FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of November, 2004
TRANSALTA CORPORATION
(Translation of registrant’s name into English)
110-12th Avenue S.W., Box 1900, Station “M”, Calgary, Alberta, T2P 2M1
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F____ Form 40-F X
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ..... No ..X...
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-________
Evaluation of Disclosure Controls and Procedures
TransAlta has designed disclosure controls and procedures to ensure that material information relating to the Company, including its consolidated subsidiaries, is made known to the Chief Executive Officer and Chief Financial Officer by others within the Company, including its consolidated subsidiaries, on a regular basis, in particular during the period in which its Current Reports on Form 6-K relating to quarterly financial results are being prepared. The Chief Executive Officer and Chief Financial Officer have evaluated the effectiveness of the disclosure controls and procedures as of a date within 90 days of the date of this report. Based on that evaluation, the Chief Executive Officer and Chief Financial Officer concluded, as of that evaluation date, that the Company’s disclosure controls and procedures were effective to ensure that material information relating to the Company, including its consolidated subsidiaries, was made known to them by others within those entities during the period in which this report was being prepared. There have been no significant changes in the internal controls or in other factors that could significantly affect internal controls subsequent to the date of the most recent evaluation by the Chief Executive Officer and Chief Financial Officer, including any corrective action with regard to significant deficiencies and material weaknesses.
EXHIBITS
Exhibit 1 | Press release dated Nov. 15, 2004. |
TransAlta sells interest in Meridian power plant
CALGARY, Alberta (Nov. 15, 2004) – TransAlta Corporation (TSX: TA; NYSE: TAC) today announced its intention to sell its 50 per cent interest in the 220-megawatt gas-fired Meridian Cogeneration Facility located in Lloydminster, Saskatchewan for $110.0 million, to TransAlta Cogeneration, L.P. (TA Cogen). TA Cogen is a partnership owned 50.01 per cent by TransAlta and 49.99 per cent by TransAlta Power, L.P. (TransAlta Power).
“The sale of Meridian continues our drive to maintain our strong balance sheet and provide the company with increased financial flexibility,” said Steve Snyder, president and CEO.
TA Cogen will finance the acquisition through the use of approximately $50.0 million of cash on hand and the issuance of approximately $30.0 million of units to each of TransAlta Corporation and TransAlta Power.
TransAlta expects to record a gain of approximately $10.0 million after-tax or $0.05 per common share. TransAlta will use the $55.0 million proceeds to repay short-term debt.
The transaction is expected to close on Dec. 1, 2004.
All currency is expressed in Canadian dollars except where noted.
TransAlta is among Canada's largest non-regulated power generation and wholesale marketing companies. We have coal-fired, gas-fired, hydro and renewable generation assets in Canada, the U.S., Mexico and Australia. With approximately 10,000 megawatts of capacity either in operation, under construction or in development, our focus is to efficiently operate our assets in order to provide our wholesale customers with a reliable, low-cost source of power.
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For more information:
Media inquiries:
Investor inquiries:
Tim Richter
Daniel J. Pigeon
Senior Advisor
Median & Government Relations
Director, Investor Relations
Phone: (403) 267-7238
Phone: 1-800-387-3598 in Canada and U.S.
Pager: (403) 213-7041
Phone: (403) 267-2520 Fax (403) 267-2590
Email: media_relations@transalta.com
E-mail: investor_relations@transalta.com
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
(Registrant)
By: /s/ Alison T. Love
(Signature)
Alison T. Love, Corporate Secretary
Date: November 15, 2004