. Details on how to vote and participate in the Meeting are available in the Meeting Materials. The Meeting Materials are currently being mailed to the Company’s shareholders and can be downloaded from the Company’s SEDAR profile at www.sedarplus.com. The Meeting Materials are also available at the Company’s website, www.transaltarenewables.com.
The purpose of the meeting is to seek shareholder approval in connection with the previously announced definitive arrangement agreement whereby TransAlta Corporation will acquire all of the issued and outstanding common shares of the company not already owned, directly or indirectly, by TransAlta and certain of its affiliates.
Under the terms of the arrangement, shareholders of the company may choose to receive for each company share: (a) 1.0337 common shares of TransAlta, or (b) $13.00 in cash.
The consideration payable to the company’s shareholders is subject to pro-rationing based on a maximum aggregate number of TransAlta shares that may be issued of 46,441,779 and a maximum aggregate amount of cash of $800 million.
In connection with its anticipated arrangement with TransAlta, the company terminated its dividend reinvestment plan effective August 23. The DRIP had been suspended since October 2020.
