{"id":398731,"date":"2020-12-14T06:53:17","date_gmt":"2020-12-14T11:53:17","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=398731"},"modified":"2020-12-14T06:53:17","modified_gmt":"2020-12-14T11:53:17","slug":"brookfield-renewable-announces-normal-course-issuer-bids-for-units-and-exchangeable-shares","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-renewable-announces-normal-course-issuer-bids-for-units-and-exchangeable-shares\/","title":{"rendered":"Brookfield Renewable Announces Normal Course Issuer Bids for Units and Exchangeable Shares"},"content":{"rendered":"<h2>\nAll amounts in US dollars unless otherwise indicated.<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p align=\"justify\">BROOKFIELD, NEWS, Dec.  14, 2020  (GLOBE NEWSWIRE) &#8212; Brookfield Renewable today announced that the Toronto Stock Exchange (the \u201c<strong>TSX<\/strong>\u201d) has accepted notices filed by Brookfield Renewable Partners L.P. (<strong>TSX: BEP.UN<\/strong>;<strong> NYSE: BEP<\/strong>) (\u201c<strong>BEP<\/strong>\u201d) of its intention to renew its normal course issuer bid for its limited partnership units (\u201c<strong>Units<\/strong>\u201d) and by Brookfield Renewable Corporation (<strong>TSX: BEPC<\/strong>;<strong> NYSE: BEPC<\/strong>) (\u201c<strong>BEPC<\/strong>\u201d and together with BEP, \u201c<strong>Brookfield Renewable<\/strong>\u201d) of its intention to commence a normal course issuer bid for its outstanding class A exchangeable subordinate voting shares (\u201c<strong>Exchangeable Shares<\/strong>\u201d). Brookfield Renewable believes that in the event that Units or Exchangeable Shares trade in a price range that does not fully reflect their intrinsic value, the acquisition of Units or Exchangeable Shares, as applicable, may represent an attractive use of available funds.<\/p>\n<p align=\"justify\">Brookfield Renewable is authorized to repurchase up to 13,740,072 Units and 8,609,220 Exchangeable Shares, representing 5% of its issued and outstanding Units and Exchangeable Shares, respectively. At the close of business on December 11, 2020, there were 274,801,453 Units and 172,184,416 Exchangeable Shares issued and outstanding. Under Brookfield Renewable\u2019s normal course issuer bids, it may repurchase up to 95,559 Units and 103,625 Exchangeable Shares on the TSX during any trading day, which represents 25% of the average daily trading volume of 382,236 Units and 414,502 Exchangeable Shares, respectively.<sup>1<\/sup><\/p>\n<p align=\"justify\">Repurchases under each normal course issuer bid are authorized to commence on December 16, 2020 and each normal course issuer bid will terminate on December 15, 2021, or earlier should either BEP or BEPC complete its repurchases prior to such date.<\/p>\n<p>Under BEP\u2019s prior normal course issuer bid that commenced on December 12, 2019 and expired on December 11, 2020, BEP previously sought and received approval from the TSX to repurchase up to 13,350,000 Units (on a post-stock split basis). BEP has not repurchased any Units under its existing normal course issuer bid in the past 12 months.<\/p>\n<p align=\"justify\">All purchases will be made through the facilities of the TSX, the New York Stock Exchange and\/or alternative trading systems, if eligible, and all Units and Exchangeable Shares acquired under the applicable normal course issuer bid will be cancelled. Repurchases will be subject to compliance with applicable United States federal securities laws, including Rule 10b-18 under the United States Securities Exchange Act of 1934, as amended, as well as applicable Canadian securities laws.\u00a0<\/p>\n<p>\n        <sup>1<\/sup> In accordance with the rules of the TSX, the average daily trading volume was calculated for the six months ended November 30, 2020 for BEP and from the first day of trading (July 24, 2020) to November 30, 2020 for BEPC, as adjusted for each of BEP\u2019s and BEPC\u2019s recently completed three-for-two stock split.<\/p>\n<p align=\"justify\">From time to time, when Brookfield Renewable does not possess material non-public information about itself or its securities, it may enter into an automatic purchase plan with its broker to allow for the repurchase of Units or Exchangeable Shares, as applicable, subject to certain trading parameters, at times when Brookfield Renewable ordinarily would not be active in the market due to its own internal trading blackout periods and insider trading rules or otherwise. Any such plans entered into with the broker of Brookfield Renewable will be adopted in accordance with applicable Canadian and\u00a0U.S.