Closing Expected as early as August 31, 2018

CALGARY, Alberta, (August 30, 2018) – Kinder Morgan Canada Limited (TSX: KML) today announced that KML shareholders have voted to approve the sale of the Trans Mountain Pipeline system and the Trans Mountain Expansion Project (TMEP) to the Government of Canada at a special meeting of shareholders held on August 30, 2018 in Calgary, Alberta.   

A total of 324,578,862 shares were voted in person and by proxy at the meeting, representing 87.70 percent of KML’s issued and outstanding shares entitled to vote.  A majority of not less than two-thirds of the votes cast by the company’s holders of restricted voting shares, special voting shares, preferred shares-series 1 and preferred shares-series 3, voting together as a single class, was required to approve the transaction.  Those voting in favor of the special resolution were 324,524,791, or 99.98 percent; while those voting against the special resolution were 54,071, or 0.02 percent.  

With that favorable vote, all conditions precedent to closing the transaction have been met, subject to receipt of all items required at closing.  Under the terms of the May 29, 2018 share and unit purchase agreement, the transaction must close seven business days after the satisfaction of the conditions precedent unless the parties agree to close earlier.  The parties expect to close the transaction as early as August 31, 2018. 

Read the full news release here.