April 15 (Reuters) - TransAlta Corp TA.TO :
* TRANSALTA UPDATES SHAREHOLDERS ON HEARING PROCESS
* UPDATED SHAREHOLDERS REGARDING PRIVATE PROCEEDINGS SOUGHT TO BE COMMENCED BY DISSIDENT SHAREHOLDER MANGROVE PARTNERS BEFORE OSC AND ASC
* OSC ELECTED TO DECLINE TO ASSERT JURISDICTION AND WILL NOT BE INVOLVED IN THESE PROCEEDINGS ANY FURTHER
* NEXT STEP IN PROCEEDINGS IS FOR MANGROVE TO SEEK LEAVE FROM ASC TO PURSUE ITS COMPLAINTS AGAINST TRANSALTA
* TRANSALTA - WILL OPPOSE MANGROVE'S EFFORTS TO OBTAIN LEAVE AND, IF LEAVE IS GRANTED, WILL VIGOROUSLY CONTEST MERITS OF MANGROVE'S COMPLAINTS
* ASC WILL CONSIDER MANGROVE'S REQUEST FOR LEAVE WEEK, WITH ORAL DECISION SCHEDULED TO BE ISSUED BY ASC ON APRIL 18, 2019