\u00a0securities laws including the requirements of Rule 10b5-1 under the United States Securities Exchange Act of 1934, as amended. Outside of these periods, Units and Exchangeable Shares will be repurchased in accordance with management\u2019s discretion and in compliance with applicable law.<\/p>\n<p align=\"justify\">\n        <strong>Brookfield Renewable<\/strong> operates one of the world\u2019s largest publicly traded, pure-play renewable power platforms.\u00a0\u00a0 Our portfolio consists of hydroelectric, wind, solar and storage facilities in\u00a0North America,\u00a0South America,\u00a0Europe\u00a0and\u00a0Asia, and totals over 19,000 megawatts of installed capacity and an 18,000 megawatt development pipeline. Investors can access its portfolio either through Brookfield Renewable Partners L.P. (NYSE: BEP; TSX: BEP.UN), a\u00a0Bermuda-based limited partnership, or Brookfield Renewable Corporation (NYSE, TSX: BEPC), a Canadian corporation. Further information is available at\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=totGac6ON3ivDU1uOtkP9KBYDpoXS_30dcaf2OGxtJX1n0HWuTxSBR-zficakOA-M3w85plVnOAa--ImotfgyxGE8GvtnFsLEFw7rTMtCec7y9WqrXc_WUp31Vr2KgiUhFe01tNDsniRx5vP7mgcmU0l7uuvC6185J6_zhDLWF4FACkXR5eUI-DuVCj_pakA876Q2Hq8ieGfJyu6wd8YMHGsAX2vst3VsIaED42sfZFhk3C-VVDVvrMlsoBXVUkBxQtg8Obn7_MkY50iLCVrww==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.bep.brookfield.com<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=totGac6ON3ivDU1uOtkP9KBYDpoXS_30dcaf2OGxtJV8f0X-5Yj9sHMvnsCF8bfbvK0tnYzhgMJHETxZzb-C87K-QUY_d4omfWpq0ZWLtIDpoI9kGK9MBkmIej7qDFOyAhr65Z7L2CDaTRtLDhgU5KDmK9AuRYFnKSJdlhmw0-lTqETvtb9JspZMzr-kEaeBbT32WeBYDT3mrrS3PVt2PXiJKl5T2g_KD3Ci7EDkW4qry-cl2u2aQ84L4Mn9DZmJRR31ETwnFElaYdwunpDABlX3iSWNnKjGesPRfmRIj18=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.bep.brookfield.com\/bepc<\/a>.Important information may be disseminated exclusively via the website; investors should consult the site to access this information.<\/p>\n<p align=\"justify\">Brookfield Renewable is the flagship listed renewable power company of Brookfield Asset Management, a leading global alternative asset manager with approximately\u00a0$575 billion\u00a0of assets under management.<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:49%;width:49%;min-width:49%\">\n            <em><br \/>\n              <strong>Contact information:<\/strong><br \/>\n            <\/em>\n          <\/td>\n<td style=\"max-width:51%;width:51%;min-width:51%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\n            <em><br \/>\n              <strong>Media:\u00a0<\/strong><br \/>\n            <\/em>\n          <\/td>\n<td>\n            <em><br \/>\n              <strong>Investors:<\/strong><br \/>\n            <\/em>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <em><br \/>\n              <strong>Claire Holland\u00a0\u00a0<\/strong><br \/>\n            <\/em>\n          <\/td>\n<td>\n            <em><br \/>\n              <strong>Robin Kooyman<\/strong><br \/>\n            <\/em>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <em><br \/>\n              <strong>Senior Vice President \u2013 Communications\u00a0<\/strong><br \/>\n            <\/em>\n          <\/td>\n<td>\n            <em><br \/>\n              <strong>\u00a0Senior Vice President \u2013 Investor Relations<\/strong><br \/>\n            <\/em>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <em><br \/>\n              <strong>(416) 369-8236\u00a0<\/strong><br \/>\n            <\/em>\n          <\/td>\n<td>\n            <em><br \/>\n              <strong>(416) 649-8172<\/strong><br \/>\n            <\/em>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <em><br \/>\n              <strong>claire.holland@brookfield.com<\/strong><br \/>\n            <\/em>\n          <\/td>\n<td>\n            <em><br \/>\n              <strong>\u00a0robin.kooyman@brookfield.com<\/strong><br \/>\n            <\/em>\n          <\/td>\n<\/tr>\n<\/table>\n<p align=\"both\">\n        <em><br \/>\n          <strong>Cautionary Statement Regarding Forward-looking Statements<\/strong><br \/>\n        <\/em>\n      <\/p>\n<p align=\"justify\">\n        <em>This news release contains forward-looking statements and information within the meaning of Canadian securities laws and \u201cforward-looking statements\u201d within the meaning of Section 27A of the\u00a0U.S.