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Pembina & Veresen Announce Common Shareholder Election Deadline of 5:00 p.m. (Mountain Time) on September 20, 2017
Pembina & Veresen Announce Common Shareholder Election Deadline of 5:00 p.m. (Mountain...
About this update from Pembina Pipeline Corporation
[{"type":"text","content":"\n\n\n\nPembina & Veresen Announce Common Shareholder Election Deadline of 5:00 p.m. (Mountain Time) on September 20, 2017\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\nPembina & Veresen Announce Common Shareholder Election Deadline of 5:00 p.m. (Mountain Time) on September 20, 2017\nCanada NewsWire\nCALGARY, Sept. 5, 2017\n\n\n\nCALGARY, Sept. 5, 2017 /CNW/ - Pembina Pipeline Corporation (TSX: PPL; NYSE: PBA) (\"Pembina\") and Veresen Inc. (TSX: VSN) (\"Veresen\") have announced that the deadline for Veresen common shareholders (\"Shareholders\") to elect to receive either Pembina common shares or cash pursuant to the previously announced plan of arrangement (the \"Arrangement\") is 5:00 p.m. (Mountain Time) on September 20, 2017 (the \"Election Deadline\"). \n\nShareholders may elect to receive either 0.4287 of a common share of Pembina (the \"Share Consideration\") or $18.65 in cash (the \"Cash Consideration\") for each of their Veresen common shares pursuant to the Arrangement. Shareholders may only elect to receive either the Share Consideration or the Cash Consideration for all of their common shares; Shareholders may not elect to receive a combination of the Share Consideration and the Cash Consideration. However, any election by a Shareholder is subject to pro-ration and rounding, and therefore Shareholders may ultimately receive a combination of cash and Pembina common shares by operation of the pro-ration provisions of the Arrangement as described in the Management Information Circular of Veresen dated June 5, 2017 (the \"Circular\"). Pursuant to the terms of the Arrangement, consideration to be received by Shareholders is subject to pro-ration based on maximum Share Consideration of 99.5 million Pembina common shares and maximum Cash Consideration of approximately $1.523 billion. Assuming full pro-ration, each Veresen shareholder would receive (i) cash in an amount equal to $4.8494 multiplied by the number of Veresen common shares held by the shareholder, and (ii) 0.3172 of a common share of Pembina multiplied by the number of Veresen common sha...