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Algonquin Power & Utilities Corp. Announces Results of Exercise of Conversion Rights of Cumulative 5-Year Rate Reset Preferred Shares, Series A
Algonquin Power & Utilities Corp. Announces Results of Exercise of Conversion Rights o...
About this update from Algonquin Power & Utilities Corp.
[{"type":"text","content":"\n\n\n\nAlgonquin Power & Utilities Corp. Announces Results of Exercise of Conversion Rights of Cumulative 5-Year Rate Reset Preferred Shares, Series A\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nAlgonquin Power & Utilities Corp. Announces Results of Exercise of Conversion Rights of Cumulative 5-Year Rate Reset Preferred Shares, Series A\nCanada NewsWire\nOAKVILLE, ON, Dec. 21, 2018\n\n\n\nOAKVILLE, ON, Dec. 21, 2018 /CNW/ - Further to the press releases of Algonquin Power & Utilities Corp. (TSX/NYSE: AQN, AQN.PR.A) (\"APUC\" or the \"Company\") dated November 28, 2018 and December 3, 2018, APUC announced today that none of its outstanding 4,800,000 Cumulative 5-Year Rate Reset Preferred Shares, Series A (the \"Series A Preferred Shares\") will be converted on December 31, 2018 into Cumulative Floating Rate Preferred Shares, Series B (the \"Series B Preferred Shares\") of the Company. During the conversion notice period which ran from December 3, 2018 to December 17, 2018, less than 1,000,000 Series A Preferred Shares were tendered for conversion into Series B Preferred Shares. As per the terms and conditions of the Series A Preferred Shares described in the short form prospectus dated November 2, 2012 relating to the issuance of Series A Preferred Shares, since there would remain outstanding on December 31, 2018, after having taken into account all Series A Preferred Shares tendered for conversion into Series B Preferred Shares, less than 1,000,000 Series B Preferred Shares, holders of Series A Preferred Shares who tendered their Series A Preferred Shares for conversion will not be entitled to convert their Series A Preferred Shares into Series B Preferred Shares. As a result, Series B Preferred Shares will not be issued at this time.\nAll dollar amounts referenced herein are in U.S. dollars unless otherwise noted.\nAbout Algonquin Power & Utilities Corp.\nAPUC is a diversified generation, transmission and distribution utility with approximately $9 billion of total assets. Through its two business groups, APUC provides rate regulated natura...