CALGARY, April 1, 2019 /CNW/ - TransAlta Corporation
("TransAlta" or the "Company") (TSX:TA) (NYSE:TAC) today
posted an updated investor presentation (the "Presentation") to its
website at
https://transalta.com/investor-centre/events-and-presentations/. A
copy of the Presentation is also being filed on the Company's SEDAR
profile at www.sedar.com and the Company's EDGAR
profile at www.sec.gov/edgar.shtml.
In the Presentation, TransAlta provides further background on
the Company's:
- Significant progress executing its plan to 100% clean energy by
2025
- Extensive shareholder engagement and long-standing relationship
with Brookfield
- Highly competitive financing and value for TransAlta's Hydro
assets offered by the Brookfield Investment
- Exceptional board nominees that bring complementary skills and
experience and strong governance track record.
TransAlta's presentation also cautions shareholders that the
five dissident nominees put forward by Mangrove and Bluescape have
limited public company and executive experience and do not measure
up to the calibre of TransAlta's board nominees.
Vote the BLUE Proxy to Protect TransAlta's Future
TransAlta asks shareholders to read the Circular carefully and
to vote the BLUE proxy FOR all 12 TransAlta director nominees at
our upcoming Meeting on April 26,
2019. Shareholder support is critical as we work to build a
foundation for long-term, sustainable value creation as a leading
clean energy company.
A vote FOR TransAlta's director nominees will be a vote to
realize the value of TransAlta's diverse and quality assets for
decades to come, a vote for an experienced and engaged Board and a
vote to share in the upside of TransAlta. Becoming a voter is
fast and easy. To support TransAlta's Board, vote only your
BLUE proxy or voting instruction form today.
If you have any questions about the Meeting, please contact
Kingsdale Advisors, TransAlta's strategic shareholder advisor and
proxy solicitation agent, by telephone at 1-877-659-1820 (toll-free
in North America) or
1-416-867-2272 (collect outside North
America) or by email
at contactus@kingsdaleadvisors.com.
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. We provide municipalities, medium and large
industries, businesses and utility customers clean, affordable,
energy efficient, and reliable power. Today, we are one of
Canada's largest producers of wind
power and Alberta's largest
producer of hydro-electric power. For over 100 years, TransAlta has
been a responsible operator and a proud community-member where its
employees work and live. TransAlta aligns its corporate goals with
the UN Sustainable Development Goals and we have been recognized by
CDP (formerly Climate Disclosure Project) as an industry leader on
Climate Change Management. We are also proud to have achieved the
Silver level PAR (Progressive Aboriginal Relations) designation by
the Canadian Council for Aboriginal Business.
For more information about TransAlta, visit our web site at
transalta.com.
Forward-Looking Statements
This news release
contains forward-looking statements and forward-looking information
within the meaning of applicable securities laws. The use of any of
the words "expect", "anticipate", "continue", "estimate", "may",
"will", "project", "should", "propose", "plans", "intends" and
similar expressions are intended to identify forward-looking
information or statements. More particularly, and without
limitation, this news release contains forward-looking statements
and information relating to: the Meeting; the investment by
Brookfield; ability of the
investment to enhance the Company's financial position and ability
to execute the strategy; the transition to 100% clean energy by
2025; Brookfield increasing its
share ownership in TransAlta to 9% and other commitments;
the Company's future ownership levels in or control over the
Alberta hydro assets; the
anticipated timing, costs and benefits of TransAlta's coal-to-gas
conversion strategy; the timing, terms and probability of returning
capital to shareholders; the appointment of three new nominees to
the Board; the expected higher cash flow and anticipated adjusted
EBITDA in respect of the hydro assets in the Brookfield investment; the Company's
relationship with Brookfield Renewable Partners or its affiliates
and other shareholders; the expected timing, costs and benefits of
the strategic investment by and partnership with Brookfield
Renewable or its affiliates; the formation of a joint
operating committee; continued operational improvements; and
advancements in the Company's strategy relating to clean energy and
growth. These statements are based on TransAlta's belief and
assumptions based on information available at the time the
assumptions were made, including assumptions pertaining to: the
election of the Company's proposed director nominees at the
Meeting, the closing of the Brookfield investment; no significant changes
to regulatory, securities, credit or market environments;
the anticipated Alberta
capacity market framework in the future; our ownership of or
relationship with TransAlta Renewables Inc. not materially
changing; the Alberta hydro assets
achieving their anticipated value, cash flows and adjusted EBITDA;
the expected life extension of the coal fleet and anticipated
benefits and financial results generated on the coal-to-gas
conversion and the Company's other strategies; the Company's and
Mangrove's/Bluescape's strategies and plans; the ability to
successfully compete in the expected Alberta capacity market; and no significant
changes in laws. The forward-looking statements are
subject to a number of risks and uncertainties that may cause
actual performance, events or results to differ materially from
those contemplated by the forward-looking statements. Some of the
factors that could cause such differences include: the failure of
the Company's nominees to be elected at the Meeting; the failure of
the Brookfield investment to
close; legal actions or proceedings, including those pertaining to
the Brookfield investment; the
appointment of any slate of directors proposed by
Mangrove/Bluescape and the subsequent termination of the
Brookfield investment by the
Company; our Alberta hydro assets
not achieving their anticipated value, cash flows or adjusted
EBITDA once the applicable power purchase arrangement has expired;
changes to the expected life extension of our coal fleet and
anticipated financial results generated on conversion; and other
risks and uncertainties contained in the Company's Circular dated
March 26, 2019 and its annual
information form and management's discussion and analysis for the
year ended December 31, 2018. Readers
are cautioned not to place undue reliance on these forward-looking
statements or forward-looking information, which reflect
TransAlta's expectations only as of the date of this news release.
In light of these risks, uncertainties and assumptions, the
forward-looking statements might occur to a different extent or at
a different time than we have described, or might not occur at all.
TransAlta disclaims any intention or obligation to update or revise
these forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law. Certain financial information contained in this
news release, including adjusted EBITDA in respect of the
Brookfield investment, may not be
standard measures defined under International Financial Reporting
Standards ("IFRS") and may not be comparable to similar measures
presented by other entities. These measures should not be
considered in isolation or as a substitute for measures prepared in
accordance with IFRS. For further information on the calculation of
adjusted EBITDA in respect of the Brookfield investment and how it is calculated
with regard to the exchangeable securities to be issued, see the
Company's material change report dated March
26, 2019 and a complete copy of the investment agreement
with Brookfield, filed under the
Company's profile with the Canadian securities regulators on
www.sedar.com and the Securities and Exchange Commission on
www.sec.gov.
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SOURCE TransAlta Corporation