07:22 AM EDT, 09/04/2024 (MT Newswires) -- AltaGas ( ATGFF ) overnight Tuesday said it does not intend to exercise its right to redeem any or all of its currently outstanding Cumulative Redeemable Five-Year Rate Reset Preferred Shares, Series G or the Cumulative Redeemable Floating Rate Preferred Shares, Series H on September 30, 2024.

As a result, it said in a statement, subject to certain conditions, the holders of the Series G Shares have the right to convert all or part of their Series G Shares on a one-for-one basis into Series H Shares on the Conversion Date. Holders who do not exercise their right to convert their Series G Shares into Series H Shares will, subject to automatic conversion in circumstances described, retain their Series G Shares, it added.

Also, on the Conversion Date the holders of the Series H Shares have the right to convert all or part of these shares on a one-for-one basis into Series G Shares. Holders who do not exercise their right to convert their Series H Shares into Series G Shares will, subject to automatic conversion in the circumstances described, retain their Series H Shares.