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Nova Scotia Legislature Approves Removal of Legislative Restriction on Non-Canadian Resident Ownership of Emera Shares

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HALIFAX, Nova Scotia–(BUSINESS WIRE)– Late on Thursday, April 11, 2019, the Nova Scotia Legislature passed Bill 135, amending the NS Power Privatization Act (1992) and the NS Power Reorganization Act (1998). These amendments were introduced by the Government of Nova Scotia on April 3, 2019.

Upon receipt of Royal Assent, Bill 135 removes the legislative restriction preventing non-Canadian residents from holding more than 25 per cent of Emera’s voting shares, in aggregate. This would enable Emera to amend its articles of association to remove this restriction by approval of a special resolution of its shareholders.

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