TransAlta Corporation Enters into Automatic Share Purchase Plan
TransAlta (TSX: TA) (NYSE: TAC) has announced the implementation of an Automatic Share Purchase Plan (ASPP) to facilitate share repurchases under its existing Normal Course Issuer Bid (NCIB). The NCIB, approved by the Toronto Stock Exchange, allows for the purchase of up to 14,000,000 common shares between May 31, 2024, and May 30, 2025.
Since the NCIB's initiation, TransAlta has already purchased 6,102,300 shares at an average price of $11.89, totaling approximately $72.5 million. The ASPP, effective April 1, 2025, will enable share purchases during periods when the company would typically be restricted due to regulatory or self-imposed blackout periods.
The company believes its share price may not always reflect underlying value and views the buyback as an effective use of available funds. The ASPP will terminate upon reaching maximum purchase limits, by May 8, 2025, or upon company termination.
TransAlta (TSX: TA) (NYSE: TAC) ha annunciato l'implementazione di un Piano di Acquisto Automatico di Azioni (ASPP) per facilitare il riacquisto di azioni nell'ambito del suo attuale Offerta Normale di Acquisto dell'Emittente (NCIB). L'NCIB, approvato dalla Borsa di Toronto, consente l'acquisto di fino a 14.000.000 azioni ordinarie tra il 31 maggio 2024 e il 30 maggio 2025.
Dal lancio dell'NCIB, TransAlta ha già acquistato 6.102.300 azioni a un prezzo medio di $11,89, per un totale di circa $72,5 milioni. L'ASPP, che entrerà in vigore il 1° aprile 2025, permetterà acquisti di azioni durante i periodi in cui l'azienda sarebbe normalmente limitata a causa di regolamenti o periodi di blackout autoimposti.
L'azienda ritiene che il prezzo delle sue azioni potrebbe non riflettere sempre il valore sottostante e considera il riacquisto come un uso efficace dei fondi disponibili. L'ASPP terminerà al raggiungimento dei limiti massimi di acquisto, entro l'8 maggio 2025, o alla cessazione da parte dell'azienda.
TransAlta (TSX: TA) (NYSE: TAC) ha anunciado la implementación de un Plan de Compra Automática de Acciones (ASPP) para facilitar la recompra de acciones bajo su actual Oferta Normal de Compra del Emisor (NCIB). La NCIB, aprobada por la Bolsa de Valores de Toronto, permite la compra de hasta 14.000.000 de acciones ordinarias entre el 31 de mayo de 2024 y el 30 de mayo de 2025.
Desde el inicio de la NCIB, TransAlta ya ha comprado 6.102.300 acciones a un precio promedio de $11.89, totalizando aproximadamente $72.5 millones. El ASPP, que entrará en vigor el 1 de abril de 2025, permitirá la compra de acciones durante los períodos en los que la empresa normalmente estaría restringida debido a regulaciones o períodos de bloqueo autoimpuestos.
La empresa cree que el precio de sus acciones puede no reflejar siempre el valor subyacente y considera la recompra como un uso efectivo de los fondos disponibles. El ASPP finalizará al alcanzar los límites máximos de compra, el 8 de mayo de 2025, o tras la terminación por parte de la empresa.
TransAlta (TSX: TA) (NYSE: TAC)는 현재의 정상적인 발행인 입찰(NCIB) 하에 주식 재매입을 용이하게 하기 위해 자동 주식 매입 계획(ASPP)의 시행을 발표했습니다. NCIB는 토론토 증권 거래소의 승인을 받아 14,000,000주의 보통주를 2024년 5월 31일부터 2025년 5월 30일까지 구매할 수 있도록 허용합니다.
NCIB가 시작된 이후, TransAlta는 이미 6,102,300주를 평균 가격 $11.89에 구매하여 총 약 $72.5백만에 달합니다. ASPP는 2025년 4월 1일부터 시행되며, 회사가 일반적으로 규제 또는 자발적 블랙아웃 기간으로 인해 제한될 때 주식 구매를 가능하게 할 것입니다.
