Business
Brookfield Renewable Power Fund Defers Conversion to Corporation
Brookfield Renewable Power Fund Defers Conversion to Corporation
About this update from Brookfield Renewable Partners Lp
[{"type":"text","content":"\n\n\n\n Oct. 21, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nGATINEAU, QC, Oct. 21 /CNW Telbec/ - (BRC.UN) - The Board of Trustees of Brookfield Renewable Power Fund (the "Fund"), have decided to defer the Fund's conversion to a corporation as the\n Board believes it is in the best interests of the Fund and its\n unitholders to further consider the optimal structure of the conversion\n and to analyze other emerging alternatives available to the Fund. The\n Fund had previously provided details regarding its plan to convert from\n an income trust to a corporation in light of the tax changes to income\n trusts that become applicable on January 1, 2011. The conversion was\n expected to become effective on November 30, 2010.\n\n\nIn making its decision, the Fund considered that it will not be taxable\n in 2011 and therefore cash available for distributions will be\n unaffected by the decision to defer the conversion; that the ability of\n the Fund to issue equity as required for growth opportunities would be\n similarly unaffected; and that the conversion rules afforded to SIFT\n entities will continue to be available to the Fund in 2011.\n\n\nThe Fund expects to provide clarity on its future plans by early 2011,\n with the goal of recommending a structure that will best support its\n future growth while providing all the benefits of conversion previously\n outlined.\n\n\nAs previously indicated, the Fund intends to continue to pay monthly\n distributions at the curre...