NOTICE TO SHAREHOLDERS OF LIGHT & POWER HOLDINGS LTD.
20 Décembre 2010 - 2:59PM
PR Newswire (Canada)
HALIFAX, Dec. 20 /CNW/ -- HALIFAX, Dec. 20 /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") that the
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) has been approved
by the Barbados Securities Commission and the Barbados Stock
Exchange. The offer will open on December 20, 2010 and close 35
days later on January 24, 2011. The Offer and Circular will be sent
to all Light & Power Holdings shareholders not less than 28
days prior to the close of the Offer. 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. 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. To view
this news release in HTML formatting, please use the following URL:
http://www.cnw.ca/en/releases/archive/December2010/20/c6619.html
table valign="top" border="0"trtdEmera - Investor
Relations: br/ Jenifer Nicholson,
CA br/ Senior Director, Stakeholder
Relations br/ (902)
428-6347 /td td /td
td /td tdEmera - Media Relations:br/ Sasha Irvingbr/
Corporation Communicationsbr/ (902) 428-6685/td/tr trtd
colspan="4"iVisit Emera on the web at/iia
href="http://www.emera.com"www.emera.com/a/i/td/tr/table
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