1. Enbridge announced no conversion of Series 15 Shares into Series 16 Shares. 2. Less than 1,000,000 Series 15 Shares were tendered for conversion. 3. Series 15 Shares will remain non-convertible as per recent developments. 4. Company continues to focus on sustainable energy and infrastructure investment. 5. Strong commitment to renewable technologies remains a focal point.
The lack of conversions indicates stable share structure, reducing potential volatility. Historical precedents show minimal immediate price fluctuations for similar announcements.
While the announcement affects immediate share structure, investor sentiment seems stable. The company's sustainable energy commitment may overshadow the lack of conversions.
The impact is likely to be immediate due to current market reactions. Longer-term effects depend on the company's overall performance and integration of new technologies.
CALGARY, AB, Aug. 18, 2025 /PRNewswire/ - Enbridge Inc. (TSX:ENB) (NYSE:ENB) (Enbridge) announced today that none of its outstanding Cumulative Redeemable Preference Shares, Series 15 (Series 15 Shares) will be converted into Cumulative Redeemable Preference Shares, Series 16 (Series 16 Shares) on September 1, 2025.
After taking into account all conversion notices received from holders of its outstanding Series 15 Shares by the August 18, 2025 deadline for the conversion of the Series 15 Shares into Series 16 Shares, less than the 1,000,000 Series 15 Shares required to give effect to conversions into Series 16 Shares were tendered for conversion.
About Enbridge Inc.
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.