Brookfield Renewable Partners L.P. (TSX: BEP.UN)(NYSE: BEP) ("Brookfield Renewable") today announced that the Toronto Stock Exchange (the "TSX") accepted a notice filed by Brookfield Renewable of its intention to renew its normal course issuer bid. Brookfield Renewable believes that in the event that its limited partnership units ("Units") trade in a price range that does not fully reflect their intrinsic value, the acquisition of Units may represent an attractive use of available funds.
Brookfield Renewable is authorized to repurchase up to 8.3 million Units, representing approximately 5% of the issued and outstanding Units. At the close of business on December 15, 2016, there were 166,752,453 Units issued and outstanding. Under the normal course issuer bid, Brookfield Renewable may purchase up to 53,839 Units on the TSX during any trading day, which represents 25% of the average daily trading volume of 215,357 Units on the TSX for the six months ended November 30, 2016, calculated in accordance with the rules of the TSX. Repurchases are authorized to commence on December 29, 2016 and will terminate on December 28, 2017, or earlier should Brookfield Renewable complete its repurchases prior to such date.
Under its current normal course issuer bid that commenced on December 29, 2015 and expires on December 28, 2016, Brookfield Renewable made no repurchases.
All purchases will be made through the facilities of the TSX, the NYSE and/or Canadian and
From time to time, when Brookfield Renewable does not possess material non-public information about itself or its securities, it may enter into automatic purchase plans with its broker to allow for the purchase of Units at times when Brookfield Renewable ordinarily would not be active in the market due to its own internal trading blackout periods and insider trading rules. Any such plans entered into with Brookfield Renewable's broker will be adopted in accordance with applicable Canadian and
Brookfield Renewable Partners
Brookfield Renewable Partners operates one of the world's largest publicly traded, pure-play renewable power platforms. Our portfolio consists of hydroelectric and wind facilities in
Brookfield Renewable is the flagship listed renewable power company of Brookfield Asset Management, a leading global alternative asset manager with approximately
Please note that Brookfield Renewable's previous audited annual and unaudited quarterly reports have been filed on SEDAR and EDGAR and can also be found in the investors section of its website at http://bep.brookfield.com. Hard copies of the annual and quarterly reports can be obtained free of charge upon request.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements and information within the meaning of Canadian provincial securities laws and "forward-looking statements" within the meaning of Section 27A of the
We caution that the foregoing list of important factors that may affect future results is not exhaustive. The forward-looking statements represent our views as of the date of this news release and should not be relied upon as representing our views as of any date subsequent to the date of this news release. While we anticipate that subsequent events and developments may cause our views to change, we disclaim any obligation to update the forward-looking statements, other than as required by applicable law. For further information on these known and unknown risks, please see "Risk Factors" included in our Form 20-F.
Contacts: Brookfield Renewable Partners L.P. Zev Korman Senior Vice President, Investor Relations (416) 359-1955 [email protected]
Source: Brookfield Renewable Partners L.P.
| Title | Document |
|---|---|
English |
|
Français |