TransAlta comments on Mangrove Partners release, urges holders to vote BLUE card
TransAlta commented on the latest news release from Mangrove Partners. "Mangrove's latest claim is without merit and is simply the latest complaint in a string of frivolous tactics. We will defend TransAlta and the interests of our shareholders vigorously," said Ambassador Gordon Giffin, Chair of the board of TransAlta. "A majority of our shareholders have already voted overwhelmingly in support of the board at our upcoming Meeting. We look forward to moving ahead with our value creation plan supported by our partnership with Brookfield." As previously disclosed, TransAlta secured a strategic partnership and $750M financing with Brookfield Renewable which will enable TransAlta to advance its strategy. TransAlta's strategy is focused on converting coal units to gas, investing in renewables and accelerating returns to shareholders. TransAlta's 2019 annual and special meeting will take place on April 26 in Calgary, Alberta. TransAlta asks those shareholders that have not already voted to read the company's management proxy circular dated March 26 carefully and to vote the BLUE proxy FOR all 12 TransAlta director nominees at the upcoming annual and special shareholders' meeting on April 26. "Shareholder support is critical as we work to build a foundation for long-term, sustainable value creation as a leading clean energy company."