CALGARY, Alberta, Might 27, 2024 (GLOBE NEWSWIRE) — TransAlta (NYSE:) Company (TransAlta or the Firm) (TSX: TA) (NYSE: TAC) introduced immediately that the Toronto Inventory Trade (TSX) has accepted the discover filed by the Firm to implement a standard course issuer bid (NCIB) for a portion of its frequent shares (Frequent Shares).

Pursuant to the NCIB, TransAlta could repurchase up to a most of 14,000,000 Frequent Shares, representing roughly 4.6% of the 303,256,652 Frequent Shares issued and excellent as at Might 27, 2024. Purchases below the NCIB could also be made by way of open market transactions on the TSX and any various Canadian buying and selling programs on which the Frequent Shares are traded, based mostly on the prevailing market price. Any Frequent Shares bought below the NCIB can be cancelled.

Transactions below the NCIB will rely upon future market circumstances. TransAlta will initially retain discretion whether or not to make purchases below the NCIB, and to find out the timing, quantity and acceptable price of any such purchases, topic always to relevant TSX and different regulatory necessities. The interval throughout which TransAlta is permitted to make purchases below the NCIB commences on Might 31, 2024, and ends on Might 30, 2025, or such earlier date on which the utmost variety of Frequent Shares are bought below the NCIB or the NCIB is terminated on the Firm’s election.

Underneath TSX guidelines, no more than 211,262 Frequent Shares (being 25% of the typical each day buying and selling quantity on the TSX of 845,049 Frequent Shares for the six months ended April 30, 2024) will be bought on the TSX on any single buying and selling day below the NCIB, with the exception that one block buy in extra of the each day most is permitted per calendar week.

TransAlta has repurchased and cancelled 8,561,800 Frequent Shares on the open market by way of the services of the TSX and/or various Canadian buying and selling programs at a mean price of $9.50 per share below its prior NCIB accredited by the TSX on Might 26, 2023, for the twelve-month interval commencing Might 31, 2023.

The NCIB supplies the Firm with a capital allocation various with a view to long-term shareholder worth. TransAlta’s Board of Administrators and Administration imagine that, infrequently, the market price of the Frequent Shares doesn’t mirror their underlying worth and purchases of Frequent Shares for cancellation below the NCIB could present a possibility to boost shareholder worth.

About TransAlta Company:TransAlta owns, operates and develops a various fleet {of electrical} energy technology belongings in Canada, the US and Australia with a concentrate on long-term shareholder worth. TransAlta supplies municipalities, medium and enormous industries, companies and utility clients with clear, reasonably priced, power environment friendly and dependable energy. In the present day, TransAlta is considered one of Canada’s largest producers of wind energy and Alberta’s largest producer of hydro-electric energy. For over 112 years, TransAlta has been a accountable operator and a proud member of the communities the place we function and the place our staff work and dwell. TransAlta aligns its company targets with the UN Sustainable Improvement Objectives and the Future-Match Enterprise Benchmark, which additionally defines sustainable targets for companies. Our reporting on local weather change administration has been guided by the Worldwide Monetary Reporting Requirements (IFRS) S2 Local weather-related Disclosures Normal and the Job Drive on Local weather-related Monetary Disclosures (TCFD) suggestions. TransAlta has achieved a 66 per cent discount in GHG emissions or 21.3 million tonnes CO2e since 2015 and obtained an upgraded MSCI ESG ranking of AA.

For extra details about TransAlta, go to its web site at transalta.com.

Cautionary Assertion Concerning Ahead-looking Info: This information launch accommodates forward-looking statements and forward-looking data inside the which means of relevant securities legal guidelines. Using any of the phrases could, will, and comparable expressions are meant to determine forward-looking data or statements. Extra notably, and with out limitation, this information launch accommodates forward-looking statements and data regarding TransAlta’s intentions with respect to the NCIB, the consequences of repurchases of Frequent Shares and purchases thereunder, together with any enhancement to shareholder worth. These statements are based mostly on TransAlta’s perception and assumptions based mostly on data accessible on the time the assumptions have been made. These statements are topic to quite a few dangers and uncertainties which will trigger precise outcomes to vary materially from these contemplated by the forward-looking statements. Among the elements that might trigger such variations embrace: the getting into into of an automated securities buy plan; legislative or regulatory developments; any vital modifications to Frequent Share price or buying and selling quantity; continued availability of capital and financing; modifications to basic financial, market or enterprise circumstances; enterprise alternatives that grow to be accessible to, or are pursued by TransAlta;  and different danger elements contained within the Firm’s annual data kind and administration’s dialogue and analysis. Readers are cautioned to not place undue reliance on these forward-looking statements or forward-looking data, which mirror TransAlta’s expectations solely as of the date of this information launch. TransAlta disclaims any intention or obligation to replace or revise these forward-looking statements, whether or not because of new data, future occasions or in any other case, besides as required by regulation.  

Notice: All monetary figures are in Canadian {dollars} until in any other case indicated.

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Supply: TransAlta Company