SIXTH FLOOR, 900 HOWE STREET, BOX 250 TELEPHONE: (604) 660-4700 VANCOUVER, B.C. V6Z 2N3 BC TOLL FREE: 1-800-663-1385 CANADA FACSIMILE: (604) 660-1102 AN ORDER IN THE MAT IER OF the Utilities Commission Act, S.B.C. 1980, c. 60, as amended and An Application by Pacific Northern Gas Ltd. BEFORE: M.K. Jaccard, Chairperson ) F.C. Leighton; Commissioner, and ) July 14, 1993 E.C. Sleath, Commissioner ) WHEREAS: A. On July 12, 1993 Pacific Northern Gas Ltd. ("PNG") applied to the Commission for approval pursuant to Section 57(2) of the Utilities Commission Act (lithe Act") to issue Oass A and B Common Shares consequent with a two-for-one split of PNG's existing common shares; and B. The application to issue 1,711,980 Oass A and 10,000 Oass B Common Shares are as a result of approval given by the Board of Directors to a two -for-one stock split of the existing Common Shares of the Company; and C. The stock split of PNG's Common Shares will have no impact on the ownership of the Company's voting shares and will increase the liquidity of the publicly traded common shares; and D. The Commission has reviewed the Application and is satisfied that approval is necessary and in the public interest NOW THEREFORE the Commission orders as follows: Pursuant to Section 57(2) of the Act, the PNG Application to issue 1,711,980 Class A and 10,000 Class B Common Shares is approved. DA TED at the City of Vancouver, in the Province of British Columbia, this day of July, 1993. BY ORDER \ l' ยป \ Dr. Mark K. Ja&ard Chairperson BCUC/Order/PNG-ShareSplit
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