Transeastern Power Trust Announces Results of Annual Unitholder Meeting
June 24, 2015
Toronto, Ontario — June 24, 2015 - Transeastern Power Trust ("Transeastem" or the "Trust") (TSXV: TEP.UN) is pleased to announce the results of the Trust's annual meeting of unitholders held today in Toronto, Canada.
Unitholders voted in favour of all items of business tabled for approval at the meeting, including the election of the proposed directors, being returning directors Ravi Sood, Joel Strickland, J. Colter Eadie and John Huxley, and new appointee Amar Bhalla.
Mr. Bhalla is the President of Capit Investment Corp., an investment management firm focused on private equity and venture capital. Mr. Bhalla has a B.A and a C.F.A. designation. The Trust welcomes Mr. Bhalla's investment and capital markets expertise to the board of directors.
The Trust would also like to take this opportunity to thank Mr. Petra Lificiu for his service to the Trust over the last year. Chief Executive Officer J, Colter Eadie stated, "Petru has provided us with invaluable support in navigating the regulations of Romania in our early days and we look forward to continuing to rely on him as a resource for Transeastern."
For further information please contact:
|Ravi Sood||J. Colter Eadie||Mike Murphy|
|Chairman||Chief Executive Officer||Chief Financial Officer|
|+1 (647) 987-7663||+40 736 372 724||+1 (416) 625-5064|
|[email protected]||[email protected]||[email protected]|
The Trust, through its direct and indirect subsidiaries in Canada, the Netherlands and Romania, has been formed to acquire interests in renewable energy assets in Romania, other countries in Europe and abroad that can provide stable cash flow to the Trust and a suitable risk-adjusted return on investment_ The Trust seeks to provide investors with long-term, stable distributions, while preserving the capital value of its investment portfolio through investment, principally in a range of operational assets, which generate electricity from renewable energy sources, with a particular focus on hydroelectric power. The Trust intends to qualify as a "mutual fund trust" under the Income Tax Act (Canada) (the "Tax Act"). The Trust will not be a "SIFT trust" (as defined in the Tax Act), provided that the Trust complies at all times with its investment restriction which precludes the Trust from holding any "non-portfolio property" (as defined in the Tax Act). All material information about the Trust may be found under Transeastern's issuer profile at www.sedar.com.
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