회사는 주가가 항상 기본 가치를 반영하지 않을 수 있다고 믿으며, 매입을 가용 자금의 효과적인 사용으로 보고 있습니다. ASPP는 최대 구매 한도에 도달하거나 2025년 5월 8일 또는 회사의 종료 시점에 종료됩니다.
TransAlta (TSX: TA) (NYSE: TAC) a annoncé la mise en œuvre d'un Plan d'Achat Automatique d'Actions (ASPP) pour faciliter le rachat d'actions dans le cadre de son Offre Normale de Rachat d'Émetteur (NCIB) existante. La NCIB, approuvée par la Bourse de Toronto, permet l'achat de jusqu'à 14.000.000 d'actions ordinaires entre le 31 mai 2024 et le 30 mai 2025.
Depuis le lancement de la NCIB, TransAlta a déjà acheté 6.102.300 actions à un prix moyen de 11,89 $, totalisant environ 72,5 millions de dollars. L'ASPP, qui entrera en vigueur le 1er avril 2025, permettra des achats d'actions pendant les périodes où l'entreprise serait normalement restreinte en raison de réglementations ou de périodes de blackout auto-imposées.
L'entreprise estime que le prix de ses actions ne reflète pas toujours la valeur sous-jacente et considère le rachat comme une utilisation efficace des fonds disponibles. L'ASPP prendra fin lorsqu'elle atteindra les limites d'achat maximales, le 8 mai 2025, ou lors de la résiliation par l'entreprise.
TransAlta (TSX: TA) (NYSE: TAC) hat die Implementierung eines Automatischen Aktienkaufplans (ASPP) angekündigt, um Aktienrückkäufe im Rahmen seines bestehenden Normal Course Issuer Bid (NCIB) zu erleichtern. Das NCIB, das von der Toronto Stock Exchange genehmigt wurde, erlaubt den Kauf von bis zu 14.000.000 Stammaktien zwischen dem 31. Mai 2024 und dem 30. Mai 2025.
Seit Beginn des NCIB hat TransAlta bereits 6.102.300 Aktien zu einem Durchschnittspreis von $11,89 gekauft, was insgesamt etwa $72,5 Millionen ausmacht. Der ASPP, der am 1. April 2025 in Kraft tritt, ermöglicht den Aktienkauf während Zeiten, in denen das Unternehmen normalerweise aufgrund von Vorschriften oder selbst auferlegten Sperrfristen eingeschränkt wäre.
Das Unternehmen glaubt, dass der Aktienkurs nicht immer den zugrunde liegenden Wert widerspiegelt, und sieht den Rückkauf als eine effektive Verwendung der verfügbaren Mittel an. Der ASPP endet, wenn die maximalen Kaufgrenzen erreicht sind, bis zum 8. Mai 2025 oder bei Beendigung durch das Unternehmen.
- Strong free cash flow position supporting share buybacks and quarterly dividends
- Already completed $72.5 million in share repurchases at $11.89 per share
- Implementation of ASPP enables consistent share repurchases during blackout periods
- Company indicates current share price may not reflect underlying value
Insights
TransAlta's implementation of an Automatic Share Purchase Plan (ASPP) represents a procedural enhancement to its existing Normal Course Issuer Bid (NCIB) rather than a new capital return initiative. The ASPP enables share repurchases during blackout periods when the company would normally be restricted from buying shares, ensuring more consistent execution of its buyback program.
Since initiating the current NCIB in May 2024, TransAlta has already repurchased 6.1 million shares at an average price of
The company's statement that share prices may not reflect underlying value signals management's belief that shares represent good value at current levels. By canceling repurchased shares, TransAlta reduces shares outstanding, which can potentially increase earnings per share and return value to remaining shareholders.
This announcement reinforces TransAlta's previously established capital allocation strategy, which balances share repurchases with dividend payments, supported by what the company describes as its "strong free cash flow position." The structured approach to completing the remainder of the authorized buyback demonstrates management's commitment to disciplined capital return execution.
