UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): June 4, 2020
ENBRIDGE INC.
(Exact Name of Registrant as Specified in Charter)
Canada | 001-15254 | 98-0377957 |
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
200, 425 - 1st Street S.W.
Calgary, Alberta, Canada T2P 3L8
(Address of Principal Executive Offices) (Zip Code)
1-403-231-3900
(Registrant’s telephone number, including area code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
Common Shares | ENB | New York Stock Exchange | ||
6.375% Fixed-to-Floating Rate Subordinated Notes Series 2018-B due 2078 | ENBA | New York Stock Exchange |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 4, 2020, the Board of Directors (the “Board”) of Enbridge Inc. (the “Corporation”), on the recommendation of its Governance Committee, appointed Stephen S. Poloz as a director of the Corporation, effective immediately, to serve until the next Annual Meeting of Shareholders of the Corporation in 2021.
Mr. Poloz will be subject to the Corporation’s existing arrangements relating to director compensation and indemnification, substantially as described in the Corporation’s Annual Report on Form 10-K/A filed with the Securities and Exchange Commission on March 9, 2020. On May 7, 2020, the Corporation announced cost reductions actions as part of a cost management program for 2020, which includes a reduction of 15% to Board compensation for 2020. There are no arrangements or understandings between Mr. Poloz and any other persons pursuant to which he was selected as a director, and there are no transactions in which Mr. Poloz has an interest required to be disclosed pursuant to Item 404(a) of Regulation S-K.
On June 4, 2020, the Corporation issued a press release announcing Mr. Poloz’s appointment to the Board, a copy of which is filed as Exhibit 99.1 to this Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit Number |
Description | |
99.1 | Press Release of Enbridge Inc., dated June 4, 2020. | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
ENBRIDGE INC.
(Registrant) |
||
Date: June 4, 2020 | By: | /s/ Karen K.L. Uehara |
Karen K.L. Uehara | ||
Vice President & Corporate Secretary | ||
(Duly Authorized Officer) |
Exhibit 99.1
NEWS RELEASE
Enbridge Appoints Stephen S. Poloz to its Board
CALGARY, Alberta, June 4, 2020 – Enbridge Inc. (TSX:ENB) (NYSE:ENB) is pleased to announce that its Board of Directors has appointed Stephen S. Poloz as a Director of Enbridge.
Mr. Poloz was Governor of the Bank of Canada from 2013 until the conclusion of his tenure on June 2, 2020. As Governor, he was also Chairman of the Board of Directors of the Bank of Canada and a member of the Board of Directors of the Bank for International Settlements. Mr. Poloz was President & CEO of Export Development Canada from 2011 to 2013.
"On behalf of the Board of Directors of Enbridge, we are very pleased to welcome Stephen to the Enbridge Board. He has extensive business and financial experience, as well as expertise in global economics and public policy. He will be an excellent addition to our Board and we look forward to his contributions” stated Greg Ebel, Chair of the Board of Directors.
About Enbridge Inc.
Enbridge Inc. is a leading North American energy infrastructure company. We safely and reliably deliver the energy people need and want to fuel quality of life. Our core businesses include Liquids Pipelines, which transports approximately 25 percent of the crude oil produced in North America; Gas Transmission and Midstream, which transports approximately 20 percent of the natural gas consumed in the U.S.; Gas Distribution and Storage, which serves approximately 3.8 million retail customers in Ontario and Quebec; and Renewable Power Generation, which generates approximately 1,750 MW of net renewable power in North America and Europe. The Company's common shares trade on the Toronto and New York stock exchanges under the symbol ENB. For more information, visit www.enbridge.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Media
Jesse Semko
Toll Free: (888) 992-0997
Email: media@enbridge.com
Investment
Community
Jonathan Morgan
Toll Free: (800) 481-2804
Email: investor.relations@enbridge.com