CALGARY, Alberta, Nov. 17, 2018 /PRNewswire/ -- Pembina Pipeline
Corporation ("Pembina") (TSX: PPL; NYSE: PBA) announced today that
none of Pembina's Cumulative Redeemable Rate Reset Class A
Preferred Shares, Series 1 ("Series 1 Shares") will be converted
into Cumulative Redeemable Floating Rate Class A Preferred Shares,
Series 2 of Pembina ("Series 2 Shares") on December 1,
2018.
After taking into account all conversion notices received from
holders of its outstanding Series 1 Shares by the November 16,
2018 deadline for the conversion of the Series 1 Shares into
Series 2 Shares, less than the 1,000,000 Series 2 Shares required
to give effect to conversions into Series 2 Shares were tendered
for conversion.
About Pembina
Calgary-based Pembina Pipeline
Corporation is a leading transportation and midstream service
provider that has been serving North
America's energy industry for over 60 years. Pembina owns an
integrated system of pipelines that transport various hydrocarbon
liquids and natural gas products produced primarily in western
Canada. The Company also owns gas
gathering and processing facilities and an oil and natural gas
liquids infrastructure and logistics business. Pembina's integrated
assets and commercial operations along the majority of the
hydrocarbon value chain allow it to offer a full spectrum of
midstream and marketing services to the energy sector. Pembina is
committed to identifying additional opportunities to connect
hydrocarbon production to new demand locations through the
development of infrastructure that would extend Pembina's service
offering even further along the hydrocarbon value chain. These new
developments will contribute to ensuring that hydrocarbons produced
in the Western Canada Sedimentary Basin and the other basins where
Pembina operates can reach the highest value markets throughout the
world.
Pembina strives to provide sustainable, industry-leading total
returns for our investors; reliable and value-added services for
our customers; a net positive impact to communities; and a safe,
respectful, collaborative and fair work culture for our
employees.
Pembina's strategy is to:
- Preserve value by providing safe, environmentally
conscious, cost-effective and reliable services;
- Diversify by providing integrated solutions which
enhance profitability and customer service;
- Implement Growth by pursuing projects or assets that are
expected to generate cash flow per share accretion and capture
long-life, economic hydrocarbon reserves; and
- Secure Global Markets by understanding what the world
needs, where they need it, and delivering it.
Pembina is structured into three Divisions: Pipelines Division,
Facilities Division and Marketing & New Ventures Division.
Pembina's common shares trade on the Toronto and New
York stock exchanges under PPL and PBA, respectively. For
more information, visit www.pembina.com.
For further information: Investor Relations, Scott Arnold, (403) 231-3156, 1-855-880-7404,
e-mail: investor-relations@pembina.com, www.pembina.com