CALGARY, ALBERTA--(Marketwired - April 3, 2017) - AltaGas Ltd. ("AltaGas") (TSX:ALA) announced today it is initiating a simplified sale program for eligible holders of common shares of AltaGas. The program benefits shareholders who hold 99 or fewer shares (an "odd lot holding"), and want to sell their shares without paying brokerage commissions. Additionally, it provides a participant, who does not already have a brokerage account, with the ability to sell their shares without incurring the inconvenience of having to open a new account.
Registered and beneficial common shareholders of AltaGas who own an odd lot holding as of the record date of March 31, 2017 are able to participate. The program will run until June 30, 2017, unless otherwise extended, and will operate through the facilities of the Toronto Stock Exchange (TSX) in compliance with the TSX's policy of Odd Lot Selling and Purchase Arrangements. Holders of AltaGas subscription receipts are not eligible to participate in this program.
AltaGas has arranged for Computershare Investor Services Inc. (Computershare) to manage the program. Questions regarding the program should be directed to Computershare by calling toll free at 1-800-564-6253. An information booklet with details about how to participate in the program will be mailed to eligible shareholders and is available online at www.altagas.ca/invest/share-information.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in any jurisdiction. AltaGas is not offering to purchase common shares from participants. AltaGas is not making any recommendation as it relates to holding or selling common shares, and is not making any representation as to the price which may be realized on the sale of common shares under this program. Eligible shareholders may wish to obtain advice from their broker or financial advisor as to the advisability of participating. The tax consequences for each participant in the program may vary. AltaGas and Computershare make no representations with respect to the tax consequences for a particular participant. It is recommended that each odd lot shareholder consult their personal tax advisor as to the consequences to them of a sale under the program. Participation in the program is voluntary.
AltaGas is an energy infrastructure company with a focus on natural gas, power and regulated utilities. AltaGas creates value by acquiring, growing and optimizing its energy infrastructure, including a focus on clean energy sources. For more information visit: www.altagas.ca.
This news release contains forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to AltaGas or an affiliate of AltaGas, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, the program for shareholders with odd lot holdings to sell their shares, and the length of time such program will be offered. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect AltaGas' current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market competition, governmental or regulatory developments, general economic conditions and other factors set out in AltaGas' public disclosure documents. Many factors could cause AltaGas' actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release as intended, planned, anticipated, believed, sought, proposed, estimated or expected, and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. AltaGas does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.