MONTREAL, Oct. 21 /PRNewswire/ - Boralex Power Income Fund (the "Fund") announces that, at a special meeting of unitholders of the Fund held earlier today (the "Special Meeting"), the unitholders of the Fund approved the special resolutions to amend the Fund's trust agreement through the amending provisions contained therein (the "Amendment Resolution") and to authorize and approve the combination of the Fund with 7596740 Canada Inc., an indirect wholly-owned subsidiary of Boralex Inc. (the "Business Combination Resolution"). The Amendment Resolution and the Business Combination Resolution were approved by 85,84% (with a minority approval (as defined under applicable securities laws) rate of 80,59%) and 85,87% (with a minority approval rate of 80,63%), respectively, of the votes cast by unitholders at the Special Meeting.
O'Leary Funds Management L.P. filed a Motion for Injunction which was contested and heard by the Superior Court on October 19 and 20, 2010. Judgment has not yet been rendered and such a judgment may have consequences in relation to the proposed transactions. The Fund will promptly issue a press release upon the judgment being rendered.
About Boralex Power Income Fund
Boralex Power Income Fund (the "Fund") is an unincorporated open-ended trust that indirectly owns ten power generating stations located in the province of Québec and in the United States producing energy from different sources including wood-residue or natural gas thermal and cogenerating facilities as well as hydroelectric power stations. In total, these power stations have an installed capacity of 190 megawatts ("MW"). The Fund's units are listed on the Toronto Stock Exchange ("TSX") under the symbol BPT.UN.
SOURCE BORALEX POWER INCOME FUND