AltaGas Announces Intention to Redeem All Outstanding Series I Preferred Shares
CALGARY, AB, Nov. 20, 2020 – AltaGas Ltd. (“AltaGas” or the “Company”) (TSX: ALA) announces its intention to redeem – in accordance with the terms of the Cumulative Redeemable 5-Year Minimum Rate Reset Preferred Shares, Series I (the “Series I Shares”) as set out in the Company’s articles – all of its 8,000,000 issued and outstanding Series I Shares on December 31, 2020 (the “Redemption Date”) for a redemption price equal to $25.00 per Series I Share, together with all accrued and unpaid dividends to, but excluding, the Redemption Date (the “Redemption Price”), less any tax required to be deducted or withheld by the Company.
As previously announced, the Company’s Board of Directors has declared a dividend of $0.328125 per Series I Share for the period commencing September 30, 2020 and ending December 30, 2020 payable to holders of record as of the close of business on December 15, 2020. This will be the final quarterly dividend on the Series I Shares, although holders will receive on redemption of the Series I Shares all accrued and unpaid dividends up to but excluding the Redemption Date.
The Company has provided notice today of the Redemption Price and the Redemption Date to the sole registered holder of the Series I Shares in accordance with the terms of the Series I Shares as set out in the Company’s articles. Non-registered holders of Series I Shares should contact their broker or other intermediary for information regarding the redemption process for the Series I Shares in which they hold a beneficial interest. The Company’s transfer agent for the Series I Shares is Computershare Investor Services Inc. Questions regarding the redemption process may be directed to Computershare Investor Services Inc. at 1-800-564-6253 or by email to [email protected]
AltaGas is a leading North American energy infrastructure company that connects NGLs and natural gas to domestic and global markets. The company operates a diversified, low-risk, high-growth Utilities and Midstream business that is focused on delivering resilient and durable value for its stakeholders. For more information visit www.altagas.ca or reach out to: