Pembina Pipeline Corporation ("Pembina") (PPL; NYSE: PBA) announced that none of Pembina's Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 1 ("Series 1 Shares") (TSX: PPL.PR.A) will be converted into Cumulative Redeemable Floating Rate Class A Preferred Shares, Series 2 of Pembina ("Series 2 Shares") on December 1, 2023.
After taking into account all the conversion notices received from holders of its outstanding Series 1 Shares by the November 16, 2023 deadline for the conversion of the Series 1 Shares into Series 2 Shares, less than the 1,000,000 Series 1 Shares required to give effect to conversions into Series 2 Shares were tendered for conversion.
