ST. JOHN’S, Newfoundland and Labrador–(BUSINESS WIRE)–Nov 19, 2024–
Altius Renewable Royalties Corp. (TSX: ARR) (OTCQX: ATRWF) (“ARR” or the “Company”), is pleased to announce that the shareholders of the Company (the “Shareholders”) have approved the special resolution (the “ Arrangement Resolution ”) with Royal Aggregator LP (the “ Purchaser ”) (an affiliate of Northampton Capital Partners, LLC (“ NCPL ” and together with its controlled affiliates, “ Northampton ”)) at the special meeting of Shareholders held on November 19, 2024 (the “Meeting”).
A total of 27,132,254 shares were voted in favour, representing 94.26% of the votes cast by Shareholders present or represented by proxy; and 8,762,760 shares representing 84.14% of the votes cast by Shareholders present or represented by proxy at the Meeting, excluding votes cast by Insiders, as detailed below. ARR thanks its shareholders for the record high voting participation rate.
RESOLUTION |
FOR |
WITHHELD/AGAINST |
RESULT |
|
Arrangement Resolution |
27,132,2541 |
1,651,197 |
94.26% Approved |
|
Arrangement Resolution (Majority of Minority) |
8,762,7602 |
1,651,197 |
84.14% Approved |
Earl Ludlow, Chair of ARR commented, “We first and foremost wish to express our appreciation to shareholders for the exceptionally high percentage of shares, at 93%, that were voted in consideration of the proposed transaction. Of these, more than 94% of total votes and more than 84% of minority shareholder votes were cast in favour of proceeding to close the transaction. This result is clear in the direction it provides to the Special Committee and the Board and we will now work to fulfill this mandate expeditiously on behalf of all of our shareholders.”
Subject to receipt of the final order of the Court of King’s Bench of Alberta, the transaction is expected to close on or around the end of November, 2024. Following the completion of the Arrangement, the company expects to be delisted from the TSX and to cease being a reporting issuer in all provinces and territories of Canada.
About ARR
ARR is a renewable energy royalty company whose business is to provide long-term, royalty level investment capital to renewable power developers, operators, and originators. ARR has 35 renewable energy royalties representing approximately 2.4 GW of renewable power on operating projects and an additional approximate 5.8 GW on projects in construction and development phase, across several regional power pools in the U.S. The Corporation also expects future royalties from GBR’s investments in Bluestar Energy Capital, Hodson Energy and Hexagon Energy, which increase the total development project pipeline to approximately 18.6 GW. The Corporation combines industry expertise with innovative, partner-focused solutions to further the growth of the renewable energy sector as it fulfills its critical role in enabling the global energy transition.
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|
1 Including 18,369,494 common shares held by Insiders |
|
2 Excluding 18,369,494 common shares held by Insiders |
View source version on businesswire.com:https://www.businesswire.com/news/home/20241119270334/en/
CONTACT: Flora Wood
Email:[email protected]
Tel: 1.877.576.2209
Direct: 1.416.346.9020Ben Lewis
Email:[email protected]
Tel: 1.877.576.2209
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: ALTERNATIVE ENERGY ENERGY
SOURCE: Altius Renewable Royalties Corp.
Copyright Business Wire 2024.
PUB: 11/19/2024 04:57 PM/DISC: 11/19/2024 04:55 PM
http://www.businesswire.com/news/home/20241119270334/en