For more
information

 

Boralex’s Shares

What stock exchange is Boralex listed on?

Boralex is listed on the Toronto Stock Exchange in Canada, under the symbol BLX.

Is it possible to buy Boralex shares directly from the Corporation?

Boralex shares can only be purchased through a security broker.

Does Boralex pay a dividend?

Yes, Boralex’s current dividend is $0.60 per share or $0.15 per quarter.

Are dividends paid by Boralex considered as eligible dividends?

Dividends paid by Boralex since December 15, 2014 are designated as eligible dividends within the meaning of section 89(14) of the lncome tax Act (Canada) and all provincial legislature applicable to eligible dividends.

Specifically in 2014, the following applies:

For the dividend paid in March 2014: $0.13 per share as a non-eligible dividend

For the dividend paid in June 2014: $0.13 per share as a non-eligible dividend

For the dividend paid in September 2014: $0.03 per share as a non-eligible dividend and $0.10 per share as an eligible dividend

For the dividend paid in December 2014: $0.13 per share as an eligible dividend

 

Boralex’s Convertible Debentures (2015 series)

What is the ticker symbol of the convertible debentures?

The debentures trade under the ticker BLX.DB.A on the Toronto Stock Exchange.

How much of these convertible debentures are currently outstanding?

There currently is $143.75 M outstanding of this debenture.

Are the debentures secured by any assets of Boralex?

No, these debentures are unsecured.

Where can I find the Trust Indenture providing for the issue of the 4.5% Convertible Unsecured Subordinated Debentures?

The Trust indenture, which is dated June 22, 2015 can be found at www.sedar.com. It has been filed by Boralex as "other material contract".

Is there a secondary market to trade the convertible debentures?

Yes, the debentures trade on the Toronto Stock Exchange under the symbol BLX.DB.A

What is the conversion price of the convertible debentures?

The debentures can be converted at a price of $19.60 per Boralex share or 51.0204 Boralex shares per $1000 face value of convertible debentures subject to adjustment in accordance with the Trust Indenture.

When can the debentures be converted from the holder’s standpoint?

The debentures are convertible at any time prior to their redemption date.

What is the maturity date of these convertible debentures?

The debentures are set to mature on June 30, 2020

What is the interest coupon on the debentures and at which frequency is the interest paid?

The convertible debentures bear a 4.5% coupon which is payable in arrears twice a year on June 30 and December 31. The first instalment will be due on December 31, 2015

What happens in regards to the payment of interest if I purchase a debenture between two payment dates?

Interest payments are made to the holders registered at close on the fifth business day prior to an Interest Payment date (June 30 and December 31).

Can Boralex redeem the convertible debentures before their maturity?

The Debentures may not be redeemed by the Corporation before June 30, 2018, except in very limited circumstances following a Change of Control. On and after June 30, 2018 and before June 30, 2019, the Debentures may be redeemed by the Corporation, in whole or in part from time to time, at the option of the Corporation on not more than 60 days and not less than 30 days prior notice at a price equal to their principal amount plus accrued and unpaid interest, provided that the volume weighted average trading price of the Common Shares on the TSX during the 20 consecutive trading days ending on the fifth trading day preceding the date on which the notice of redemption is given is not less than 125% of the Conversion Price. On or after June 30, 2019, the Debentures may be redeemed, in whole or in part from time to time, at the option of the Corporation on not more than 60 days and not less than 30 days prior notice at a price equal to their principal amount plus accrued and unpaid interest Does the issue convert to unrestricted common stock? Yes.

What are Boralex’s options upon maturity of the convertible debentures?

On redemption or at maturity, Boralex will repay the indebtedness represented by the Debentures by paying to the Debenture Trustee in lawful money of Canada an amount equal to the aggregate principal amount of the outstanding Debentures, which are to be redeemed or which have matured, together with accrued and unpaid interest thereon. Boralex may, at its option, on not more than 60 and not less than 40 days prior notice, subject to applicable regulatory approval and other conditions, elect to satisfy its obligation to pay the principal amount of the Debentures which are to be redeemed or which are due on the Maturity Date, by issuing freely tradeable Common Shares to the holders of the Debentures. Any accrued and unpaid interest thereon will be paid in cash. If a holder converts between an interest record date and payable date, does that holder forfeit such payment upon converting? No, accrued interests will be payable to the holder up to the day before the conversion.

What are the tax consequences of holding the Boralex debentures?

Each situation should be analyzed within the tax situation of the holder. For this reason, Boralex declines to comment on any specific tax issues concerning the debentures. Specific questions should be directed to your tax advisor.

 

General Information

How can I change my mailing address or other information related to the material I receive from Boralex?

It depends on whether you have the stock certificate yourself, or whether the stock is being held on your behalf by a security broker.

If you hold the stock certificate, you can contact our transfer agent directly at:

Computershare Investor Services
1500 University St., Suite 700
Montreal, Québec Canada H3A 3S8
Phone: 1-800-564-6253 / 514-982-7888
Fax: 1-888-453-0330 / 514-982-7635
Email: caregistryinfo@computershare.com

If your shares are held by a broker, you must contact your broker.

If you are unsure which category you are in, contact our Investor Relations Department by phone at 514-284-9890, by fax at 514-284-9895 or by email at info@boralex.com.

Who is the transfer agent responsible for handling questions about the common shares and convertible debentures?

Questions with regards to these debentures should be directed to Computershare Trust Company of Canada. They can be reached at 1-800-564-6253 or 514-992-1188 or service@computershare.com.

What is the underlying CUSIP number of the debentures and Boralex common stock?

Boralex common shares:
CUSIP 09950M300

Boralex convertible debentures :
CUSIP 09950MAD44

Who is in charge of investor relations at Boralex and how can I reach that person?

The person who handles financial questions is Marc Jasmin, Director, investor Relations. You can reach him by phone at 514-284-9868, by fax at 514-284-9895 or by email at marc.jasmin@boralex.com.