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TC Energy (TRP) recently provided an update on the results of its Series 7 Shares conversion elections. A total of 209,483 out of 24,000,000 fixed-rate Cumulative Redeemable First Preferred Shares, Series 7 were deposited for conversion into floating rate Cumulative Redeemable First Preferred Shares, Series 8 on April 30, 2024. The conversions were subject to specific conditions outlined in a previous news release. However, as the total number of Series 7 Shares tendered for conversion did not meet the threshold, no Series 7 Shares will be converted into Series 8 Shares on the specified date. Investors are advised to refer to the ’s prospectus supplement for more information on the terms and risks associated with investing in Series 7 and Series 8 Shares.
TC Energy (TRP) ha recentemente fornito un aggiornamento sui risultati delle elezioni per la conversione delle sue Azioni della Serie 7. Un totale di 209.483 di 24.000.000 di Azioni Preferenziali Cumulative Rimborsabili a Tasso Fisso, Serie 7, sono state depositate per la conversione in Azioni Preferenziali Cumulative Rimborsabili a Tasso Variabile, Serie 8, prevista per il 30 aprile 2024. Le conversioni erano soggette a condizioni specifiche indicate in un precedente comunicato stampa. Tuttavia, poiché il numero totale di Azioni Serie 7 presentate per la conversione non ha raggiunto la soglia necessaria, nessuna Azione della Serie 7 sarà convertita in Azioni della Serie 8 alla data specificata. Si consiglia agli investitori di fare riferimento al supplemento di prospetto per ulteriori informazioni sui termini e sui rischi associati all'investimento nelle Azioni Serie 7 e Serie 8.
TC Energy (TRP) recientemente proporcionó una actualización sobre los resultados de las elecciones de conversión de sus Acciones Serie 7. Un total de 209,483 de 24,000,000 de Acciones Preferentes Acumulativas Rescatables a Tasa Fija, Serie 7, fueron depositadas para la conversión en Acciones Preferentes Acumulativas Rescatables a Tasa Flotante, Serie 8, programada para el 30 de abril de 2024. Las conversiones estaban sujetas a condiciones específicas detalladas en un comunicado de prensa anterior. Sin embargo, dado que la cantidad total de Acciones Serie 7 entregadas para conversión no alcanzó el umbral requerido, no se convertirán Acciones Serie 7 en Acciones Serie 8 en la fecha especificada. Se aconseja a los inversores que consulten el suplemento del prospecto para más información sobre los términos y los riesgos asociados a la inversión en las Acciones Serie 7 y Serie 8.
TC Energy (TRP)가 최근 시리즈 7 주식의 전환 선거 결과에 대한 업데이트를 제공했습니다. 총 24,000,000개의 고정금리 누적 상환 우선주 시리즈 7 중 209,483개가 2024년 4월 30일에 변동금리 누적 상환 우선주 시리즈 8로 전환될 예정이었습니다. 전환은 이전 뉴스 릴리스에서 설명된 특정 조건에 따라 진행되었습니다. 그러나 전환을 위해 제출된 시리즈 7 주식의 총 수가 기준치에 도달하지 못하여 지정된 날짜에 시리즈 7 주식이 시리즈 8 주식으로 전환되지 않을 예정입니다. 투자자들은 시리즈 7과 시리즈 8 주식 투자와 관련된 조건 및 위험에 대한 자세한 정보를 얻기 위해서는 투자설명서 부록을 참조하도록 권장합니다.
TC Energy (TRP) a récemment fourni une mise à jour concernant les résultats des élections de conversion de ses actions de Série 7. Au total, 209 483 sur 24 000 000 d'actions privilégiées cumulatives rachetables à taux fixe, série 7, ont été déposées pour conversion en actions privilégiées cumulatives rachetables à taux variable, série 8, prévue pour le 30 avril 2024. Les conversions étaient soumises à des conditions spécifiques énoncées dans un communiqué de presse antérieur. Cependant, comme le nombre total d'actions de Série 7 présentées pour conversion n'a pas atteint le seuil requis, aucune action de Série 7 ne sera convertie en actions de Série 8 à la date spécifiée. Les investisseurs sont invités à consulter le supplément de prospectus pour plus d'informations sur les termes et les risques associés à l'investissement dans les actions de Série 7 et Série 8.
