-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, A+zgNk5NqwpJgg1EP6OP/eNKMcanq3V3ZKaIztrL8nYIri2ivN8cRG69nadY0B+U /+EBnr7ngP54KM/2GOMFFA== 0001005477-98-002961.txt : 19981030 0001005477-98-002961.hdr.sgml : 19981030 ACCESSION NUMBER: 0001005477-98-002961 CONFORMED SUBMISSION TYPE: PRER14A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19981026 DATE AS OF CHANGE: 19981029 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: COGENERATION CORP OF AMERICA CENTRAL INDEX KEY: 0000795185 STANDARD INDUSTRIAL CLASSIFICATION: 4991 IRS NUMBER: 592076187 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: PRER14A SEC ACT: SEC FILE NUMBER: 001-09208 FILM NUMBER: 98730391 BUSINESS ADDRESS: STREET 1: ONE CARLSON PARKWAY STREET 2: SUITE 240 CITY: MINNEAPOLIS STATE: MN ZIP: 55447-4454 BUSINESS PHONE: 612-745-7900 MAIL ADDRESS: STREET 1: ONE CARLSON PARKWAY STREET 2: SUITE 240 CITY: MINNEAPOLIS STATE: MN ZIP: 55447-4454 FORMER COMPANY: FORMER CONFORMED NAME: NRG GENERATING U S INC DATE OF NAME CHANGE: 19960507 FORMER COMPANY: FORMER CONFORMED NAME: O BRIEN ENVIRONMENTAL ENERGY INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: OBRIEN ENERGY SYSTEMS INC DATE OF NAME CHANGE: 19910804 PRER14A 1 PROXY STATEMENT PURSUANT TO SECTION 14(A) SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant |X| Filed by a Party other than the Registrant |_| Check the appropriate box: |_| Preliminary Proxy Statement |_| Definitive Proxy Statement |_| Definitive Additional Materials |X| Soliciting Material Pursuant to Rule 14a-11(c) or Rule 14a-12 |_| Confidential, For Use of the Commission Only (as permitted by Rule 14a-6(e) (2)) Cogeneration Corporation of America - - - - - -------------------------------------------------------------------------------- (Name of Registrant as Specified in Its Charter) - - - - - -------------------------------------------------------------------------------- (Name of Person(s) Filing Proxy Statement, if Other Than the Registrant) Payment of Filing Fee (Check the appropriate box): |X| No fee required. |_| Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. (1) Title of each class of securities to which transaction applies: - - - - - -------------------------------------------------------------------------------- (2) Aggregate number of securities to which transaction applies: - - - - - -------------------------------------------------------------------------------- (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): - - - - - -------------------------------------------------------------------------------- (4) Proposed maximum aggregate value of transaction: - - - - - -------------------------------------------------------------------------------- (5) Total fee paid: - - - - - -------------------------------------------------------------------------------- |_| Fee paid previously with preliminary materials: - - - - - -------------------------------------------------------------------------------- |_| Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the form or schedule and the date of its filing. (1) Amount previously paid: - - - - - -------------------------------------------------------------------------------- (2) Form, Schedule or Registration Statement no.: - - - - - -------------------------------------------------------------------------------- (3) Filing party: - - - - - -------------------------------------------------------------------------------- (4) Date filed: - - - - - -------------------------------------------------------------------------------- NEWS RELEASE - - - - - -------------------------------------------------------------------------------- FOR IMMEDIATE RELEASE CogenAmerica Accuses NRG of Violating U.S. Bankruptcy Court Order. Seeks Court Injunction Requiring NRG Energy to Adhere to Company By-Laws. - - - - - -------------------------------------------------------------------------------- Minneapolis, MN, October 13, 1998 - Cogeneration Corporation of America (CogenAmerica) (Nasdaq: CGCA) and Lawrence I. Littman, a member of the Independent Directors Committee, have filed suit in the U.S. Bankruptcy Court in New Jersey seeking a permanent injunction enjoining NRG from violating CogenAmerica's by-laws. Littman also was chairman of the Official Committee of the Equity Security Holders appointed by the court in O'Brien Environmental Energy, Inc.'s Chapter 11 case, which ended in 1996. The suit alleges that NRG has attempted to circumvent the company's by-laws agreed to by NRG and approved by the bankruptcy court order in its proxy action aimed at removing CogenAmerica CEO Robert T. Sherman, Jr. as a company director. The company's by-laws state that a super-majority of 75% is required for any action by written shareholder consent in lieu of a shareholders' meeting. NRG has contended that it has been "orally" advised by counsel that the by-laws provision is invalid because it is not part of the company's Certificate of Incorporation. The Littman/Cogenamerica suit says, "NRG, having agreed to the super-majority provisions for stockholder consent in lieu of a meeting, cannot simply declare that the provision violates Delaware law and is now no longer part of the negotiated deal. Undoubtedly, NRG intended this super-majority provision to be valid. If it did not, because it knew of the alleged Delaware law infirmity and failed to disclose it, it is an outright fraud on the court and public stockholders. Thus public stockholders and CogenAmerica will be irreparably harmed if NRG is permitted to walk away from by-law provisions it fully intended to live by and used in inducing stockholders to vote for its plan." The filing further states, "Since the effective date of the NRG Plan [which enabled O'Brien Environmental Energy, Inc. to emerge from bankruptcy in 1996], NRG has consistently demonstrated a desire to take advantage of CogenAmerica and its public stockholders by unreasonably using its influence to cause the NRG-appointed directors to take actions detrimental to the best interests of CogenAmerica. Only the efforts of Mr. Sherman and the Independent Directors Committee have prevented NRG from reaping substantial unwarranted profits at CogenAmerica's expense. [If it replaces Sherman with an NRG appointed director], there is no reason to believe that NRG will not use its newly acquired control in the same fashion." CogenAmercia and its subsidiaries develop and own cogeneration projects that produce electricity and thermal energy for sale to industrial and commercial users and public utilities. The company has cogeneration facilities in New Jersey, Pennsylvania, Oklahoma and Illinois. Approximately 45% of the outstanding common shares of CogenAmerica are owned by NRG Energy, a wholly-owned subsidiary of Northern States Power Company (NYSE: NSP) Except for the historical information contained herein, this news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks and uncertainties, including the risk that project development efforts will not result in the addition of new projects, the risk that actual operating results of any project or of CGCA will not equal or exceed the results expected, and other risks detailed from time to time in the Company's SEC reports, including the report on Form 10-K for the year ended December 31, 1997. For additional information contact Frank N. Hawkins, Jr. or Julie Marshall at Hawk Associates, Inc. (305) 852-2383. Copies of CGCA press releases, SEC filings, current price quotes and other valuable information for investors may be found on the website http://www.hawkassociates.com -----END PRIVACY-ENHANCED MESSAGE-----