http://biz.yahoo.com/bw/080219/20080219006091.html?.v=1
Press Release Source: Luminus Management, LLC
Luminus Management Nominates Minority Slate of Four Directors for TransAlta Corporation’s Board
Tuesday February 19, 10:35 am ET
Director Nominees Have Significant Unregulated Power, Project Management And Financial Experience
Minority Slate Would Strengthen Board, Take Proactive Steps To Enhance Value
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NEW YORK–(BUSINESS WIRE)–Luminus Management, LLC and LS Power (collectively “Luminus Group”), TransAlta Corporation’s (TSX: TA – News) (NYSE: TAC – News) (the “Company”) largest shareholder with approximately 8% of the Company’s outstanding shares, today announced that it has nominated four highly qualified individuals for election to TransAlta’s Board of Directors at the Company’s 2008 Annual and Special Meeting of Shareholders to be held on April 22, 2008. The nominees are William Rockford, Richard Smith, Theodore Babcock and Jonathan Barrett.
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Mr. Babcock has served as CFO and Treasurer of several power and utility companies, where his responsibilities included capital raising, risk management and key roles in M&A and dispositions. Mr. Babcock was a Managing Director at Laurel Hill Capital Partners (1999-2006), which led a group of investors in the acquisition of TNP Enterprises in the first leveraged buyout of a utility. He also served as CFO of TNP Enterprises (2000-2005) where he helped transition the company through electric market deregulation in Texas. Previously, Mr. Babcock served as Treasurer for Keyspan Energy Corp. (1998), Long Island Lighting Company (1992-1998), AmBase Corp. (1987-1991) and was Assistant Treasurer at Associated Dry Goods Corp. (1984-1987). Most recently, Mr. Babcock was a Managing Director at LS Power Equity Advisors in 2007 where he led an effort targeting significant or controlling investments in U.S. regulated utilities and renewable energy companies. Mr. Babcock received a Bachelor of Science degree in Accounting from Manhattan College and a Master in Business Administration from Iona College.
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About the Luminus Group:
Luminus Management
Founded in 2002, Luminus Management is the Investment Advisor to two investment partnerships – Luminus Energy Partners Master Fund, Ltd. and Luminus Asset Partners, LP. Luminus Management focuses primarily on investing in independent power and utility securities. The investment partnerships to which Luminus Management is Investment Advisor have approximately $1.4 billion of equity under management.
LS Power
Founded in 1990, LS Power is a fully integrated development, investment and asset management group with a proven track record of successful development activities, operations management and commercial contract origination and optimization. As a developer, LS Power has successfully developed gas-fired facilities and coal-fired facilities representing over 7,000 MW of total capacity, and is currently developing more than 6,000 MW of coal, natural gas and renewable power generation facilities. LS Power currently owns and manages three natural gas-fired power generation facilities representing approximately 1,765 MW. LS Power has purchased eighteen power generation projects with approximately 11,800 MW of generation capacity and manages two investment funds with approximately $4.3 billion of committed equity capital.
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Dear John,
I believe that Ted is a member of the Class of 1976.
Mike
[JR: Thanks, Mike. Much appreciated. ]
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Babcock, Theodore (MC1976)
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