Pembina Pipeline Announces No Conversion Of Series 1 Shares To Series 2 In December Due To Insufficient Tenders
Portfolio Pulse from Benzinga Newsdesk
Pembina Pipeline announced that there will be no conversion of Series 1 preferred shares to Series 2 shares in December due to insufficient tenders.
November 17, 2023 | 6:13 am
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NEUTRAL IMPACT
Pembina Pipeline's announcement indicates stability in its preferred share structure, as insufficient tenders mean no conversion from Series 1 to Series 2 shares.
The news about the non-conversion of shares is neutral as it indicates no significant change in the company's equity structure. However, it may slightly reassure investors who prefer the current dividend or conversion terms of Series 1 shares.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 100