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Alterra Power Announces Receipt of Interim Court Order
Nov. 17, 2017 08:19AM PST
Cleantech Investing
Alterra Power (TSX:AXY) has announced it has been granted an interim order from the BC Supreme Court authorizing the company to hold a special meeting for its shareholders to consider the proposed plan where Innergex Renewable Energy will acquire the issued and outstanding shares of Alterra. As quoted in the press release: The special meeting …
Alterra Power (TSX:AXY) has announced it has been granted an interim order from the BC Supreme Court authorizing the company to hold a special meeting for its shareholders to consider the proposed plan where Innergex Renewable Energy will acquire the issued and outstanding shares of Alterra.
As quoted in the press release:
The special meeting of Alterra shareholders to consider the Arrangement will be held on Thursday, December 14, 2017 at 2:00 p.m. (Vancouver time) in the Cristal Room of the Metropolitan Hotel, 645 Howe Street, Vancouver, British Columbia, V6C 2Y9. Shareholders of record as of the close of business on November 7, 2017 will be eligible to vote at the special meeting. The Arrangement is subject to approval of at least two thirds of Alterra’s common shares represented in person or by proxy at the special meeting.
Alterra has prepared a management information circular with respect to the Arrangement which is being mailed today to shareholders of record. The information circular is also available on SEDAR (www.sedar.com) and the Alterra website (www.alterrapower.ca).
Alterra’s board of directors, having received a unanimous recommendation from a special committee comprised solely of independent Alterra directors, has unanimously determined that the Arrangement is in the best interests of Alterra and that the consideration to be received by Alterra’s shareholders pursuant to the Arrangement is fair. The board unanimously recommends that shareholders vote for the Arrangement.