TC Energy (TRP) hat kürzlich ein Update über die Ergebnisse der Wahl zur Umwandlung seiner Serie 7 Aktien bereitgestellt. Insgesamt wurden 209.483 von 24.000.000 festverzinslichen kumulativen einlösbaren Vorzugsaktien der Serie 7 zur Umwandlung in variabel verzinsliche kumulative einlösbare Vorzugsaktien der Serie 8 am 30. April 2024 eingereicht. Die Umwandlungen unterlagen spezifischen Bedingungen, die in einer vorherigen Pressemitteilung dargelegt wurden. Da jedoch die Gesamtzahl der für die Umwandlung eingereichten Serie 7-Aktien die erforderliche Schwelle nicht erreichte, werden am angegebenen Datum keine Serie 7-Aktien in Serie 8-Aktien umgewandelt. Anleger werden darauf hingewiesen, das ergänzende Prospekt zu konsultieren, um weitere Informationen zu den Bedingungen und Risiken der Investition in Serie 7 und Serie 8 Aktien zu erhalten.
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CALGARY, Alberta, April 23, 2024 (GLOBE NEWSWIRE) -- – News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) today announced that 209,483 of its 24,000,000 fixed rate Cumulative Redeemable First Preferred Shares, Series 7 (Series 7 Shares) were deposited for conversion on April 30, 2024 on a one-for-one basis into floating rate Cumulative Redeemable First Preferred Shares, Series 8 (Series 8 Shares).
As previously announced in our news release dated April 1, 2024, the conversions are subject to the conditions that: (i) if TC Energy determines that there would be less than one million Series 7 Shares outstanding after April 30, 2024, then all remaining Series 7 Shares will automatically be converted into Series 8 Shares on a one-for-one basis on April 30, 2024; and (ii) alternatively, if TC Energy determines that there would be less than one million Series 8 Shares outstanding after April 30, 2024, no Series 7 Shares will be converted into Series 8 Shares.
As the total number of Series 7 Shares tendered for conversion did not meet the threshold set out above, no Series 7 Shares will be converted into Series 8 Shares on April 30, 2024.
For more information on the terms of, and risks associated with an investment in the Series 7 Shares and the Series 8 Shares, please see the Corporation’s prospectus supplement dated Feb. 25, 2013, which is available on sedarplus.ca or on our website.
About TC Energy We’re a team of 7,000+ energy problem solvers working to safely move, generate and store the energy North America relies on. Today, we’re delivering solutions to the world’s toughest energy challenges – from innovating to deliver the natural gas that feeds LNG to global markets, to working to reduce emissions from our assets, to partnering with our neighbours, customers and governments to build the energy system of the future. It’s all part of how we continue to deliver sustainable returns for our investors and create value for communities.
TC Energy’s common shares trade on the Toronto (TSX) and New York (NYSE) stock exchanges under the symbol TRP. To learn more, visit us at TCEnergy.com.
FORWARD-LOOKING INFORMATION This release contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as "anticipate", "expect", "believe", "may", "will", "should", "estimate", "intend" or other similar words). Forward-looking statements in this document are intended to provide TC Energy security holders and potential investors with information regarding TC Energy and its subsidiaries, including management's assessment of TC Energy's and its subsidiaries' future plans and financial outlook. All forward-looking statements reflect TC Energy's beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. As actual results could vary significantly from the forward-looking information, you should not put undue reliance on forward-looking information and should not use future-oriented information or financial outlooks for anything other than their intended purpose. We do not update our forward-looking information due to new information or future events, unless we are required to by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the most recent Quarterly Report to Shareholders and Annual Report filed under TC Energy’s profile on SEDAR+ at www.sedarplus.ca and with the U.S. Securities and Exchange Commission at www.sec.gov.
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Media Inquiries: Media Relations media@tcenergy.com 403-920-7859 or 800-608-7859
How many Series 7 Shares were deposited for conversion by TC Energy?
TC Energy (TRP) announced that 209,483 out of 24,000,000 fixed-rate Cumulative Redeemable First Preferred Shares, Series 7 were deposited for conversion into Series 8 Shares on April 30, 2024.
What happens if TC Energy determines there would be less than one million Series 7 Shares outstanding after April 30, 2024?
If TC Energy (TRP) determines that there would be less than one million Series 7 Shares outstanding after April 30, 2024, then all remaining Series 7 Shares will automatically be converted into Series 8 Shares on a one-for-one basis.
What happens if TC Energy determines there would be less than one million Series 8 Shares outstanding after April 30, 2024?
Alternatively, if TC Energy (TRP) determines that there would be less than one million Series 8 Shares outstanding after April 30, 2024, no Series 7 Shares will be converted into Series 8 Shares.
Will any Series 7 Shares be converted into Series 8 Shares on April 30, 2024?
No, as the total number of Series 7 Shares tendered for conversion did not meet the threshold, no Series 7 Shares will be converted into Series 8 Shares on April 30, 2024.
Where can investors find more information on investing in Series 7 and Series 8 Shares of TC Energy?
Investors are advised to refer to TC Energy's (TRP) prospectus supplement dated Feb. 25, 2013, available on sedarplus.ca or the company's website, for details on the terms and risks associated with investing in Series 7 and Series 8 Shares.
