Business
NOTICE TO SHAREHOLDERS OF LIGHT & POWER HOLDINGS LTD.
NOTICE TO SHAREHOLDERS OF LIGHT & POWER HOLDINGS LTD.
About this update from Emera Incorporated
[{"type":"text","content":"\n\n\n\n Dec. 20, 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\nHALIFAX, Dec. 20 /CNW/ - Emera Inc. ("Emera" - Toronto Stock Exchange\n listing "EMA") wishes to advise all shareholders of Light & Power\n Holdings Ltd. ("Light & Power Holdings" - Barbados Stock Exchange\n listing: "LPH") that the offer to purchase all issued and outstanding\n common shares in Light & Power Holdings at a cash price per share of\n BB$25.70 (twenty five Barbados dollars and seventy Barbados cents) has\n been approved by the Barbados Securities Commission and the Barbados\n Stock Exchange.\n\n\nThe offer will open on December 20, 2010 and close 35 days later on\n January 24, 2011. The Offer and Circular will be sent to all Light &\n Power Holdings shareholders not less than 28 days prior to the close of\n the Offer.\n\n\nAt the current U.S. dollar to Barbados dollar exchange rate, this offer\n is the same as the price Emera paid to Leucadia National Corporation\n when it acquired 38% of Light & Power Holdings in May 2010.\n\n\nLight & Power Holdings is the parent company of The Barbados Light &\n Power Company Limited ("BLPC").  BLPC is the sole electric utility\n operator on the island of Barbados, serving 120,000 customers. BLPC has\n three power generation stations consisting of 239 MW of installed\n capacity.\n\n\nAbout Emera\nEmera Inc. (EMA and EMA.PR.A -TSX) is an energy and services company\n with $5.8 billion Canadian dollars in asset...