Mirant

[ScovilleUnits]

Transcript…meeting of RRI employees April 13, 2010

http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=6888723

Mark Jacobs - RRI Energy — President & CEO...(excerpts from pg 1)

As you know, we announced on Sunday that we’re going to — we’ve entered into a definitive agreement to merge with Mirant Corporation.

The consideration here — and again, this gets into some of the technical aspects. But what’s going to happen is if you are a shareholder of RRI Energy, nothing is going to happen; you’re going to continue to own one share for each share you have. If you own Mirant’s stock, you’re going to get 2.835 shares of RRI stock for each share of Mirant stock you have. So effectively, our company is going to be putting out or issuing a lot of new shares to Mirant shareholders, and as a result of that, then Mirant will become a wholly owned subsidiary of the existing RRI Energy.

Now, RRI Energy is going to change its name then to GenOn Energy, but the same parent company we have today is going to be the same parent company we’ll have going forward. After we put out that stock, Mirant shareholders are going to have 54% of the combined company’s stock and our shareholders are going to have 46%. And that reflects the fact that when you look at the market capitalizations of the two companies today, they’re slightly larger than we are. So, they have a little bit higher — a little bit more than 50% of the ownership percentage.