Pembina Pipeline Corporation Announces Redemption of Series 22 Preferred Shares
Pembina Pipeline has announced its plan to redeem all 1,028,130 outstanding Cumulative Redeemable Floating Rate Class A Preferred Shares, Series 22 on January 8, 2025. The redemption price will be $25.50 per share, plus all accrued and unpaid dividends, totaling approximately $26 million. The company has notified the sole registered holder of the Series 22 Shares about the redemption details. Non-registered holders should contact their brokers regarding the redemption process.
Pembina Pipeline ha annunciato il suo piano per riscattare tutte le 1.028.130 azioni privilegiate cumulative rimborsabili di classe A, serie 22, l'8 gennaio 2025. Il prezzo di riscatto sarà di $25,50 per azione, oltre a tutti i dividendi maturati e non pagati, per un totale di circa $26 milioni. L'azienda ha informato l'unico titolare registrato delle azioni della serie 22 riguardo ai dettagli del riscatto. I titolari non registrati devono contattare i propri broker per informazioni sul processo di riscatto.
Pembina Pipeline ha anunciado su plan para redimir todas las 1,028,130 acciones preferentes acumulativas rescatables de clase A, serie 22, el 8 de enero de 2025. El precio de redención será de $25.50 por acción, más todos los dividendos acumulados y no pagados, totalizando aproximadamente $26 millones. La empresa ha notificado al único titular registrado de las acciones de la serie 22 sobre los detalles de la redención. Los titulares no registrados deben contactar a sus corredores sobre el proceso de redención.
Pembina Pipeline는 2025년 1월 8일에 누적 상환 가능 변동 이자율 A급 우선주 시리즈 22로 발행된 총 1,028,130주를 전량 상환할 계획을 발표했습니다. 상환 가격은 주당 $25.50이며, 모든 미지급 및 누적 배당금을 포함하여 총 약 $26백만에 해당됩니다. 회사는 시리즈 22 주식의 유일한 등록 보유자에게 상환 세부 사항을 통지했습니다. 비등록 보유자는 상환 과정에 대해 자신의 브로커에게 문의해야 합니다.
Pembina Pipeline a annoncé son plan de racheter toutes les 1 028 130 actions privilégiées accumulables remboursables de classe A, série 22, le 8 janvier 2025. Le prix de remboursement sera de 25,50 $ par action, plus tous les dividendes accumulés et non payés, pour un total d'environ 26 millions de dollars. L'entreprise a informé le seul titulaire enregistré des actions de la série 22 des détails du remboursement. Les titulaires non enregistrés doivent contacter leurs courtiers concernant le processus de remboursement.
Pembina Pipeline hat seinen Plan bekannt gegeben, am 8. Januar 2025 alle 1.028.130 ausstehenden kumulierten kündbaren Vorzugsaktien der Klasse A, Serie 22, einzulösen. Der Einlösungswert beträgt 25,50 USD pro Aktie, zuzüglich aller aufgelaufenen und nicht gezahlten Dividenden, insgesamt etwa 26 Millionen USD. Das Unternehmen hat den einzigen registrierten Inhaber der Serien-22-Aktien über die Einzelheiten der Einlösung informiert. Nicht registrierte Inhaber sollten sich bezüglich des Einlösungsprozesses an ihre Broker wenden.
- Strategic capital management through redemption of preferred shares
- Company has sufficient liquidity to fund the $26 million redemption
- Cash outflow of approximately $26 million for the redemption
Insights
All financial figures are in Canadian dollars unless otherwise noted.
Pembina intends to redeem all of its 1,028,130 issued and outstanding Series 22 Shares, in accordance with the terms of the Series 22 Shares, as set out in the Company's articles of amendment dated December 1, 2017 on the Redemption Date for a redemption price equal to
The Company has provided notice today of the Redemption Price and the Redemption Date to the sole registered holder of the Series 22 Shares in accordance with the terms of the Series 22 Shares, as set out in the Company's articles of amendment dated December 1, 2017. For non-registered holders of Series 22 Shares, no further action is required however, they should contact their broker or other intermediary with any questions regarding the redemption process for the Series 22 Shares in which they hold a beneficial interest. The Company's transfer agent for the Series 22 Shares is Computershare Investor Services Inc. Questions regarding the redemption process may also be directed to Computershare at 1-800-564-6253 or by email to corporateactions@computershare.com.
About Pembina
Pembina Pipeline Corporation is a leading energy transportation and midstream service provider that has served
Purpose of Pembina: We deliver extraordinary energy solutions so the world can thrive.
Pembina is structured into three Divisions: Pipelines Division, Facilities Division and Marketing & New Ventures Division.
Pembina's common shares trade on the
Forward-Looking Information and Statements
This news release contains certain forward-looking information and statements (collectively, "forward-looking statements"), including forward-looking statements within the meaning of the "safe harbor" provisions of applicable securities legislation, that are based on Pembina's current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In some cases, forward-looking statements can be identified by terminology such as "continue", "anticipate", "schedule", "will", "expects", "estimate", "potential", "planned", "future", "outlook", "strategy", "project", "trend", "commit", "maintain", "focus", "ongoing", "believe" and similar expressions suggesting future events or future performance.
In particular, this news release contains forward-looking statements relating to, without limitation, the timing, Redemption Price and process applicable to the redemption of the Series 22 Shares.
The forward-looking statements are based on certain assumptions that Pembina has made in respect thereof as at the date of this news release regarding, among other things: oil and gas industry exploration and development activity levels and the geographic region of such activity; the success of Pembina's operations; prevailing commodity prices, interest rates, carbon prices, tax rates and exchange rates; the ability of Pembina to maintain current credit ratings; the availability of capital to fund future capital requirements relating to existing assets and projects; future operating costs; geotechnical and integrity costs; that all required regulatory and environmental approvals can be obtained on the necessary terms in a timely manner; prevailing regulatory, tax and environmental laws and regulations; maintenance of operating margins; and certain other assumptions in respect of Pembina's forward-looking statements detailed in Pembina's Management's Discussion and Analysis and Annual Information Form for the year ended December 31, 2023 and from time to time in Pembina's public disclosure documents available atwww.sedarplus.ca, www.sec.gov and through Pembina's website at www.pembina.com.
Although Pembina believes the expectations and material factors and assumptions reflected in these forward-looking statements are reasonable as of the date hereof, there can be no assurance that these expectations, factors and assumptions will prove to be correct. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties including, but not limited to: the regulatory environment and decisions; Indigenous and landowner consultation requirements; the impact of competitive entities and pricing; reliance on third parties to successfully operate and maintain certain assets; the strength and operations of the oil and natural gas production industry and related commodity prices; non-performance or default by counterparties to agreements which Pembina or one or more of its affiliates has entered into in respect of its business; actions by governmental or regulatory authorities; the ability of Pembina to acquire or develop the necessary infrastructure in respect of future development projects; fluctuations in operating results; adverse general economic and market conditions in
This list of risk factors should not be construed as exhaustive. Readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. The forward-looking statements contained in this news release speak only as of the date hereof. Pembina does not undertake any obligation to publicly update or revise any forward-looking statements or information contained herein, except as required by applicable laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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For further information:
Investor Relations
(403) 231-3156
1-855-880-7404
e-mail: investor-relations@pembina.com
www.pembina.com
Source: Pembina Pipeline Corporation
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