Redemption of $150 Million ATCO Preferred Shares
18 Febbraio 2010 - 2:46PM
Marketwired
ATCO Ltd. (TSX: ACO.X)(TSX: ACO.Y) today announced it will redeem
on March 23, 2010 all of its outstanding 5.75% Cumulative
Redeemable Preferred Shares, Series 3 at a price of $25.586644
(representing the $25.00 designated capital of each share and a
prescribed premium of $0.50 per share plus $0.086644 of accrued and
unpaid dividends per share). The total cost of this redemption is
$153.5 million.
Shares TSX Stock Redemption Price
Shares Outstanding Symbol Per Share ($)
---------------- ----------------- ----------------- ----------------------
5.75% Series 3 6,000,000 ACO.PR.A 25.586644
These dividends are eligible dividends for Canadian income tax
purposes.
A formal notice and instructions for the redemption of the
Series 3 Preferred Shares will be sent to preferred shareholders in
accordance with the conditions attached to the Series 3 Preferred
Shares.
Alberta-based ATCO Ltd., with more than 7,500 employees and
assets of approximately $10.0 billion, delivers service excellence
and innovative business solutions worldwide with leading companies
engaged in Utilities (pipelines, natural gas and electricity
transmission and distribution), Energy (power generation, natural
gas gathering, processing, storage and liquid extraction),
Structures & Logistics (manufacturing, logistics and noise
abatement) and Technologies (business systems solutions). More
information can be found at www.atco.com.
Forward-Looking Information:
Certain statements contained in this news release may constitute
forward-looking statements. Forward-looking statements are often,
but not always, identified by the use of words such as
"anticipate", "plan", "expect", "may", "will", "intend", "should",
and similar expressions. These statements involve known and unknown
risks, uncertainties and other factors that may cause actual
results or events to differ materially from those anticipated in
such forward-looking statements. The Corporation believes that the
expectations reflected in the forward-looking statements are
reasonable, but no assurance can be given that these expectations
will prove to be correct and such forward-looking statements should
not be unduly relied upon.
The Corporation's actual results could differ materially from
those anticipated in these forward-looking statements as a result
of regulatory decisions, competitive factors in the industries in
which the Corporation operates, prevailing economic conditions, and
other factors, many of which are beyond the control of the
Corporation.
The forward-looking statements contained in this news release
represent the Corporation's expectations as of the date hereof, and
are subject to change after such date. The Corporation disclaims
any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise, except as required under applicable securities
regulations.
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Contacts: ATCO Ltd. B.R. (Brian) Bale Senior Vice President
& Chief Financial Officer (403) 292-7502
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