Business & Finance
Business and Finance
Business and Finance
Thu, June 30, 2011 Capital Power Income L.P. announces termination of its Premium Distribution and Distribution Reinvestment Plans
EDMONTON, June 30, 2011 /CNW/ - Capital Power Income L.P. (TSX: CPA.UN) (the Partnership) announced today the termination of its Premium Distribution™ and Distribution Reinvestment Plan (the "Plans"), effective June 30, 2011. The Plans, which have been operating since October 2009, provided unitholders with an option to accumulate additional units in a convenient and cost-effective manner, or receive an optional cash premium.
As previously announced on June 20, 2011, the Partnership and Atlantic Power Corporation (Atlantic Power) jointly announced that they have entered into an arrangement agreement to which Atlantic Power would acquire, directly and indirectly, all of the outstanding limited partnership units of the Partnership for Cdn$19.40 per limited partnership unit, payable in cash or shares of Atlantic Power (the "Transaction").
The Partnership intends to continue paying its monthly distribution, equal to $1.76 per limited partnership unit on an annual basis, through the month preceding the month of closing of the Transaction with Atlantic Power.
About Capital Power Income L.P.
Established in 1997, Capital Power Income L.P. is a limited partnership organized under the laws of the Province of Ontario. The Partnership's portfolio includes 19 wholly-owned power generation assets located in Canada and the United States and a 50.15 per cent interest in a power generation asset in Washington State. The Partnership's assets have a total net generating capacity of 1,400 megawatts and more than four million pounds per hour of thermal energy. For more information on the Partnership, please visit: [ www.capitalpowerincome.ca ]
™ Denotes trademark of Canaccord Genuity Corporation
