1. Enbridge will not convert Series 13 Shares into Series 14 Shares. 2. Less than 1,000,000 Series 13 Shares were tendered for conversion. 3. The company continues to invest in modern energy infrastructure. 4. Enbridge focuses on hydrogen and renewable energy technologies. 5. ENB maintains strong operations in natural gas, oil, and renewable power.
The decision not to convert shares indicates lack of demand but does not change Enbridge's business fundamentals, as evidenced in similar scenarios where lack of conversions have not impacted stock performance significantly.
The lack of conversion could be seen as a sign of investor sentiment. However, overall corporate strategies and market presence suggest ST stability.
This news is beneficial for understanding short-term investor sentiment but has limited direct impact on long-term growth trajectories, similar to previous announcements where immediate trading sentiment shifted but did not affect overall market performance.
CALGARY, AB, May 20, 2025 /PRNewswire/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge) announced today that none of its outstanding Cumulative Redeemable Preference Shares, Series 13 (Series 13 Shares) will be converted into Cumulative Redeemable Preference Shares, Series 14 (Series 14 Shares) on June 1, 2025.
After taking into account all conversion notices received from holders of its outstanding Series 13 Shares by the May 20, 2025 deadline for the conversion of the Series 13 Shares into Series 14 Shares, less than the 1,000,000 Series 13 Shares required to give effect to conversions into Series 14 Shares were tendered for conversion.
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.