\u00a0Securities Act of 1933, as amended, Section 21E of the\u00a0U.S.\u00a0Securities Exchange Act of 1934, as amended, \u201csafe harbor\u201d provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Forward-looking statements can be identified by the use of words such as \u201cbelieves\u201d and \u201cmay\u201d or variations of such words and phrases and include statements regarding potential future repurchases by BEP and BEPC.\u00a0Although BEP and BEPC believe that these forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on them, or any other forward-looking statements or information in this news release. The future performance and prospects of BEP and BEPC are subject to a number of known and unknown risks and uncertainties. Factors that could cause actual results of BEP and BEPC to differ materially from those contemplated or implied by the statements in this news release<\/em><br \/>\n        <em>include: general economic conditions; interest rate changes; availability of equity and debt financing; the performance of the Units and Exchangeable Shares or the stock exchanges generally; and other risks and factors described in the documents filed by BEP and BEPC with securities regulators in Canada and the United States including under \u201cRisk Factors\u201d in (i) BEP\u2019s most recent Annual Report on Form 20-F and (ii) the prospectus of BEPC dated June 29, 2020 in respect of the special distribution of Exchangeable Shares to unitholders of BEP, and other risks and factors that are described therein.<\/em>\n      <\/p>\n<p align=\"justify\">\n        <em>Except as required by law, BEP and BEPC do not undertake any obligation to publicly update or revise any forward-looking statements or information, whether written or oral, whether as a result of new information, future events or otherwise.<\/em>\n      <\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExMTQ2MiMzODc5MzgxIzIwOTg0NTk=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/b557bdb7-9fbc-4156-bfc9-0343a1d4e743\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>All amounts in US dollars unless otherwise indicated. BROOKFIELD, NEWS, Dec. 14, 2020 (GLOBE NEWSWIRE) &#8212; Brookfield Renewable today announced that the Toronto Stock Exchange (the \u201cTSX\u201d) has accepted notices filed by Brookfield Renewable Partners L.P. (TSX: BEP.UN; NYSE: BEP) (\u201cBEP\u201d) of its intention to renew its normal course issuer bid for its limited partnership units (\u201cUnits\u201d) and by Brookfield Renewable Corporation (TSX: BEPC; NYSE: BEPC) (\u201cBEPC\u201d and together with BEP, \u201cBrookfield Renewable\u201d) of its intention to commence a normal course issuer bid for its outstanding class A exchangeable subordinate voting shares (\u201cExchangeable Shares\u201d). Brookfield Renewable believes that in the event that Units or Exchangeable Shares trade in a price range that does not fully reflect their intrinsic value, the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-renewable-announces-normal-course-issuer-bids-for-units-and-exchangeable-shares\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Brookfield Renewable Announces Normal Course Issuer Bids for Units and Exchangeable Shares&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-398731","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Brookfield Renewable Announces Normal Course Issuer Bids for Units and Exchangeable Shares - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-renewable-announces-normal-course-issuer-bids-for-units-and-exchangeable-shares\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brookfield Renewable Announces Normal Course Issuer Bids for Units and Exchangeable Shares - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"All amounts in US dollars unless otherwise indicated. BROOKFIELD, NEWS, Dec. 14, 2020 (GLOBE NEWSWIRE) &#8212; Brookfield Renewable today announced that the Toronto Stock Exchange (the \u201cTSX\u201d) has accepted notices filed by Brookfield Renewable Partners L.P. (TSX: BEP.UN; NYSE: BEP) (\u201cBEP\u201d) of its intention to renew its normal course issuer bid for its limited partnership units (\u201cUnits\u201d) and by Brookfield Renewable Corporation (TSX: BEPC; NYSE: BEPC) (\u201cBEPC\u201d and together with BEP, \u201cBrookfield Renewable\u201d) of its intention to commence a normal course issuer bid