Union Gas Limited Announces Redemption of Cumulative Redeemable Class A Preferred Shares, Series A, Series B and Series C

CHATHAM, ON, Oct. 30, 2018 /CNW/ - Union Gas Limited ("Union Gas") announced today that it will exercise its right to redeem all of its 47,672 outstanding 5.5% Cumulative Redeemable Class A Preferred Shares, Series A (the "Series A Shares") on Nov. 29, 2018 at the price of $50.50 per Series A Share plus $0.449 per share in accrued and unpaid dividends for the period Oct.1, 2018 to Nov. 29, 2018, for an aggregate total of approximately $2,426,548.

Union Gas also announced that it will exercise its right to redeem all of its 90,000 outstanding 6% Cumulative Redeemable Class A Preferred Shares, Series B (the "Series B Shares") on Nov. 29, 2018 at the price of $55.00 per Series B Share plus $0.487 per share in accrued and unpaid dividends for the period Oct. 1, 2018 to Nov. 29, 2018, for an aggregate total of approximately $4,993,830.

Union Gas further announced that it will exercise its right to redeem all of its 49,500 outstanding 5% Cumulative Redeemable Class A Preferred Shares, Series C (the "Series C Shares") on Nov. 29, 2018 at the price of $50.50 per Series C Share plus $0.406 per share in accrued and unpaid dividends for the period Oct. 1, 2018 to Nov. 29, 2018, for an aggregate total of approximately $2,519,847.

Beneficial holders who are not directly the registered holder of the Series A Shares, Series B Shares or Series C Shares should contact the financial institution, broker or other intermediary through which they hold these shares to confirm how they will receive their redemption proceeds. Enquiries should be directed to our Registrar and Transfer Agent, AST Trust Company (Canada), at 1-800-387-0825 (Canada and United States) or 1-416-682-3860 (Outside North America).

About Union Gas
Union Gas Limited is a major Canadian natural gas storage, transmission and distribution company based in Ontario with over 100 years of experience and service to customers. The distribution business serves about 1.5 million residential, commercial and industrial customers in more than 400 communities across Ontario. Union Gas' storage and transmission business offers a variety of storage and transportation services to customers at the Dawn Hub, the largest integrated underground storage facility in Canada and one of the largest in North America.  Union Gas, an Enbridge Company-one of Canada's Top 100 Employers for 2018-has assets of $8.9 billion and approximately 2,300 employees. For more information, visit uniongas.com or find us on Facebook: facebook.com/uniongas, LinkedIn:  linkedIn.com/uniongas, Twitter: twitter.com/uniongas and YouTube: youtube.com/user/uniongas.

CONTACT:
Andrea Stass
Manager, External Communications and Media Relations
Ph: 519 436-5490 or 1-800-571-8446 ext. 5005490
Cell: 519 365-1010
[email protected]

SOURCE Union Gas Limited