Enbridge Announces Conversion Results for Series B and Series C Preferred Shares

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Enbridge Announces Conversion Results for Series B and Series C Preferred Shares

PR Newswire

CALGARY, AB, May 19, 2022 /PRNewswire/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) announced today that, after taking into account all election notices received prior to 5:00 p.m. (EST) on May 17, 2022, 107,904 of its 18,269,812 Cumulative Redeemable Preference Shares, Series B (Series B Shares) were tendered for conversion, on a one-for-one basis, into Cumulative Redeemable Preference Shares, Series C of Enbridge (Series C Shares) and 1,188,789 of its 1,730,188 Series C Shares were tendered for conversion, on a one-for-one basis, into Series B Shares of Enbridge, effective on June 1, 2022.

Enbridge, after taking into account all Series B Shares and all Series C Shares tendered for conversion, has determined that there will be less than 1,000,000 Series C Shares outstanding after June 1, 2022. Consequently, all remaining Series C Shares will automatically be converted into Series B Shares on a one-for-one basis on June 1, 2022, and no Series B Shares will be converted into Series C Shares. The Series B Shares and the Series C Shares are currently listed on the Toronto Stock Exchange under the symbols ENB. PR.B. and ENB.PR.C, respectively.

Forward-Looking Statements

Forward-looking information, or forward-looking statements, have been included in this news release to provide information about Enbridge, including statements with respect to the automatic conversion of certain Series C Shares into Series B Shares on June 1, 2022. This information may not be appropriate for other purposes. Although Enbridge believes these forward-looking statements are reasonable based on the information available on the date such statements are made and on processes used to prepare the information, such statements are not guarantees of future events and readers are cautioned against placing undue reliance on forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual events to differ materially from those expressed or implied by such statements.

Enbridge's forward-looking statements are subject to risks and uncertainties, including, but not limited to those risks and uncertainties discussed in this news release and in the Company's other filings with Canadian and United States securities regulators. The impact of any one risk, uncertainty or factor on a particular forward-looking statement is not determinable with certainty as these are interdependent and Enbridge's future course of action depends on management's assessment of all information available at the relevant time. Except to the extent required by applicable law, Enbridge assumes no obligation to publicly update or revise any forward-looking statements made in this news release or otherwise, whether as a result of new information, future events or otherwise. All subsequent forward-looking statements, whether written or oral, attributable to Enbridge or persons acting on its behalf, are expressly qualified in their entirety by these cautionary statements.

About Enbridge Inc. 

Enbridge Inc. is a leading North American energy infrastructure company. We safely and reliably deliver the energy people need and want to fuel quality of life. Our core businesses include Liquids Pipelines, which transports approximately 30 percent of the crude oil produced in North America; Gas Transmission and Midstream, which transports approximately 20 percent of the natural gas consumed in the U.S.; Gas Distribution and Storage, which serves approximately 3.9 million retail customers in Ontario and Quebec; and Renewable Power Generation, which owns approximately 1,766 MW (net) in renewable power generation capacity in North America and Europe. The Company's common shares trade on the Toronto and New York stock exchanges under the symbol ENB. For more information, visit www.enbridge.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

Media                                                                         

Investment Community


Toll Free: (888) 992-0997                                           

Toll Free: (800) 481-2804


Email: [email protected]                                     

Email: [email protected]




Cision View original content:https://www.prnewswire.com/news-releases/enbridge-announces-conversion-results-for-series-b-and-series-c-preferred-shares-301551731.html

SOURCE Enbridge Inc.

Copyright CNW Group 2022

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).