Emera Welcomes Updates to Nova Scotia Legislation That Facilitates Future Growth and Helps Attract More
Capital to the Province
Today, the Government of Nova Scotia introduced amendments to the NS Power Privatization Act (1992) and the NS Power
Reorganization Act (1998) regarding share ownership of Emera Inc.
These amendments remove the current restriction preventing non-Canadian residents from holding more than 25 per cent of Emera
voting shares. 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.
"We are pleased that the Government of Nova Scotia is showing foresight and leadership in fostering continued economic growth in
the province,” says Scott Balfour, Emera's President and CEO. “The proposed update to the legislation gives Emera more funding
flexibility and levels the competitive playing field for us – allowing Emera to attract investment capital and help facilitate the
same opportunities for our growth that’s offered to industry players in other jurisdictions.”
Over the past 20 years, Emera has grown from a single utility into a $32 billion publicly traded North American energy leader
from its base in Nova Scotia. With 7500 employees serving 2.5 million customers in Canada, the U.S. and the Caribbean, Emera
delivered revenues of $6.5 billion in 2018.
“We are incredibly proud to be headquartered in Nova Scotia and to be part of the exciting growth that is happening in the
province,” says Balfour. “Nova Scotia is a great place to do business and Emera’s growth to date is evidence of that.”
By introducing this legislation, the government of Nova Scotia is recognizing Emera’s success and the value of its head office
commitment to Nova Scotia. Eliminating the shareholder restriction creates the opportunity for even more growth and value to the
province in the future.
Forward Looking Information
This news release contains forward‐looking information within the meaning of applicable securities laws. By its nature,
forward‐looking information requires Emera to make assumptions and is subject to inherent risks and uncertainties. These statements
reflect Emera management’s current beliefs and are based on information currently available to Emera management. There is a risk
that predictions, forecasts, conclusions and projections that constitute forward‐looking information will not prove to be accurate,
that Emera’s assumptions may not be correct and that actual results may differ materially from such forward‐looking information.
Additional detailed information about these assumptions, risks and uncertainties is included in Emera’s securities regulatory
filings, including under the heading “Enterprise Risk and Risk Management” in Emera’s annual Management’s Discussion and Analysis,
and under the heading “Principal Financial Risks and Uncertainties” in the notes to Emera’s annual financial statements, which can
be found on SEDAR at
www.sedar.com.
About Emera Inc.
Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with approximately $32
billion in assets and 2018 revenues of more than $6.5 billion. The company primarily invests in regulated electricity generation
and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon
energy sources. Emera has investments throughout North America, and in four Caribbean countries. Emera’s common and preferred
shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C,
EMA.PR.E, EMA.PR.F and EMA.PR.H. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange
under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional Information can be
accessed at
www.emera.com or at
www.sedar.com.
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Emera Inc.
Investor Relations:
Erin Power
902.428.6760
Or
Media:
Jeff Myrick
902-428-7172
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