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Bullboard - Stock Discussion Forum Alterra Power MGMXD

Alterra Power Corp is a renewable energy company. It is primarily focused on development, construction, and operation of renewable power projects. The company's business has four major segments - Construction and Development, Geothermal, Hydro, Wind, and Solar.

OTCPK:MGMXD - Post Discussion

Alterra Power > Tendering our Shares
View:
Post by R_J_ on Nov 10, 2017 9:25pm

Tendering our Shares

Marin Katusa sent the following alert to his subscribers.
Quote:
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A quick note on Alterra.
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I have received numerous emails asking for additional help with the Alterra transaction and how to go about tendering shares.
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The transaction is not going to close until early January 2018.
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In the meantime, Alterra will be mailing out forms called a proxy.
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There isn’t much work to do on your end.
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You will just need to tick a few boxes indicating whether you are voting in favor of the transaction (I am, so is Alterra’s chairman Ross Beaty).
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Additionally, you will have to indicate whether you want to receive stock in Innergex Renewable Energy (the company acquiring Alterra) and the cash or just Innergex stock.
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This is a very simple process.
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Once the forms are mailed out, your full-service broker can help you or if you have any questions.
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Our customer service desk is happy to assist anyone who is struggling or has additional questions.
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For those of you that use a full-service broker, all you will have to do is tell your broker (this is a benefit of a full-service broker).
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For those using a discount or online broker, you’ll have to fill out the proxy forms and send them back to Alterra.

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End Quote.
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RJ
Comment by 4PCneanderthal on Nov 12, 2017 1:36am
One could self tender AXY shares now and might actually acquire more shares of INE rather than wait for the close of the transaction.  The share tender ratio of 0.5563 which is simply $8.25AXY/$14.83INE as stated in the transaction agreement.  Nov 10 closing prices were $7.62AXY and $13.52INE.  The current ratio is then 7.62/13.52 = 0.5636 which is greater than the transaction ...more  
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