Capital Power Income L.P. and CPI Preferred Equity Ltd. Announce Name Changes
BOSTON, Feb. 1, 2012 /PRNewswire/ — Capital Power Income L.P. (the Partnership) and CPI Preferred Equity Ltd. (TSX: CZP.PR.A and CZP.PR.B) (the Corporation), subsidiaries of Atlantic Power Corporation (Atlantic Power), announced that the Partnership has changed its name to “Atlantic Power Limited Partnership” and the Corporation has changed its name to “Atlantic Power Preferred Equity Ltd.”.
In connection with the Corporation’s name change, the Cumulative Redeemable Preferred Shares, Series 1 of the Corporation and the Cumulative Rate Reset Preferred Shares, Series 2 of the Corporation (which prior to the name change traded on the Toronto Stock Exchange under the symbols “CZP.PR.A” and “CZP.PR.B”, respectively), will begin trading on the Toronto Stock Exchange under the symbols “AZP.PR.A” and “AZP.PR.B”, respectively. It is expected that the preferred shares of the Corporation will begin trading on the Toronto Stock Exchange under the new symbols at the opening of business on or about February 7, 2012.
The name changes were made in connection with the acquisition of the Partnership by Atlantic Power completed on November 5, 2011.
About Atlantic Power Corporation
Atlantic Power is a leading publicly traded, power generation and infrastructure company with a well diversified portfolio of assets in the United States and Canada. Our power generation projects sell electricity to utilities and other large commercial customers under long-term power purchase agreements, which seek to minimize exposure to changes in commodity prices. The net generating capacity of Atlantic Power’s projects is approximately 2,140 MW, consisting of interests in 31 operational power generation projects across 11 states and 2 provinces, one 53 MW biomass project under construction in Georgia, and an 84-mile, 500 kilovolt electric transmission line located in California. Atlantic Power also owns a majority interest in Rollcast Energy, a biomass power plant developer with several projects under development. Atlantic Power is incorporated in British Columbia, headquartered in Boston and has offices in Chicago, Toronto, and Richmond, B.C.
Our corporate strategy is to generate stable, contracted cash flows from our existing assets to sustain our dividend payout to shareholders while increasing the value of the company through accretive acquisitions in North American markets. Our dividend is currently paid monthly at an annual rate of Cdn$1.15 per share.
Atlantic Power has a market capitalization of approximately $1.5 billion and trades on the New York Stock Exchange under the symbol AT and on the Toronto Stock Exchange under the symbol ATP.
Copies of financial data and other publicly filed documents are filed on SEDAR at www.sedar.com or on EDGAR at www.sec.gov/edgar.shtml under “Atlantic Power Corporation” or on Atlantic Power’s website.
About Atlantic Power Limited Partnership
Established in 1997, the Partnership’s portfolio consists of 17 whollyowned power generation assets located in both Canada (in the provinces of British Columbia and Ontario) and the United States (in the states of California, Colorado, Illinois, New Jersey and New York), a 50.15% interest in a power generation asset in Washington State, and a 14.3% common equity interest in Primary Energy Recycling Holdings LLC.
About Atlantic Power Preferred Equity Ltd.
The Corporation was incorporated under the laws of the Province of Alberta on June 26, 1998 and is a whollyowned subsidiary of the Partnership. The Corporation operates as a holding company and indirectly holds all of the Partnership’s business and power generation and other assets in the United States and British Columbia.
For more information, please visit Atlantic Power’s website at www.atlanticpower.com or contact:
Atlantic Power Corporation
Amanda Wagemaker, Investor Relations
Cautionary Note Regarding Forward-looking Statements
To the extent any statements made in this news release contain information that is not historical, these statements are forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended and under Canadian securities law (collectively, “forward-looking statements”). Certain statements in this news release may constitute “forward-looking statements”, which reflect the expectations of management regarding, among other things, the date on which the preferred shares of the Corporation will begin trading on the Toronto Stock Exchange under the new symbols. These statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of the words “may,” “will,” “project,” “continue,” “believe,” “intend,” “anticipate,” “expect” or similar expressions that are predictions of or indicate future events or trends and which do not relate solely to present or historical matters. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not or the times at or by which such performance or results will be achieved. Although the forward-looking statements contained in this news release are based upon what are believed to be reasonable assumptions, investors cannot be assured that actual results will be consistent with these forward-looking statements, and the differences may be material. Important factors that could cause actual results to differ materially from these expectations include, among other things, any failure to provide documentation required in connection with the name changes to the Toronto Stock Exchange in a timely manner, the receipt of additional document requests by the Toronto Stock Exchange in connection with the name changes and the other risk factors relating to us and the power industry, as detailed from time to time in our filings with the United States Securities and Exchange Commission (“SEC”) and/or Canadian securities regulators and authorities, and other risk and uncertainties affecting Atlantic Power, as detailed from time to time in Atlantic Power’s filings with the SEC and/or Canadian securities regulators and authorities (including, without limitation, the factors discussed under “Risk Factors” in Atlantic Power’s periodic reports from time to time and in the management proxy circular and joint proxy statement of Atlantic Power and the Partnership dated September 28, 2011), and the Partnership’s filings on the SEDAR website at www.sedar.com). These forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, Atlantic Power assumes no obligation to update or revise them to reflect new events or circumstances.
SOURCE Atlantic Power Corporation, Capital Power Income L.P. and CPI Preferred Equity Ltd.