An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Pembina Pipeline Corporation Announces Conversion Results for Series 1 Preferred Shares
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Pembina Pipeline Corporation (PPL) Announces No Conversion of Series 1 Shares to Series 2 Shares. Pembina Pipeline Corporation announced that none of Pembina's Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 1 will be converted into Cumulative Redeemable Floating Rate Class A Preferred Shares, Series 2 on December 1, 2023. After considering all conversion notices received, less than the required number of Series 1 Shares were tendered for conversion.
Positive
None.
Negative
None.
CALGARY, Alberta--(BUSINESS WIRE)--
Pembina Pipeline Corporation ("Pembina") (TSX: PPL; NYSE: PBA) announced today that none of Pembina's Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 1 ("Series 1 Shares") (TSX: PPL.PR.A) will be converted into Cumulative Redeemable Floating Rate Class A Preferred Shares, Series 2 of Pembina ("Series 2 Shares") on December 1, 2023.
After taking into account all the conversion notices received from holders of its outstanding Series 1 Shares by the November 16, 2023 deadline for the conversion of the Series 1 Shares into Series 2 Shares, less than the 1,000,000 Series 1 Shares required to give effect to conversions into Series 2 Shares were tendered for conversion.
About Pembina
Pembina Pipeline Corporation is a leading energy transportation and midstream service provider that has served North America's energy industry for more than 65 years. Pembina owns an integrated network of hydrocarbon liquids and natural gas pipelines, gas gathering and processing facilities, oil and natural gas liquids infrastructure and logistics services, and an export terminals business. Through our integrated value chain, we seek to provide safe and reliable energy solutions that connect producers and consumers across the world, support a more sustainable future and benefit our customers, investors, employees and communities. For more information, please visit www.pembina.com.
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 Toronto and New York stock exchanges under PPL and PBA, respectively. For more information, visit www.pembina.com.
What did Pembina Pipeline Corporation announce about its Series 1 Shares?
Pembina announced that none of its Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 1 will be converted into Cumulative Redeemable Floating Rate Class A Preferred Shares, Series 2 on December 1, 2023.
How many Series 1 Shares were tendered for conversion?
Less than the required 1,000,000 Series 1 Shares were tendered for conversion into Series 2 Shares.
at pembina, we're more than pipelines. we are a leading transportation and midstream service provider that has been serving north america's energy industry for over 60 years. pembina owns and operates pipelines that transport various hydrocarbon liquids including conventional and synthetic crude oil, heavy oil and oil sands products, condensate (diluent) and natural gas liquids produced in western canada. we also own and operate gas gathering and processing facilities and an oil and natural gas liquids infrastructure and logistics business. with facilities strategically located in western canada and in natural gas liquids markets in eastern canada and the u.s., pembina also offers a full spectrum of midstream and marketing services that spans across its operations. our integrated assets and commercial operations enable us to offer services needed by the energy sector along the hydrocarbon value chain. pembina's experienced employees are committed to creating investor value through oper