for its outstanding class A exchangeable subordinate voting shares (\u201cExchangeable Shares\u201d). Brookfield Renewable believes that in the event that Units or Exchangeable Shares trade in a price range that does not fully reflect their intrinsic value, the &hellip; Continue reading &quot;Brookfield Renewable Announces Normal Course Issuer Bids for Units and Exchangeable Shares&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-renewable-announces-normal-course-issuer-bids-for-units-and-exchangeable-shares\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-14T11:53:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExMTQ2MiMzODc5MzgxIzIwOTg0NTk=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/brookfield-renewable-announces-normal-course-issuer-bids-for-units-and-exchangeable-shares\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/brookfield-renewable-announces-normal-course-issuer-bids-for-units-and-exchangeable-shares\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Brookfield Renewable Announces Normal Course Issuer Bids for Units and Exchangeable Shares\",\"datePublished\":\"2020-12-14T11:53:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/brookfield-renewable-announces-normal-course-issuer-bids-for-units-and-exchangeable-shares\\\/\"},\"wordCount\":1075,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/brookfield-renewable-announces-normal-course-issuer-bids-for-units-and-exchangeable-shares\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODExMTQ2MiMzODc5MzgxIzIwOTg0NTk=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/brookfield-renewable-announces-normal-course-issuer-bids-for-units-and-exchangeable-shares\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/brookfield-renewable-announces-normal-course-issuer-bids-for-units-and-exchangeable-shares\\\/\",\"name\":\"Brookfield Renewable Announces Normal Course Issuer Bids for Units and Exchangeable Shares - 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BROOKFIELD, NEWS, Dec. 14, 2020 (GLOBE NEWSWIRE) &#8212; Brookfield Renewable today announced that the Toronto Stock Exchange (the \u201cTSX\u201d) has accepted notices filed by Brookfield Renewable Partners L.P. (TSX: BEP.UN; NYSE: BEP) (\u201cBEP\u201d) of its intention to renew its normal course issuer bid for its limited partnership units (\u201cUnits\u201d) and by Brookfield Renewable Corporation (TSX: BEPC; NYSE: BEPC) (\u201cBEPC\u201d and together with BEP, \u201cBrookfield Renewable\u201d) of its intention to commence a normal course issuer bid for its outstanding class A exchangeable subordinate voting shares (\u201cExchangeable Shares\u201d). Brookfield Renewable believes that in the event that Units or Exchangeable Shares trade in a price range that does not fully reflect their intrinsic value, the &hellip; Continue reading \"Brookfield Renewable Announces Normal Course Issuer Bids for Units and Exchangeable Shares\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-renewable-announces-normal-course-issuer-bids-for-units-and-exchangeable-shares\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-14T11:53:17+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExMTQ2MiMzODc5MzgxIzIwOTg0NTk=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-renewable-announces-normal-course-issuer-bids-for-units-and-exchangeable-shares\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-renewable-announces-normal-course-issuer-bids-for-units-and-exchangeable-shares\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Brookfield Renewable Announces Normal Course Issuer Bids for Units and Exchangeable Shares","datePublished":"2020-12-14T11:53:17+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-renewable-announces-normal-course-issuer-bids-for-units-and-exchangeable-shares\/"},"wordCount":1075,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-renewable-announces-normal-course-issuer-bids-for-units-and-exchangeable-shares\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExMTQ2MiMzODc5MzgxIzIwOTg0NTk=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-renewable-announces-normal-course-issuer-bids-for-units-and-exchangeable-shares\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-renewable-announces-normal-course-issuer-bids-for-units-and-exchangeable-shares\/","name":"Brookfield Renewable Announces Normal Course Issuer Bids for Units and Exchangeable Shares - 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