CALGARY, Alberta, March 26, 2025 (GLOBE NEWSWIRE) -- TransAlta Corporation (“TransAlta” or the “Company”) (TSX: TA) (NYSE: TAC) announced today that it has entered into an automatic share purchase plan (“ASPP”) with its broker in order to facilitate repurchases of TransAlta’s common shares (“Common Shares”) under the Company’s previously announced normal course issuer bid (“NCIB”).
The Company previously announced that it had received approval from the Toronto Stock Exchange (“TSX”) to purchase up to 14,000,000 of its Common Shares during the 12-month period that commenced May 31, 2024, and terminates May 30, 2025. Purchases under the NCIB may be made through open market transactions on the TSX and any alternative Canadian trading systems on which the Common Shares are traded, based on the prevailing market price. Since the beginning of the current NCIB on May 31, 2024, the Company has purchased 6,102,300 at a weighted average price per Common Share of
The Company believes that the prevailing price for the Common Shares may not, from time to time, reflect the underlying value of the Common Shares and that the purchase of Common Shares pursuant to the NCIB may be an attractive and appropriate use of available funds relative to other alternatives. The ASPP will facilitate purchases under the NCIB as it will allow for purchases of Common Shares to be made at times when the Company would ordinarily not be permitted to make purchases, whether due to regulatory restriction or customary self-imposed blackout periods. TransAlta is committed to enhancing shareholder returns through appropriate capital allocation such as a share buyback and its quarterly dividend, which are underpinned by the Company's strong free cash flow position.
Under the ASPP, the Company’s broker may purchase Common Shares from the effective date of the ASPP until the end of the NCIB. The ASPP will facilitate purchases of Common Shares under the NCIB by authorizing the Company’s broker to make purchases at its sole discretion based on parameters set by the Company in accordance with TSX rules, applicable law and the terms of the ASPP. Outside of periods that the Company is restricted from purchasing Common Shares pursuant to insider trading rules or its own internal trading blackout policies, Common Shares may also be purchased based on management’s discretion, in compliance with TSX rules and applicable law.
All purchases of Common Shares made under the ASPP will be included in determining the number of Common Shares purchased under the NCIB. Any Common Shares purchased by the Company pursuant to the NCIB will be cancelled. The Company is not currently in possession of any material undisclosed information in relation to the Company. The ASPP has been pre-cleared by the TSX and will be effective on April 1, 2025.
The ASPP will terminate on the earliest of the date on which: (a) the maximum purchase limits under the ASPP are reached; (b) May 8, 2025; or (c) the Company terminates the ASPP in accordance with its terms.
About TransAlta Corporation:
TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. TransAlta provides municipalities, medium and large industries, businesses and utility customers with affordable, energy efficient and reliable power. Today, TransAlta is one of Canada’s largest producers of wind power and Alberta’s largest producer of thermal generation and hydro-electric power. For over 113 years, TransAlta has been a responsible operator and a proud member of the communities where we operate and where our employees work and live. TransAlta aligns its corporate goals with the UN Sustainable Development Goals and the Future-Fit Business Benchmark, which also defines sustainable goals for businesses. Our reporting on climate change management has been guided by the International Financial Reporting Standards (IFRS) S2 Climate-related Disclosures Standard and the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. TransAlta has achieved a 66 per cent reduction in GHG emissions or 21.3 million tonnes CO2e since 2015 and received an upgraded MSCI ESG rating of AA.
For more information about TransAlta, visit its website at transalta.com.
Note: All financial figures are in Canadian dollars unless otherwise indicated.
For more information:
| Investor Inquiries: | Media Inquiries: |
| Phone: 1-800-387-3598 in Canada and U.S. | Phone: 1-855-255-9184 |
| Email: investor_relations@transalta.com | Email: ta_media_relations@transalta.com |
FAQ
How many shares has TransAlta (TAC) repurchased under its current NCIB program?
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When does TransAlta's (TAC) new Automatic Share Purchase Plan become effective?
What happens to the shares purchased by TransAlta (TAC) under the NCIB program?
When does TransAlta's (TAC) Automatic Share Purchase Plan terminate?
