Emera Shareholders Approve Special Resolution Removing Share Restrictions for Non-Canadian Residents
HALIFAX, Nova Scotia—- At a special meeting held today, Emera Inc. (TSX:EMA) shareholders voted to amend the company’s articles of association and remove the restrictions preventing non-Canadian residents from holding or voting more than 25 per cent of the company’s voting shares.
Emera believes the removal of this restriction is positive news for shareholders. Emera anticipates this change will improve its ability to attract capital to fund our growth by removing barriers for investors, including global fund managers, whose investment decisions previously may have been influenced by the restrictions.
This amendment follows changes made by the Nova Scotia legislature in April which removed the non-Canadian resident restriction from specific legislative acts governing Emera. The legislation retains the existing restriction of any one shareholder holding more than 15 per cent of voting shares and reinforces Emera’s existing commitment to maintain its head office in Nova Scotia.
Ken McOnie, 902-428-6945