TransAlta (TSX: TA; NYSE: TAC) has announced that it will not redeem its Series G Preferred Shares on September 30, 2024. As a result, shareholders have the option to convert their Series G Shares into Series H Shares on a one-for-one basis. The dividend rates for both series will be announced on September 3, 2024.
Key points:
- Conversion Date: September 30, 2024
- Current outstanding Series G Shares: 6,600,000
- Conversion deadline: 3:00 p.m. (MST) / 5:00 p.m. (EST) on September 16, 2024
- Automatic conversion conditions apply if less than 1,000,000 shares remain in either series
- Series H Shares listing on TSX is conditionally approved
TransAlta (TSX: TA; NYSE: TAC) ha annunciato che non rimborserà le sue Azioni Preferenziali di Serie G il 30 settembre 2024. Di conseguenza, gli azionisti hanno la possibilità di convertire le loro Azioni di Serie G in Azioni di Serie H su base uno a uno. I tassi di dividendo per entrambe le serie saranno annunciati il 3 settembre 2024.
Punti chiave:
- Data di conversione: 30 settembre 2024
- Azioni di Serie G attualmente in circolazione: 6.600.000
- Scadenza per la conversione: 15:00 (MST) / 17:00 (EST) del 16 settembre 2024
- Le condizioni di conversione automatica si applicano se rimangono meno di 1.000.000 di azioni in una delle due serie
- La quotazione delle Azioni di Serie H sulla TSX è approvata condizionatamente
TransAlta (TSX: TA; NYSE: TAC) ha anunciado que no redimirá sus Acciones Preferenciales de la Serie G el 30 de septiembre de 2024. Como resultado, los accionistas tienen la opción de convertir sus Acciones de la Serie G en Acciones de la Serie H en una relación uno a uno. Las tasas de dividendo para ambas series se anunciarán el 3 de septiembre de 2024.
Puntos clave:
- Fecha de conversión: 30 de septiembre de 2024
- Acciones de la Serie G actualmente en circulación: 6,600,000
- Plazo de conversión: 3:00 p.m. (MST) / 5:00 p.m. (EST) del 16 de septiembre de 2024
- Se aplican condiciones de conversión automática si quedan menos de 1,000,000 de acciones en cualquiera de las series
- La cotización de las Acciones de la Serie H en la TSX está aprobada condicionalmente
TransAlta (TSX: TA; NYSE: TAC)는 2024년 9월 30일에 G 시리즈 우선주를 상환하지 않겠다고 발표했습니다. 그 결과, 주주들은 G 시리즈 주식을 H 시리즈 주식으로 1:1 비율로 전환할 옵션이 있습니다. 두 시리즈의 배당률은 2024년 9월 3일에 발표될 예정입니다.
주요 사항:
- 전환 날짜: 2024년 9월 30일
- 현재 미상장 G 시리즈 주식: 6,600,000주
- 전환 마감일: 2024년 9월 16일 3:00 p.m. (MST) / 5:00 p.m. (EST)
- 두 시리즈 중 1,000,000주 미만일 경우 자동 전환 조건이 적용됩니다
- H 시리즈 주식의 TSX 상장은 조건부로 승인되었습니다
TransAlta (TSX: TA; NYSE: TAC) a annoncé qu’elle ne rachèterait pas ses Actions Préférentielles de Série G le 30 septembre 2024. En conséquence, les actionnaires ont la possibilité de convertir leurs Actions de Série G en Actions de Série H sur une base un pour un. Les taux de dividende pour les deux séries seront annoncés le 3 septembre 2024.
Points clés :
- Date de conversion : 30 septembre 2024
- Actions de Série G actuellement en circulation : 6 600 000
- Date limite de conversion : 16 septembre 2024 à 15h00 (MST) / 17h00 (EST)
- Des conditions de conversion automatique s’appliquent si moins de 1 000 000 d’actions restent dans l’une des deux séries
- La cotation des Actions de Série H à la TSX est approuvée sous condition
TransAlta (TSX: TA; NYSE: TAC) hat bekannt gegeben, dass die Einlösung ihrer Serie-G-Vorzugsaktien am 30. September 2024 nicht erfolgen wird. Infolgedessen haben die Aktionäre die Möglichkeit, ihre Serie-G-Aktien eins zu eins in Serie-H-Aktien umzuwandeln. Die Dividendenraten für beide Serien werden am 3. September 2024 bekannt gegeben.
Wichtige Punkte:
- Umwandlungsdatum: 30. September 2024
- Aktuell ausstehende Serie-G-Aktien: 6.600.000
- Umwandlungsfrist: 16. September 2024, 15:00 Uhr (MST) / 17:00 Uhr (EST)
- Es gelten automatische Umwandlungsbedingungen, wenn weniger als 1.000.000 Aktien in einer der Serien verbleiben
- Die Listung der Serie-H-Aktien an der TSX ist bedingt genehmigt
Positive
- Option for shareholders to convert Series G Shares to Series H Shares
- Conditional approval for listing of Series H Shares on TSX
CALGARY, Alberta, Aug. 22, 2024 (GLOBE NEWSWIRE) — TransAlta Corporation (“TransAlta” or the “Company”) (TSX: TA; NYSE: TAC) announced today that it does not intend to exercise its right to redeem all or any part of the currently outstanding cumulative redeemable rate reset first preferred shares Series G (“Series G Shares”) (TSX: TA.PR.J) on September 30, 2024 (the “Conversion Date”).
