OAK BROOK, IL, Oct. 17 /CNW/ - Primary Energy Recycling Corporation (TSX:
PRI.UN) (the "Company") announced today that a cash distribution of
Cdn$ 0.06667 per enhanced income security ("EIS") of the Company will be paid
on November 28, 2008 to holders of record on October 31, 2008.
Each EIS consists of one common share (a "Common Share") and a
subordinated note with par value of Cdn$ 2.50 which pays interest at a rate of
11.75% per annum (the "Subordinated Note"). The EISs trade on the Toronto
Stock Exchange under the symbol PRI.UN. The total distribution of Cdn$ 0.06667
per EIS reflects a cash distribution of Cdn$ 0.04219 per Common Share and an
interest payment of Cdn$ 0.02448 per Subordinated Note for the period from
October 1 to October 31, 2008.
The Company owns a majority interest in Primary Energy Recycling Holdings
LLC ("Primary Energy"). Primary Energy, headquartered in Oak Brook, Illinois,
indirectly owns and operates four recycled energy projects and a 50% interest
in a pulverized coal facility (collectively, the "Projects"). The Projects
have a combined electrical generating capacity of 283 megawatts and a combined
steam generating capacity of 1.8 MMlbs/hour. Primary Energy creates value for
its customers by capturing and recycling waste energy from industrial and
electric generation processes and converting it into reliable and economical
electricity and thermal energy for its customers' use. For more information,
please visit us at www.primaryenergyrecycling.com.
For further information:
For further information: V. Michael Alverson, Chief Financial Officer,
Primary Energy, (630) 371-0639, firstname.lastname@example.org