Capital Power announces conversion results for its Preferred Shares (Series 1)
EDMONTON, Alberta – Capital Power Corporation (TSX:CPX) (the Corporation and together with its subsidiaries, Capital Power) announced today that after having taken into account all Election Notices following the December 16, 2015 conversion deadline, in respect of the Cumulative Rate Reset Preference Shares, Series 1 (Series 1 Shares) tendered for conversion into Cumulative Floating Rate Preference Shares, Series 2 (Series 2 Shares), the holders of Series 1 Shares were not entitled to convert their shares. There were approximately 930,800 Series 1 Shares tendered for conversion, which was less than the one million shares required for conversion into Series 2 Shares.
There are five million Series 1 Shares listed on the Toronto Stock Exchange (TSX) under the symbol CPX.PR.A. Effective December 31, 2015, the annual fixed dividend rate for the next five year period has been reset to 3.06%.
For more information on the terms and risks associated with an investment in the Series 1 Shares, please see Capital Power’s prospectus supplement dated December 1, 2010 which is available on sedar.com or on Capital Power’s website at capitalpower.com.
About Capital Power
Capital Power (TSX: CPX) is a growth-oriented North American power producer headquartered in Edmonton, Alberta. The company develops, acquires, operates and optimizes power generation from a variety of energy sources. Capital Power owns more than 3,200 megawatts of power generation capacity at 17 facilities across North America and owns 371 megawatts of capacity through a power purchase agreement. An additional 545 megawatts of owned generation capacity is under construction or in advanced development in Alberta and North Carolina.