Enbridge Announces Conversion Results for Series 11 Preferred Shares

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Enbridge Inc. (TSX: ENB) (NYSE: ENB) announced that no Series 11 Cumulative Redeemable Preference Shares will be converted into Series 12 Shares on March 1, 2025. This decision comes after the conversion notices received by the February 14, 2025 deadline fell short of the required 1,000,000 Series 11 Shares threshold needed to initiate the conversion into Series 12 Shares.

Enbridge operates North American natural gas, oil, and renewable power networks, along with a European offshore wind portfolio. The company focuses on modern energy delivery infrastructure, leveraging over a century of conventional energy experience and two decades in renewable power. They are also developing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.

CALGARY, AB, Feb. 14, 2025 /PRNewswire/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge) announced today that none of its outstanding Cumulative Redeemable Preference Shares, Series 11 (Series 11 Shares) will be converted into Cumulative Redeemable Preference Shares, Series 12 (Series 12 Shares) on March 1, 2025.

After taking into account all conversion notices received from holders of its outstanding Series 11 Shares by the February 14, 2025 deadline for the conversion of the Series 11 Shares into Series 12 Shares, less than the 1,000,000 Series 11 Shares required to give effect to conversions into Series 12 Shares were tendered for conversion.

About Enbridge Inc. 

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We're investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We're advancing new technologies including hydrogen, renewable natural gas, carbon capture and storage. Headquartered in Calgary, Alberta, Enbridge's common shares trade under the symbol ENB on the Toronto (TSX) and New York (NYSE) stock exchanges. To learn more, visit us at enbridge.com.

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SOURCE Enbridge Inc.

FAQ

What was the minimum threshold required for ENB Series 11 Shares conversion in February 2025?

The minimum threshold required was 1,000,000 Series 11 Shares to enable conversion into Series 12 Shares.

When was the deadline for ENB Series 11 Shares conversion notices?

The deadline for conversion notices was February 14, 2025.

What was the planned conversion date for ENB Series 11 Shares to Series 12 Shares?

The planned conversion date was March 1, 2025.

Why did ENB's Series 11 Shares conversion to Series 12 not proceed?

The conversion did not proceed because the number of Series 11 Shares tendered for conversion was less than the required 1,000,000 shares threshold.