Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Amaya Inc. (AYA-T) filed an updated early warning report related to its holdings in NYX Gaming Group Ltd (NYX-X).
Amaya said it had beneficial ownership of a principal amount of $9-million convertible debentures of NYX bearing interest at 6 per cent per annum and convertible at any time into ordinary shares of NYX. Payment of the outstanding amount of the 2014 debentures was due and payable on Nov. 17, 2016, the company said in a release.
Amaya and NYX said they have an agreement to amend the debentures to extend the maturity date and so they will no longer be convertible into shares but will be repayable solely in cash. NYX will be required to make monthly payments of $1-million between May, 2017, and April, 2018.
Capital Power Corp. (CPX-T) said it will receive cash payments from the province of Alberta of $52.4-million annually for 14 years, starting in July, 2017, for a total of $734-million. The payments are part of agreements reached with the Alberta government relating to the phase-out of coal by 2030.
Capital Power said it has agreed to continue to "participate in the Alberta electricity market, support the local communities surrounding the coal facilities through 2030, and fulfill its pension and other commitments to employees."
The province has also agreed to discontinue its legal action against the company and to accept Capital Power's termination of its role as a buyer of the Sundance C Power purchase arrangement.
"In consideration of these actions, Capital Power and its syndicate partners have agreed to pay the Balancing Pool $39-million, of which Capital Power's portion is $200-million or $15-million after tax," the company said.
TransAlta Corp. (TA-T;TAC-N) has an agreement with the Alberta government on transition payments for the cessation of coal-fired emissions from the Keephills 3, Genesee 3 and Sheerness coal-fired plants on or before Dec. 31, 2030.
Under the terms of the off-coal agreement, TransAlta said it will receive annual cash payments of approximately $37.4-million starting in 2017 until 2030.
TransAlta said it has also reached an agreement with the government "to collaborate and co-operate" in the development of a policy to facilitate the conversion of coal-fired generation to gas-fired generation.
Savanna Energy Services Corp. (SVY-T) acknowledged the unsolicited takeover offer announcement from Total Energy Services Inc. (TOT-T) and cautioned that no formal offer has been presented to the company.
"Savanna's board of directors will consider and evaluate Total's offer if and when received and will respond in due course," the company said in a release. "The board recommends that shareholders take no action until they have received further communication from the board."