CO\'\ C0l..(j ~\ ~ '1?Q> g1{' -: ~ S """,;-=~ .~~t~ ". SIXTH FLOOR, 900 HOWE STREET, BOX 250 . '/ .. . . .. ,/.", ••••••••• •••••• VANCOUVER, B.C. V6Z 2N3 /~ CANADA /~S CO""~\ AN ORDER IN THE MATIER OF the Utilities Commission Act, S.B.C. 1980, c. 60, as amended An Application by BC Gas Utility Ltd. to issue additional Common Shares to BC Gas Inc. BEFORE: M.K. Jaccard, Chairperson; L.R. Barr, Deputy Chairperson; and) K.L. Hall, Commissioner ORDER WHEREAS: A. On March 7, 1995 BC Gas Utility Ltd. ("BC Gas") applied, pursuant to Section 57(2) of the Utilities Commission Act ("the Act") and Order No. G-45-93, for approval of the issuance of 2,23 1,633 Common Shares for the gross proceeds of $25,061,234.69 to BC Gas Inc., the parent company; and B. The issuance of the Common Shares is required in accordance with Commission Order No. G-45-93 which ordered that the utility "will maintain no less common and preferred equity than that determined from time to time by the Commission for rate making purposes"; and C. The Commission's Return on Equity Decision dated June 10, 1994 determined that the common equity component of BC Gas should be 33 percent of the capital structure for both 1994 and 1995; and D. The Commission has reviewed the Application and is satisfied that approval of the common equity share issue is necessary and in the public interest. The Commission considers that the number of shares issued is a shareholder concern and not the subject of this Commission approval. NOW THEREFORE the Commission approves, pursuant to Section 57(2) of the Act, the issuance of Common Share equity by BC Gas to BC Gas Inc. for the gross proceeds of $25,061,234.69 and net proceeds of not less than $23,857,000 (after deductions for actual allocated share issue expenses) to be issued before April 30, 1995. DATED at the City of Vancouver, in the Province of British Columbia, this Orders/BCG-CommonShareIssuance~ ~ ~ -+~ :y Z 0 -.. : .. ~~ r S ~ -J TELEPHONE: (604) 660-4700 ~ BC TOLL FREE: 1-800-663-1385 FACSIMILE: (604) 660-1102 ) March 23, 1995 ) day of March, 1995. BY ORDER Dr. Mark K. Jaccal'd Chairperson
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