RG Renovatio Group Limited

August 02, 2017 21:20 ET

RG Renovatio Group Limited Acquires Debentures of Transeastern Power Trust

TORONTO, ONTARIO--(Marketwired - Aug. 2, 2017) - On July 28, 2017, RG Renovatio Group Limited ("Renovatio") acquired ownership of $9,822,000 principal amount of 7.5% unsecured convertible debentures ("Debentures") of Transeastern Power Trust ("Transeastern") through a treasury offering (the "Transaction"). The Debentures were acquired in satisfaction of $7,857,321 of indebtedness owed by Transeastern to Renovatio in connection with the net purchase price of assets previously acquired by Transeastern from Renovatio. As a result of the Transaction, Renovatio owns an aggregate of 22,392,240 trust units in the capital of Transeastern ("Units") and $11,893,000 principal amount of Debentures, convertible into 9,514,400 Units, representing approximately 54.50% of the issued and outstanding Units on a partially-diluted basis. Immediately prior to the transaction described herein, Renovatio owned 22,392,240 Trust Units and $2,071,000 principal amount of Debentures, convertible into 1,656,800 Trust Units, representing approximately 47.45% of the issued and outstanding Trust Units of the issuer on a partially-diluted basis. The acquisition represents a change in Renovatio's holdings of Trust Units of approximately 7.05% on a partially-diluted basis.

Renovatio may increase or decrease its investment, directly or indirectly, in securities of Transeastern from time to time, depending on market conditions or any other relevant factors.

Transeastern is located at 181 Bay Street, Suite 1800, Toronto, Ontario M5J 2T9. Renovatio is located at Nicosia, Themistokli, Dervi 3 1066, Cyprus. A copy of the early warning report to which this news release relates can be obtained on the SEDAR profile of Transeastern at www.sedar.com.

Contact Information

  • RG Renovatio Group Limited
    Aurel Arion
    +4 031 805 36 36