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Ballard Power Systems Inc.
Ballard Security Holders Approve Transaction for C$41M Non-Dilutive Financing
January 3rd, 2009
Ballard Power Systems Inc. (TSX: BLD)(NASDAQ:BLDP) announced that securityholders have approved the previously announced transaction with Superior Plus Income Fund (TSX: SPF.UN)(www.superiorplus.com) to reorganize the Company's business, resulting in a non-dilutive financing with net cash proceeds of approximately C$41 million (US$34 million). Of the securities voted, 98.3% were voted in favor of the transaction. John Sheridan, Ballard's President and CEO said, "This transaction is very positive for Ballard, as evidenced by the overwhelming support from shareholders. The non-dilutive financing will allow Ballard to execute its growth plan without any need for public...
Source: Law & Health Weekly (2009-01-03)
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