Altius Renewable Royalties Reports Voting Results from November 19 2024 Special Meeting of Shareholders

Rhea-AI Summary

Altius Renewable Royalties (TSX: ARR, OTCQX: ATRWF) announces shareholders' approval of the special resolution for arrangement with Royal Aggregator LP, an affiliate of Northampton Capital Partners. 27,132,254 shares (94.26%) voted in favor, with 8,762,760 shares (84.14%) of minority shareholders supporting the arrangement. The transaction is expected to close around end of November 2024, following which the company will be delisted from TSX and cease being a reporting issuer in Canada.

Positive

• High shareholder approval rate with 94.26% votes in favor
• Strong minority shareholder support with 84.14% approval
• 93% overall voting participation rate

Negative

• Upcoming delisting from TSX
• Company will cease to be a public reporting issuer

ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)-- Altius Renewable Royalties Corp. (TSX: ARR) (OTCQX: ATRWF) (“ARR” or the “Company”), is pleased to announce that the shareholders of the Company (the “Shareholders”) have approved the special resolution (the “Arrangement Resolution”) with Royal Aggregator LP (the “Purchaser”) (an affiliate of Northampton Capital Partners, LLC (“NCPL” and together with its controlled affiliates, “Northampton”)) at the special meeting of Shareholders held on November 19, 2024 (the “Meeting”).

A total of 27,132,254 shares were voted in favour, representing 94.26% of the votes cast by Shareholders present or represented by proxy; and 8,762,760 shares representing 84.14% of the votes cast by Shareholders present or represented by proxy at the Meeting, excluding votes cast by Insiders, as detailed below. ARR thanks its shareholders for the record high voting participation rate.

RESOLUTION	FOR	WITHHELD/AGAINST	RESULT
Arrangement Resolution	27,132,2541	1,651,197	94.26% Approved
Arrangement Resolution (Majority of Minority)	8,762,7602	1,651,197	84.14% Approved

Earl Ludlow, Chair of ARR commented, “We first and foremost wish to express our appreciation to shareholders for the exceptionally high percentage of shares, at 93%, that were voted in consideration of the proposed transaction. Of these, more than 94% of total votes and more than 84% of minority shareholder votes were cast in favour of proceeding to close the transaction. This result is clear in the direction it provides to the Special Committee and the Board and we will now work to fulfill this mandate expeditiously on behalf of all of our shareholders.”

Subject to receipt of the final order of the Court of King’s Bench of Alberta, the transaction is expected to close on or around the end of November, 2024. Following the completion of the Arrangement, the company expects to be delisted from the TSX and to cease being a reporting issuer in all provinces and territories of Canada.

About ARR

ARR is a renewable energy royalty company whose business is to provide long-term, royalty level investment capital to renewable power developers, operators, and originators. ARR has 35 renewable energy royalties representing approximately 2.4 GW of renewable power on operating projects and an additional approximate 5.8 GW on projects in construction and development phase, across several regional power pools in the U.S. The Corporation also expects future royalties from GBR's investments in Bluestar Energy Capital, Hodson Energy and Hexagon Energy, which increase the total development project pipeline to approximately 18.6 GW. The Corporation combines industry expertise with innovative, partner-focused solutions to further the growth of the renewable energy sector as it fulfills its critical role in enabling the global energy transition.

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1 Including 18,369,494 common shares held by Insiders

2 Excluding 18,369,494 common shares held by Insiders

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20241119270334/en/

Flora Wood

Email: Flora@arr.energy

Tel: 1.877.576.2209

Direct: 1.416.346.9020

Ben Lewis

Email: Ben@arr.energy

Tel: 1.877.576.2209

Source: Altius Renewable Royalties Corp.

FAQ

What percentage of shareholders approved Altius Renewable Royalties (ATRWF) arrangement resolution?

94.26% of total shareholders and 84.14% of minority shareholders voted in favor of the arrangement resolution.

When will Altius Renewable Royalties (ATRWF) be delisted from TSX?

The company is expected to be delisted from TSX after the transaction closes, around the end of November 2024.

What is the expected closing date for Altius Renewable Royalties (ATRWF) arrangement with Royal Aggregator LP?

The transaction is expected to close around the end of November 2024, subject to final court approval.