MONTREAL, Nov. 14, 2013 /CNW Telbec/ - Boralex Inc. ("Boralex" or the
"Corporation") announces that the Toronto Stock Exchange accepted its
notice of intention to begin a normal course issuer bid in respect of
its Class A Shares. Purchases pursuant to the normal course issuer bid
will commence on November 18, 2013 and will not continue beyond
November 17, 2014. The Class A Shares purchased shall be cancelled.
The notice will enable Boralex to acquire up to 250,000 Class A Shares
which represent approximately 0.66% of the 37,750,791 issued and
outstanding Class A Shares as of October 31, 2013. During the last 12
months, no Class A Share was purchased by Boralex under a normal course
The average daily trading volume of Boralex's Class A Shares was 19,741
on the Toronto Stock Exchange over the last six completed calendar
months (the "ADTV"). Accordingly, Boralex is entitled to purchase up
to 25% of the ADTV on any trading day being 4,935 Class A Shares. All
purchases will be made through the facilities of the Toronto Stock
Exchange in accordance with its requirements.
Boralex considers that the Issuer Bid will provide the flexibility to
purchase shares to offset the dilutive effects of the issuance of Class
A Shares pursuant to the stock option plan. Boralex also considers that
the shares to be acquired may, from time to time, be undervalued in the
market and represent an excellent opportunity to enhance shareholder
Boralex is a power producer whose core business is dedicated to the
development and the operation of renewable energy power stations.
Currently, the Corporation operates an asset base with an installed
capacity of almost 500 MW in Canada, the Northeastern United States and
France. Boralex is also committed under power development projects,
both independently and with Canadian and European partners, to add
approximately 550 MW of power that will be put in service by the end of
2015. With more than 200 employees, Boralex is known for its
diversified expertise and in-depth experience in four power generation
types — wind, hydroelectric, thermal and solar. Boralex's shares and
convertible debentures are listed on the Toronto Stock Exchange under
the ticker symbols BLX and BLX.DB, respectively. More information is
available at www.boralex.com or www.sedar.com.
SOURCE: Boralex Inc.
For further information:
Director, Public Affairs and Communications
Director, Investor Relations