ATCO Ltd.
TSX : ACO.X
TSX : ACO.Y

ATCO Ltd.

September 13, 2013 18:02 ET

ATCO Ltd. Advises of a Change in Percentage Ownership of Canadian Utilities Limited Class B Common Shares

CALGARY, ALBERTA--(Marketwired - Sept. 13, 2013) - ATCO Ltd. (TSX:ACO.X) (TSX:ACO.Y) advised today that the percentage of outstanding Class B common shares of Canadian Utilities Limited (TSX:CU) (TSX:CU.X) held by ATCO has increased from 82.0% at January 4, 2011, the date of ATCO's last National Instrument 62-103 filing, to 88.1%. The percentage increase was caused by third parties converting Class B Shares into Class A non-voting shares of Canadian Utilities Limited. The Canadian Utilities Limited Class B Shares are convertible into Class A Shares on a one-for-one basis at the option of the holders. The increase in ATCO's percentage ownership of the Class B Shares was not the result of any action taken by ATCO or Canadian Utilities Limited. This news release is issued pursuant to technical disclosure requirements under applicable securities laws as a result of the change in ATCO's security holding percentage described above.

Following the Class B Share conversions, and after giving effect to the two-for-one share split of the Class B Shares in June 2013, ATCO currently owns 66,309,246 Class B Shares (88.1% of the Class B Shares).

ATCO Ltd., with more than 9,400 employees and assets of approximately $15 billion, delivers service excellence and innovative business solutions worldwide with leading companies engaged in structures & logistics (manufacturing, logistics and noise abatement), utilities (pipelines, natural gas and electricity transmission and distribution), energy (power generation, natural gas gathering, processing, storage and liquids extraction) and technologies (business systems solutions). More information can be found at www.atco.com.

Forward-Looking Information:

Certain statements contained in this news release may constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "plan", "expect", "may", "will", "intend", "should", and similar expressions. 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. The Corporation believes that the expectations reflected in the forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.

The Corporation's actual results could differ materially from those anticipated in these forward-looking statements as a result of regulatory decisions, competitive factors in the industries in which the Corporation operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Corporation.

The forward-looking statements contained in this news release represent the Corporation's expectations as of the date hereof, and are subject to change after such date. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

Contact Information

  • ATCO Ltd.
    B.R. (Brian) Bale
    Senior Vice President & Chief Financial Officer
    (403) 292-7502
    www.atco.com