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Bulletin de la Bourse
South Bow Corporation (SOBO) inscrit à la Bourse de Toronto
1 octobre 2024
| Issuer: | South Bow Corporation ("South Bow") |
| Security: | Common Shares ("South Bow Shares") |
| Symbol: | SOBO |
| When Issued Market - Original Listing: | The South Bow Shares will be posted for trading on a "when issued" basis at the opening on September 25, 2024. |
| Number of securities issued and outstanding: | Up to 207,519,031 |
| Number of securities reserved for issuance: | Up to 1,167,167 |
| Listing category: | Industrial, Exempt |
| Trading currency: | CDN$ |
| Transaction: | As described in today's TSX Bulletins regarding TC Energy Corporation ("TC") (Symbol: TRP), holders of TC common shares ("TC Shares") of record as of the close of business on September 25, 2024 (the "Record Date") will receive 0.2 of a South Bow Share for each TC Share held pursuant to a plan of arrangement (the "Arrangement"). |
| Posted for trading date: | September 25, 2024 (at the opening) on a "when issued" basis. |
| Other markets: | None |
| Payable date: | October 1, 2024 Holders of TC Shares need not take any action in order to receive the South Bow Shares to which they are entitled. |
| Designated market maker: | Citadel Securities Canada ULC |
| Investor relations: | Martha Wilmot Director, Investor Relations 403-920-4402 martha.wilmot@southbow.com and Van Dafoe Senior Vice-President and Chief Financial Officer 587-318-6497 van.dafoe@southbow.com |
| Incorporation: | Canada Business Corporations Act |
| Fiscal year end: | December 31 |
| Nature of business: | South Bow's business consists of crude oil pipeline and terminal assets that transport crude oil primarily from the Western Canadian Sedimentary Basin and Cushing market hub to the U.S. Midwest and Gulf Coast. South Bow also offers ancillary services including storage at terminals and conducts marketing activities through a non-regulated marketing entity. |
| Transfer agent and registrar: | Computershare Investor Services Inc., at its principal offices in Calgary and Toronto. |
| Dividends: | South Bow intends to declare a dividend for the quarter ended December 31, 2024 on or about November 7, 2024, subject to the discretion and approval of its Board of Directors. |
| Sponsorship: | Not applicable |
| Settlement of When Issued trading: | Subject to the Arrangement becoming effective as anticipated on October 1, 2024, all trades in the when issued market from and including September 25, 2024 (at the opening) to and including October 1, 2024 (at the close) will be for special settlement on October 3, 2024 and will appear on the Settlement Report from CDS Clearing and Depository Services Inc. Parties who hold South Bow Shares (or who are entitled to receive South Bow Shares under a legally binding unconditional contract) on the record date may sell, in the when issued market, South Bow Shares, up to the number of South Bow Shares they would receive upon the completion of the Arrangement, without being subject to restrictions on short sales. TSX will not be liable directly or indirectly for any loss attributable to the exercise of any of its above-described rights or to the cancellation, settlement or failed settlement of any trade or trades made in the South Bow Shares. |
| Termination of When Issued trading: | If the Arrangement becomes effective on October 1, 2024 as is currently anticipated, then: (i) on October 1, 2024 (at the close), trading of the South Bow Shares on a "when issued" basis will end; and (ii) on October 2, 2024 (at the opening) the South Bow Shares will commence trading on a regular basis under the same stock symbol and the same CUSIP number described above. If the Arrangement does not become effective, all trades in the South Bow Shares will be cancelled. No securities will be delivered or deliverable and no money will be owed by purchasers to sellers. |
| Disclosure documents: | TC's management information circular dated April 10, 2024 (the "Circular") and TC's press release dated September 9, 2024, which are available at www.sedarplus.ca. Capitalized terms not otherwise defined herein are as defined in the Circular. |
| Additional information: | See elsewhere in today's TSX Bulletins regarding the distribution of the South Bow Shares and "due bill" trading of the TC Shares and the ex-distribution market for TC Shares. |
| TSX contact: | Anne Child, Managing Director, TSX Listings. |