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TransAlta Corporation Announces Conversion Results for Series C and D Preferred Shares
TransAlta Corporation Announces Conversion Results for Series C and D Preferred Shares ...
About this update from Transalta Corporation
[{"type":"text","content":"\n \n \n \n TransAlta Corporation Announces Conversion Results for Series C and D Preferred Shares\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n June 16, 2022\n \n \n /CNW/ - Further to TransAlta Corporation's (\"TransAlta\" or the \"Company\") (TSX: TA) (NYSE: TAC) press release dated\n \n May 31, 2022\n \n , the Company announced today that 1,044,299 of its 11,000,000 currently outstanding Cumulative Redeemable Rate Reset First Preferred Shares, Series C (\"Series C Shares\") were tendered for conversion, on a one-for-one basis, into Cumulative Redeemable Floating Rate First Preferred Shares, Series D (\"Series D Shares\") after having taken into account all election notices following the\n \n June 15, 2022\n \n conversion deadline.  As a result, on June 30, 2022, the Company will have 9,955,701 Series C Shares issued and outstanding and 1,044,299 Series D Shares issued and outstanding.\n \n \n The Series C Shares will continue to be listed on the Toronto Stock Exchange (TSX) under the symbol TA.PR.F. The Series D Shares will begin trading on the TSX on\n \n June 30, 2022\n \n under the symbol TA.PR.G, subject to the Company fulfilling all the listing requirements of the TSX. The Toronto Stock Exchange has conditionally approved the listing of the Series D Shares effective upon conversion.\n \n \n The Series C Shares will pay fixed cumulative preferential cash dividends on a quarterly basis, for the five-year period from and including\n \n June 30, 2022\n \n to but excluding\n \n June 30, 2027\n \n , if, as and when declared by the Board of Directors of TransAlta based on an annual fixed dividend rate of 5.85400%, being equal to the five-year Government of\n \n Canada\n \n bond yield of 2.75400% determined as of\n \n May 31, 2022\n \n , plus 3.10000%, in accordance with the terms of the Series C Shares.\n \n \n The Series D Shares will pay quarterly floating rate cumulative preferential cash dividends for the five-year period from and including\n \n June 30, 2022\n \n to...