B R IT I S H C O LU M B I A U T I L I T I E S C O M M I S S I O N O R D E R a N U M B E R G-119-96 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 IN THE MATTER OF the Utilities Commission Act, S.B.C. 1980, c. 60, as amended and An Application by Centra Gas Fort St. John Inc. for Approval of Issue Preferred Shares BEFORE: M.K. Jaccard, Chairperson; and ) L.R. Barr, Deputy Chairperson ) December 12, 1996 O R D E R WHEREAS: A. On September 14, 1995 the Commission, by Order No.ÊG-78-95, approved the disposition of utility assets by Centra Gas British Columbia Inc. and the issuance of common shares to establish separate utility companies for Fort St. John, Whistler and Port Alice, B.C.; and B. The capital structure of Centra Gas Fort St. John Inc. (ÒCentra GasÓ) required preferred shares to be reissued in order to preserve the existing capital structure of the Fort St. John utility; and C. On December 10, 1996 Centra Gas applied to the Commission to issue 2,308 new ClassÊB Preferred Shares with a par value of $25 per share and a dividend rate of 6.48 percent to Centra Gas Inc. effective January 1, 1997, pursuant to SectionÊ57 of the Utilities Commission Act (Òthe ActÓ); and D. The existing Preferred Shares issued to Centra Gas Inc. for the Fort St. John utility will be redeemed and cancelled; and E. The Commission has reviewed the share transaction and finds that approval is necessary and in the public interest. NOW THEREFORE pursuant to Section 57 of the Act, the Commission orders as follows: 1. The Commission approves the issuance by Centra Gas of 2,308 Class B Preferred Shares with a par value of $25 per share and a dividend rate of 6.48 percent to Centra Gas Inc., effective January 1, 1997. 2. Centra Gas is to file appropriate shareholder resolutions in a timely matter. DATED at the City of Vancouver, in the Province of British Columbia, this ÊÊÊÊÊ12thÊÊÊday of December, 1996. BY ORDER Original signed by: Dr.ÊMark K. Jaccard Chairperson Orders/CG-FSJ & Share Issue
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