TC Energy provides results of Series 11 Shares conversion elections
November 23 2020 - 12:30PM
News Release – TC Energy Corporation (TSX:TRP) (NYSE:TRP) (TC
Energy or the Corporation) announced today that 139,529 of its
10,000,000 fixed rate Cumulative Redeemable First Preferred Shares,
Series 11 (Series 11 Shares) were deposited for conversion on
November 30, 2020 on a one-for-one basis into floating rate
Cumulative Redeemable First Preferred Shares, Series 12 (Series 12
Shares).
As previously announced in our news release dated November 2,
2020, the conversions are subject to the conditions that: (i) if TC
Energy determines that there would be less than one million Series
11 Shares outstanding after November 30, 2020, then all remaining
Series 11 Shares will automatically be converted into Series 12
Shares on a one-for-one basis on November 30, 2020 and (ii)
alternatively, if TC Energy determines that there would be less
than one million Series 12 Shares outstanding after November 30,
2020, no Series 11 Shares will be converted into Series 12
Shares.
As the total number of Series 11 Shares tendered for conversion
did not meet the threshold set above, no Series 11 Shares will be
converted into Series 12 Shares on November 30, 2020.
For more information on the terms of, and risks associated with
an investment in the Series 11 Shares and the Series 12 Shares,
please see the Corporation’s prospectus supplement dated February
23, 2015 which is available on sedar.com or on our website.
About TC EnergyWe are a vital part of everyday
life — delivering the energy millions of people rely on to power
their lives in a sustainable way. Thanks to a safe, reliable
network of natural gas and crude oil pipelines, along with power
generation and storage facilities, wherever life happens — we’re
there. Guided by our core values of safety, responsibility,
collaboration and integrity, our more than 7,500 people make a
positive difference in the communities where we operate across
Canada, the U.S. and Mexico.
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 INFORMATIONThis 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.sedar.com and with the U.S. Securities and Exchange
Commission at www.sec.gov .
-30-
Media Inquiries:Jaimie Harding / Hejdi Carlsen
403-920-7859 or 800-608-7859
Investor & Analyst Inquiries:David Moneta /
Hunter Mau403-920-7911 or 800-361-6522
PDF
available: http://ml.globenewswire.com/Resource/Download/eadbbe30-36aa-4a01-9aa2-b0c10af54fae
TC Energy (TSX:TRP)
Historical Stock Chart
From Aug 2024 to Sep 2024
TC Energy (TSX:TRP)
Historical Stock Chart
From Sep 2023 to Sep 2024