Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]
March 22 2024 - 6:16AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of March, 2024
Commission File Number 001-15214
TRANSALTA
CORPORATION
(Translation of registrant's name into English)
1400, 1100 1st Street S.E., Calgary,
Alberta, Canada, T2G 1B1
(Address of principal executive offices)
Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ¨
Form 40-F þ
Signatures
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
TRANSALTA CORPORATION
By: |
/s/ Todd Stack |
|
Name: Todd Stack |
|
Title: Chief Financial Officer |
Date: March 22, 2024
EXHIBIT INDEX
Exhibit 99.1
TransAlta Corporation Enters into Automatic Share
Purchase Plan
CALGARY, AB, March 22, 2024 /CNW/ - 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, 2023 and terminates May 30, 2024. 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
January 1, 2024, the Company has purchased 2,710,300 Common Shares at a weighted average price per Common Share of $9.52 for an aggregate
value of approximately $25.8 million. Since the beginning of the current NCIB on May 31, 2023, the Company has purchased
4,134,900 at a weighted average price per Common Share of $10.01 for an aggregate value of approximately $41.4 million.
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, 2024.
The ASPP will terminate on the earliest of the date
on which: (a) the maximum purchase limits under the ASPP are reached; (b) May 3, 2024; 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 clean, affordable, energy efficient and reliable
power. Today, TransAlta is one of Canada's largest producers of wind power and Alberta's largest producer of hydroelectric power. For
over 112 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.
View original content:https://www.prnewswire.com/news-releases/transalta-corporation-enters-into-automatic-share-purchase-plan-302096585.html
SOURCE TransAlta Corporation
View original content: http://www.newswire.ca/en/releases/archive/March2024/22/c5876.html
%CIK: 0001144800
For further information: Investor Inquiries: Phone: 1-800-387-3598
in Canada and U.S., Email: investor_relations@transalta.com; Media Inquiries: Phone: 1-855-255-9184, Email: ta_media_relations@transalta.com
CO: TransAlta Corporation
CNW 07:00e 22-MAR-24
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