Atlantic Power & Infrastructure Corp. (AWSL)

[Gilda99]

Thank you for affirming that the 12% preferred stock was swapped for 8% preferred stock effective October 1,2013. The date of the swap appeared to be prospective (as in "will be swapping") in the PR Newswire.

Gilda

ih.advfn.com/p.php?pid=nmona&article=60575145

Further reduction in operating costs
In Q4 management continued its push toward lower operating costs. Senior Management will be swapping approximately $4.8 million Series A 12% Preferred Shares into Series B 8% non convertible Preferred Shares. The net affect will be a savings of nearly $200,000 in interest annually. In addition management will move to a more project based compensation system whereby salaries are reduced on an annual basis in exchange for potential bonus payments based on projects reaching commercial operation. This better fits the Atlantic long-term business model and allows the company to match payables with receivables plus link management compensation to profitability rather than time. Together these restructuring moves will reduce annual expense by nearly $600,000.