The sale of Ascendant Group Limited (“Ascendant” or the “Company”) to Algonquin Power & Utilities Corp. (“Algonquin”) has now been completed.

Ascendant’s existing Bermudian management will continue to run the Company and its subsidiaries and a new majority Bermudian Board of Directors has been constituted which includes representatives from Algonquin.

Shareholders of Ascendant can visit www.ascendant.bm for information, where final payment information will be posted.

Ascendant’s new Board Chairman, Barclay Simmons said: “We look forward to this new chapter and the expertise Algonquin brings in renewable energy that will ensure Bermuda is well served with reliable power generation that will be cost-effective, cleaner, and more efficient.”