Emera Incorporated Announces Results of Series A First Preferred Share Conversions and Listing of Series B First Preferred Shares
HALIFAX, Nova Scotia—- Emera Incorporated (“Emera” or the “Company”) (TSX:EMA) announced today that 2,135,364 of its 6,000,000 issued and outstanding Cumulative 5-Year Rate Reset First Preferred Shares, Series A (the “Series A Shares”) were tendered for conversion, on a one-for-one basis into Cumulative Floating Rate First Preferred Shares, Series B (the “Series B Shares”). As a result of the conversion, Emera has 3,864,636 Series A Shares and 2,135,364 Series B Shares issued and outstanding. The Series A Shares will continue to be listed on the Toronto Stock Exchange (TSX) under the symbol EMA.PR.A. The Series B Shares will begin trading on the TSX today under the symbol EMA.PR.B.
Forward Looking Information
This news release contains forward-looking information with respect to Emera, the Series A Shares and the Series B Shares. By its nature, forward-looking information requires Emera to make assumptions and is subject to inherent risks and uncertainties. There is risk that predictions, forecasts, conclusions and projections that constitute forward-looking information will not prove to be accurate, that Emera’s assumptions may not be correct and that actual results may differ materially from such forward-looking information. Detailed information about these assumptions, risks and uncertainties is included in Emera’s securities regulatory filings, which can be found on SEDAR at www.sedar.com.
Emera is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia with approximately $10 billion in assets and 2014 revenues of $2.97 billion. The Company invests in electricity generation, transmission and distribution, as well as gas transmission and utility energy services. Emera’s strategy is focused on the transformation of the electricity industry to cleaner generation and the delivery of that clean energy to market. Emera has investments throughout northeastern North America, and in four Caribbean countries. Emera continues to target having 75-85% of its adjusted earnings come from rate-regulated businesses. Emera common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, and EMA.PR.F. Additional Information can be accessed at www.emera.com or at www.sedar.com.
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Scott LaFleur, 902-428-6375
Acting Manager, Investor Relations
Neera Ritcey, 902-223-2272
Manager, Corporate Communications