As a result, the holders of the Series G Shares will have the right to convert all or any of their Series G Shares into cumulative redeemable floating rate first preferred shares Series H of the Company (“Series H Shares”) on the basis of one Series H Share for each Series G Share on the Conversion Date subject to the terms and conditions of the Series G Shares, including those described in the prospectus supplement dated August 8, 2014 relating to the issuance of the Series G Shares.
The dividend rate applicable to the Series G Shares for the 5-year period from and including September 30, 2024, to but excluding September 30, 2029, and the dividend rate applicable to the Series H Shares for the 3-month period from and including September 30, 2024, to but excluding December 31, 2024, will be determined and announced by the Company by way of a news release on September 3, 2024.
As provided in the terms of the Series G Shares, if TransAlta determines after reviewing all Series G Shares tendered for conversion into Series H Shares that: (i) there would remain outstanding on September 30, 2024, less than 1,000,000 Series G Shares, all remaining Series G Shares shall be converted automatically into Series H Shares on a one-for one basis effective September 30, 2024; or (ii) there would remain outstanding after September 30, 2024, less than 1,000,000 Series H Shares, the holders of Series G Shares shall not be entitled to convert their shares into Series H Shares effective September 30, 2024. There are currently 6,600,000 Series G Shares outstanding.
The Series G Shares are issued in “book entry only” form and must be purchased or transferred through a participant in the CDS depository service (“CDS Participant”). All rights of holders of Series G Shares must be exercised through CDS or the CDS Participant through which the Series G Shares are held. The deadline for the registered shareholder to provide notice of exercise of the right to convert Series G Shares into Series H Shares is 3:00 p.m. (MST) / 5:00 p.m. (EST) on September 16, 2024. Any notices received after this deadline will not be valid. As such, holders of Series G Shares who wish to exercise their right to convert their shares should contact their broker or other intermediary for more information and it is recommended that this be done well in advance of the deadline in order to provide the broker or other intermediary with time to complete the necessary steps.
If TransAlta does not receive an election notice from a holder of Series G Shares during the time fixed therefore, then the Series G Shares shall be deemed not to have been converted (except in the case of an automatic conversion). Holders of the Series G Shares and the Series H Shares will have the opportunity to convert their shares again on September 30, 2029, and every five years thereafter as long as the shares remain outstanding.
The Toronto Stock Exchange (TSX) has conditionally approved the listing of the Series H Shares effective upon conversion.
Listing of the Series H Shares is subject to TransAlta fulfilling all the listing requirements of the TSX.
About TransAlta Corporation:
TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. TransAlta provides municipalities, medium and large industries, businesses and utility customers with affordable, energy efficient and reliable power. Today, TransAlta is one of Canada’s largest producers of wind power and Alberta’s largest producer of hydro-electric power. For over 113 years, TransAlta has been a responsible operator and a proud member of the communities where we operate and where our employees work and live. TransAlta aligns its corporate goals with the UN Sustainable Development Goals and the Future-Fit Business Benchmark, which also defines sustainable goals for businesses. Our reporting on climate change management has been guided by the International Financial Reporting Standards (IFRS) S2 Climate-related Disclosures Standard and the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. TransAlta has achieved a 66 per cent reduction in GHG emissions or 21.3 million tonnes CO2e since 2015 and received an upgraded MSCI ESG rating of AA.
For more information about TransAlta, visit our web site at transalta.com.
Forward Looking Information
This news release contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as “may”, “will”, “should”, “estimate”, “intend” or other similar words). Specifically, this news release contains forward-looking information with respect to the Company, the Series G Shares and the Series H Shares, including but not limited to the listing of the Series H Shares and the determination of the dividend rate and payment of dividends on the Series G Shares and Series H Shares in the future. All forward- looking information reflects the Company’s beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release. TransAlta undertakes no obligation to update or revise any forward-looking information except as required by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from those in the forward-looking information, refer to the Company’s most recent Annual Information Form, Annual Report and Management’s Discussion and Analysis and the Prospectus Supplement dated August 8, 2014, in each case filed under the Company’s profile on SEDAR at www.sedarplus.com.
For more information:
| Investor Inquiries: | Media Inquiries: |
| Phone: 1-800-387-3598 in Canada and US | Phone: 1-855-255-9184 |
| Email: investor_relations@transalta.com | Email: ta_media_relations@transalta.com |
FAQ
What is the conversion date for TransAlta’s Series G Preferred Shares (TAC)?
The conversion date for TransAlta’s Series G Preferred Shares is September 30, 2024.
How many Series G Preferred Shares of TransAlta (TAC) are currently outstanding?
There are currently 6,600,000 Series G Preferred Shares of TransAlta outstanding.
What is the deadline for TransAlta (TAC) shareholders to convert Series G to Series H Shares?
The deadline for TransAlta shareholders to provide notice of conversion from Series G to Series H Shares is 3:00 p.m. (MST) / 5:00 p.m. (EST) on September 16, 2024.
When will TransAlta (TAC) announce the new dividend rates for Series G and H Shares?
TransAlta will announce the new dividend rates for Series G and H Shares on September 3, 2024.