TORONTO, ONTARIO--(Marketwired - June 24, 2014) - On May 28, 2014, SAI SIRA S.A. ("SAI SIRA") acquired ownership and control of 6,661,000 units ("Units") and an aggregate principal amount of $717,000 7.5% convertible unsecured subordinated debentures ("Debentures") of Transeastern Power Trust ("Transeastern") in the initial public offering of Transeastern (the "Transaction"). The Units were acquired at a price of $1.00 per Unit and the Debentures were acquired at a price of $1.000 per Debenture. As a result of the Transaction, SAI SIRA has beneficial ownership of, and control and direction over, 6,661,000 Units, representing 60.3% of the issued and outstanding Units, and 717 Debentures, representing 6.1% of the issued and outstanding Debentures.
The Units and Debentures were acquired for investment purposes and SAI SIRA may, depending on market and other conditions, increase or decrease its beneficial ownership of Shares whether in the open market, by privately negotiated agreement or otherwise.
SAI SIRA is located at 25 Finlanda Street, District 1, Bucharest Romania, 011776. A copy of the report relating to this acquisition can be obtained from Marius Olteanu at +40 21 230 00 78 or on Transeastern's SEDAR profile at www.SEDAR.com.
The filing of this report is not an admission that an entity named in the report owns or controls any described securities or is a joint actor with another named entity.
FOR FURTHER INFORMATION PLEASE CONTACT:
SAI SIRA S.A.25 Finlanda Street, District 1Bucharest Romania, 011776
+40 21 230 00 78
Source: SAI SIRA S.A.