TransAlta: Too few series C preferreds tendered to effect conversion

By Wendy Van Sickle

Columbus, Ohio, June 16 – TransAlta Corp. said 827,628 of its cumulative redeemable rate-reset first preferred shares, series C, were tendered for conversion, which was less than the 1 million shares required to give effect to conversions into series D shares.

The deadline for holders to select conversion was 5 p.m. ET on June 15.

Because the minimum threshold was not met, none of the series C shares will be converted into series D shares on June 30, according to a press release.

TransAlta is a power generation and wholesale marketing company based in Calgary, Alta.

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