Romenergo Holdings Limited

September 15, 2014 11:17 ET

Romenergo Holdings Limited Acquires Units and Debentures of Transeastern Power Trust

TORONTO, ONTARIO--(Marketwired - Sept. 15, 2014) - On August 18, 2014, Romenergo Holdings Limited ("RHL") and its affiliate acquired ownership of an aggregate of 1,060,600 units ("Units") and an aggregate principal amount of $6,535,000 7.5% convertible unsecured subordinated debentures ("Debentures") of Transeastern Power Trust ("Transeastern") in an off-market transfer (the "Transaction"). The Units were acquired at a price of $1.00 per Unit and the Debentures were acquired at a price of $1,000 per Debenture. As a result of the Transaction, RHL and its affiliates own an aggregate of 1,071,304 Units, representing approximately 9.6% of the issued and outstanding Units, on a non-diluted basis, and $6,535,000 principal amount of Debentures, representing approximately 55.6% of the issued and outstanding Debentures. Assuming the conversion of the $6,535,000 principal amount of Debentures at a price of $1.25 per Unit, RHL and its affiliates would own an aggregate of 6,299,304 Units, representing approximately 38.5% of the Units.

The Units and Debentures were acquired for investment purposes and RHL and/or one or more of its affiliates may, depending on market and other conditions, increase or decrease its beneficial ownership of Units, Debentures or other securities of Transeastern, whether in the open market, by privately negotiated agreement or otherwise and may also change the registered holder of the securities.

RHL is located at Nicosia, Strovolos, Str. Alkistidos no. 17, Cyprus. A copy of the report relating to this acquisition can be obtained from Katerina Simou at +357 22 749000 or on Transeastern's SEDAR profile at www.sedar.com.

The filing of this report is not an admission that an entity named in the report owns or controls any described securities or is a joint actor with another named entity.

Contact Information

  • Katerina Simou
    +357 22 749000