Pursuant to the Arrangement, KML has been amalgamated with a wholly-owned subsidiary of Pembina and the outstanding KML preferred shares have been exchanged for Pembina preferred shares with substantially the same terms and conditions. Dividends on the newly issued Pembina preferred shares will continue to be paid on the 15th day of February, May, August and November in each year, if, as and when declared by Pembina's board of directors.
Forms of letter of transmittal pursuant to which registered restricted voting and preferred shareholders of KML can submit their share certificates in order to receive the applicable Pembina shares under the Arrangement were mailed to all such registered shareholders, and are available under KML's profile at www.sedar.com. Restricted voting and preferred shareholders of KML who hold their shares through a broker are not required to submit a letter of transmittal; rather they will receive the applicable Pembina shares through their brokerage account.
The KML restricted voting shares and preferred shares will be delisted from the
J.P. Morgan served as financial advisor to KML in the transaction.
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