TC Energy provides results of Series 7 Shares conversion elections
April 23 2024 - 7:30AM
– News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy
or the Company) today announced that 209,483 of its 24,000,000
fixed rate Cumulative Redeemable First Preferred Shares, Series 7
(Series 7 Shares) were deposited for conversion on April 30, 2024
on a one-for-one basis into floating rate Cumulative Redeemable
First Preferred Shares, Series 8 (Series 8 Shares).
As previously announced in our news release dated
April 1, 2024, the conversions are subject to the conditions that:
(i) if TC Energy determines that there would be less than one
million Series 7 Shares outstanding after April 30, 2024, then
all remaining Series 7 Shares will automatically be converted into
Series 8 Shares on a one-for-one basis on April 30, 2024; and (ii)
alternatively, if TC Energy determines that there would be less
than one million Series 8 Shares outstanding after April 30, 2024,
no Series 7 Shares will be converted into Series 8 Shares.
As the total number of Series 7 Shares tendered for
conversion did not meet the threshold set out above, no
Series 7 Shares will be converted into Series 8 Shares on
April 30, 2024.
For more information on the terms of, and risks
associated with an investment in the Series 7 Shares and the
Series 8 Shares, please see the Corporation’s prospectus
supplement dated Feb. 25, 2013, which is available on sedarplus.ca
or on our website.
About TC EnergyWe’re a team of
7,000+ energy problem solvers working to safely move, generate and
store the energy North America relies on. Today, we’re delivering
solutions to the world’s toughest energy challenges – from
innovating to deliver the natural gas that feeds LNG to global
markets, to working to reduce emissions from our assets, to
partnering with our neighbours, customers and governments to build
the energy system of the future. It’s all part of how we continue
to deliver sustainable returns for our investors and create value
for communities.
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.sedarplus.ca and with the U.S. Securities
and Exchange Commission at www.sec.gov.
-30-
Media Inquiries:Media
Relationsmedia@tcenergy.com 403-920-7859 or 800-608-7859
Investor & Analyst
Inquiries:Gavin Wylie / Hunter
Mauinvestor_relations@tcenergy.com403-920-7911 or 800-361-6522
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