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Share Information
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Shares of Enbridge Income Fund Holdings (“EIFH”) are listed on the TSX and trade under the symbol ENF.TO. Approximately 80% of EIFH shares are widely held by institutional and retail investors and 20% are held by Enbridge Inc.
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Enbridge Inc. (TSX / NYSE: ENB) sponsors and indirectly manages EIFH. Enbridge holds interests in EIFH through publicly held EIFH shares and direct investments in EIFH subsidiaries (ENF units, and Preferred Shares (“ECT Preferred Shares”) of Enbridge Commercial Trust (“ECT”), a subsidiary entity of EIFH). The shares held by Enbridge are entitled to approximately 8% of the EIFH’s dividends and carry approximately 20% of the voting rights including one Special Voting Share with no dividend rights. Through EIFH share ownership and direct investment in EIFH subsidiaries, Enbridge receives approximately 68% of the EIFH’s distributable cash.
The following table sets out the capitalization of EIFH and the preferred share capitalization of ECT as at December 31, 2012:
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Holders |
Outstanding (Millions) |
% Entitlement to Distributions |
% of Votes |
Shares in EIFH |
Public |
41.4 |
32% |
80% |
Shares in EIFH |
Enbridge Inc. |
10.3 |
8% |
20% |
Investment in EIFH Subsidiaries |
Enbridge Inc. |
76.7 |
60% |
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100% |
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Shares in the Fund
The beneficial interests in EIFH are represented by 41,429,000 shares which are listed and publicly traded on the Toronto Stock Exchange. 10,294,000 shares are owned by Enbridge which are not listed. An unlimited number of shares may be issued and as at December 31, 2012, there were 51,723,000 shares outstanding.
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