RESOLUTION PROPOSING THE ADOPTION OF A NEW ADVANCE NOTICE BY-LAW
LONGUEUIL, QC, April 15, 2013 /CNW Telbec/ - Innergex Renewable Energy Inc. (TSX: INE) invites its shareholders, as well as analysts, brokers, investors, and the media to attend its annual meeting of shareholders:
|Date and time:|| Tuesday May 14, 2013
4:00 p.m. EDT
|Location:|| Hyatt Regency Montreal Hotel
Montreal (Québec) H5B 1E5
|Webcast:|| http://cnw.ca/UMYy7 or from the Corporation's website.
A replay of the webcast and a copy of the slide presentation will be available on the Corporation's website after the event.
A review of activities in 2012 and prospects for 2013 will be presented. The Corporation will also present its results for the first quarter ended March 31, 2013, which will have been released earlier that day.
Items submitted for shareholder approval will include a resolution to amend the Corporation's General By-Laws by the addition of a new Advance Notice By-law. Among other things, the Advance Notice By-Law sets a deadline by which shareholders must submit a notice of director nominations to the Corporation prior to any annual or special meeting of shareholders where directors are to be elected and, furthermore, sets forth the information that a shareholder must include in the notice for it to be valid.
This Advance Notice By-Law will allow the Corporation to receive adequate prior notice of director nominations as well as sufficient information on the nominees, and the Corporation will consequently be able to evaluate the proposed nominees' qualifications to act as directors. No person will be eligible for election as a director of the Corporation unless nominated in accordance with the provisions of the Advance Notice By-Law. In the case of an annual meeting of shareholders, notice must be made not less than 30 and not more than 65 days prior to the date of the annual meeting of shareholders. In the case of a special meeting of shareholders (which is not also an annual meeting) called for the purpose of electing directors, notice must be made not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting of shareholders was made.
The Advance Notice By-Law is not currently effective and will only become effective upon approval by shareholders. The full text of the Advance Notice By-Law is available in the Notice of Annual and Special Meeting of Shareholders and Management Information Circular - Solicitation of Proxies, which is available on Innergex's website at www.innergex.com, and on SEDAR's website at www.sedar.com.
First Quarter 2013 Results Conference Call
Innergex will host a conference call to discuss the Corporation's financial results for the first quarter ended March 31, 2013:
|Date and time:|| Wednesday May 15, 2013
10:00 a.m. EDT
| Phone-in numbers:
|| 1 888 231-8191
or 647 427-7450
The results will be presented by Mr. Michel Letellier, President and Chief Executive Officer, and Mr. Jean Trudel, Chief Investment Officer and Senior Vice President - Communications. A replay of the conference call will be available on the Innergex website at www.innergex.com later that same day. The press release, the financial statements, and the management's discussion and analysis for the first quarter will be available in the Investors section of the Corporation's website as of May 14, 2013, when the first quarter results are released.
About Innergex Renewable Energy Inc.
Innergex Renewable Energy Inc. (TSX: INE) is a leading Canadian independent renewable power producer. Active since 1990, the Corporation develops, owns, and operates run-of-river hydroelectric facilities, wind farms, and solar photovoltaic farms and carries out its operations in Quebec, Ontario, British Columbia, and Idaho, USA. Its portfolio of assets currently consists of: (i) interests in 28 operating facilities with an aggregate net installed capacity of 577 MW (gross 1,031 MW), including 22 hydroelectric operating facilities, five wind farms, and one solar photovoltaic farm; (ii) interests in seven projects under development or under construction with an aggregate net installed capacity of 190 MW (gross 263 MW), for which power purchase agreements have been secured; and (iii) prospective projects with an aggregate net capacity totaling 2,900 MW (gross 3,125 MW). Innergex Renewable Energy Inc. is rated BBB- by S&P and BB (high) by DBRS.
The Corporation's strategy for building shareholder value is to develop or acquire high-quality facilities generating sustainable cash flows and providing a high return on invested capital, and to distribute a stable dividend.
SOURCE: INNERGEX RENEWABLE ENERGY INC.
For further information:
Marie-Josée Privyk, CFA, SIPC
Director - Investor Relations
450 928-2550, ext. 222