/C O R R E C T I O N from Source -- Emera Inc./
29 Novembre 2010 - 9:31PM
PR Newswire (Canada)
HALIFAX, Nov. 29 /CNW/ -- In c8664 distributed today at 2:43 pm
EST, please note that the second sentence of the second paragraph
has been expanded. Corrected copy follows: NOTICE TO SHAREHOLDERS
OF LIGHT & POWER HOLDINGS LTD. THE OFFER HALIFAX, Nov. 29 /CNW/
- Emera Inc. ("Emera" - Toronto Stock Exchange listing "EMA")
wishes to advise all shareholders of Light & Power Holdings
Ltd. ("Light & Power Holdings" - Barbados Stock Exchange
listing: "LPH") of its intention to offer to purchase all issued
and outstanding common shares in Light & Power Holdings at a
cash price per share of BB$25.70 (twenty five Barbados dollars and
seventy Barbados cents). At the current U.S. dollar to Barbados
dollar exchange rate, this offer is the same as the price Emera
paid to Leucadia National Corporation when it acquired 38% of Light
& Power Holdings in May 2010. This offer is subject to the
approval of an Offer and Circular by the Barbados Securities
Commission and the Barbados Stock Exchange, and if approved, a
further notice will be provided and the Offer and Circular will be
sent to all Light & Power Holdings shareholders. A
decision on these approvals is expected in December, 2010. Light
& Power Holdings is the parent company of The Barbados Light
& Power Company Limited ("BLPC"). BLPC is the sole
electric utility operator on the island of Barbados, serving
120,000 customers. BLPC has three power generation stations
consisting of 239 MW of installed capacity. About Emera Emera Inc.
(EMA and EMA.PR.A -TSX) is an energy and services company with $5.8
billion Canadian dollars in assets. Electricity is Emera's core
business. Approximately 94% of Emera's revenues are earned by Nova
Scotia Power Inc (NSPI), Bangor Hydro Electric Company (BHE) and
the Brunswick Pipeline. NSPI and BHE are wholly-owned regulated
electric utilities which together serve 603,000 customers. The
Brunswick Pipeline is a 145 km gas pipeline in New Brunswick. Emera
also owns 19% of St. Lucia Electricity Services Limited, which
serves more than 50,000 customers on the Caribbean island of St.
Lucia, 25% of Grand Bahama Power Company which serves 19,000
customers on the Caribbean island of Grand Bahama and 38% of Light
& Power Holdings, which serves 120,000 customers on the
Caribbean island of Barbados through its regulated electric
utility, The Barbados Light and Power Company. In addition to its
electric utility investments, Emera owns Bayside Power, a 260 MW
gas-fired power plant in Saint John, New Brunswick; Emera Energy
Services, a physical natural gas and power marketing and asset
management business; a joint venture interest in Bear Swamp, a 600
megawatt pumped storage hydro-electric facility in northern
Massachusetts; a 12.9% interest in the Maritimes & Northeast
Pipeline; and an 8.2% interest in Open Hydro. table valign="top"
border="0"trtdEmera - Investor Relations:/td tdEmera - Media
Relations:/td/tr trtdJill MacDonald, CA/td tdSasha Irving/td/tr
trtd nowrap="nowrap"Manager, Investor
Relations /td td nowrap="nowrap"Corporation
Communications/td/tr trtd(902) 428-6486/td td(902)
428-6685/td/tr/table piVisit Emera on the web at/iia
href="http://www.emera.com"www.emera.com/a/i/p
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