{"id":9377,"date":"2010-01-12T19:44:10","date_gmt":"2010-01-12T23:44:10","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=9377"},"modified":"2010-01-12T19:44:10","modified_gmt":"2010-01-12T23:44:10","slug":"ungprc-and-ungprd","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=9377","title":{"rendered":"UNG.PR.C and UNG.PR.D"},"content":{"rendered":"<p>My heart sank as I began tracking down these guys in response to a query. Union Gas Limited is <a href=\"http:\/\/www.uniongas.com\/aboutus\/\">owned by Spectra Energy<\/a>, which I am sure is a very nice company, run by people who are kind to small fluffy animals, but is <a href=\"http:\/\/www.prefblog.com\/?p=705\">completely useless<\/a> at communicating with preferred shareholders of its subsidiaries.<\/p>\n<p>Union Gas still publishes audited financials on <a href=\"http:\/\/www.sedar.com\">SEDAR<\/a> and the 2008 Annual Report discloses:<br \/>\n<b>12. Mandatorily Redeemable Preference Shares<\/b><\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td>&nbsp;<\/td>\n<td>&nbsp;<\/td>\n<td colspan=\"2\">Outstanding<\/td>\n<td colspan=\"2\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td>Authorized<\/td>\n<td>Series<\/td>\n<td>2008<\/td>\n<td>2007<\/td>\n<td>2008<\/td>\n<td>2007<\/td>\n<\/tr>\n<tr>\n<td>(shares)<\/td>\n<td>&nbsp;<\/td>\n<td colspan=\"2\">(shares)<\/td>\n<td colspan=\"2\">($millions)<\/td>\n<\/tr>\n<tr>\n<td>Class A \u2013 112,072<\/td>\n<td>Series A, 5.5%<\/td>\n<td>47,672<\/td>\n<td>47,672<\/td>\n<td>3<\/td>\n<td>3<\/td>\n<\/tr>\n<tr>\n<td>&nbsp;<\/td>\n<td>Series C, 5.0%<\/td>\n<td>49,500<\/td>\n<td>49,500<\/td>\n<td>2<\/td>\n<td>2<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<blockquote><p>The Class A Preference Shares, Series A and C are cumulative and redeemable at $50.50 per share. The Company is obligated to offer to purchase $170,000 of Series A and $140,000 of Series C shares annually at the lowest price obtainable, but not exceeding $50 per share.<\/p><\/blockquote>\n<p>Any further information will have to come from Spectra!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>My heart sank as I began tracking down these guys in response to a query. Union Gas Limited is owned by Spectra Energy, which I am sure is a very nice company, run by people &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-9377","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/9377","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9377"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/9377\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}