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Enbridge Income Fund Holdings Inc. to Hold a Special Meeting of Shareholders on November 6

October 29, 2018

CALGARY, Oct. 29, 2018 /CNW/ - Enbridge Income Fund Holdings Inc. (TSX: ENF) (ENF or the Company) will hold a special meeting (Special Meeting) of ENF shareholders on November 6, 2018 in Calgary, Alberta.  At the Special Meeting, shareholders will be asked to vote on a proposal (the Proposed Arrangement) from Enbridge Inc. (Enbridge) to acquire all of the outstanding ENF shares not already owned by Enbridge, resulting in ENF becoming a wholly-owned subsidiary of Enbridge.

Special Meeting of Shareholders


November 6, 2018

10:00 a.m. MT (12:00 p.m. ET)


Metropolitan Conference Centre

333- 4th Avenue S.W., Lecture Theatre

Calgary, Alberta

Two leading independent proxy advisory firms, Glass, Lewis & Co., LLC and Institutional Shareholder Services Inc. (ISS), have both recommended that ENF shareholders vote in favor of the Proposed Arrangement.

Shareholders of record as of the close of business on October 5, 2018 will be entitled to vote at the Special Meeting. The Company encourages shareholders to vote as soon as possible and no later than 10:00 am. (Calgary time) on Friday, November 2, 2018 to ensure their votes are counted. Copies of the Notice of Special Meeting, the Management Information Circular and related documents are available on the Company's website at www.enbridgeincomefund.com and have been filed under ENF's profile on SEDAR at www.sedar.com.

Shareholders who have questions or require assistance in voting their proxy may direct their inquiry to the proxy solicitation agent, D.F. King Canada, by calling toll free in North America at 1-866-521-4425 (1-212-771-1133 by collect call) or by email at inquiries@dfking.com.

Live Audio Webcast

Enbridge will host a live audio webcast of the Special Meeting on November 6, 2018 at 10:00 a.m. Mountain Time (12:00 p.m. Eastern Time). Analysts, members of the media and other interested parties can access the call toll free at (877) 930-8043 or within and outside North America at (253) 336-7522 using the access code of 1499766#.

A webcast replay will be available on the Company's website approximately two hours after conclusion of the Special Meeting. An Mp3 and transcript will follow shortly thereafter. The replay will be available for seven days after the call toll-free (855) 859-2056 or within and outside North America at (404) 537-3406 (access code 1499766#).

Tax Election

The Proposed Arrangement has been structured to provide Canadian ENF shareholders with an automatic tax deferral with respect to their Share Consideration or they can elect to file a Section 85 Election to obtain a full tax deferral, on the Share Consideration and the Cash Component. It is not expected that the incremental gain that could be deferred by filing a Section 85 Election will be significant for most Canadian ENF shareholders. Eligible Canadian resident registered ENF shareholders who wish to make an election under section 85 of the Income Tax Act (Canada) in connection with the Proposed Arrangement must complete, sign and return the Letter of Transmittal indicating that they wish to make such an election, along with the share certificate(s) representing their ENF shares, to AST Trust Company (Canada) (the Depositary) prior to 5:00 p.m. (Calgary time) on November 6, 2018 (the Election Deadline).

Beneficial ENF shareholders that do not have their ENF shares registered in their name (rather, such ENF shares are registered in the name of a broker or other intermediary) should contact their broker or other intermediary for instructions and assistance regarding the timing of, and their eligibility to make, the Section 85 Election in respect of their ENF shares. Every broker and other intermediary has its own procedures with respect to the Section 85 Election and may have a deadline that is earlier than the Election Deadline. ENF shareholders are directed to the "About Enbridge Acquisition FAQs" on the ENF website for more information at www.enbridgeincomefund.com.


Forward-looking information, or forward-looking statements, has been included in this news release to provide information about the Company, including management's assessment of future plans and operations of the Company. This information may not be appropriate for other purposes. Forward-looking statements are typically identified by words such as "anticipate", "expect", "project", "estimate", "forecast", "plan", "intend", "target", "believe", "likely" and similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information or statements included or incorporated by reference in this document include, but are not limited to, the holding of the Special Meeting and the completion of the Proposed Arrangement.

Although the Company believes these forward-looking statements are reasonable based on the information available on the date such statements are made and processes used to prepare the information, such statements are not guarantees of future events and readers are cautioned against placing undue reliance on forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause the time and dates of the Special Meeting and the Proposed Arrangement to differ materially from those expressed or implied by such statements. Material assumptions include assumptions about the satisfaction of all conditions to the Special Meeting and the Proposed Arrangement and receipt of all necessary approvals. 

The Company's forward-looking statements are subject to risks and uncertainties pertaining to the Special Meeting and the closing of the Proposed Arrangement.  The impact of any one risk, uncertainty or factor on a particular forward-looking statement is not determinable with certainty as these are interdependent and the Company's future course of action depends on management's assessment of all information available at the relevant time. Except to the extent required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statements made in this news release or otherwise, whether as a result of new information, future events or otherwise. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on the Company's behalf, are expressly qualified in their entirety by these cautionary statements.


Enbridge Income Fund Holdings Inc., through its investment in the Fund, indirectly holds high quality, low-risk energy infrastructure assets. The Fund's assets consist of a portfolio of Canadian liquids transportation and storage businesses, including the Canadian Mainline, the Regional Oil Sands System, the Canadian segment of the Southern Lights Pipeline, Class A units entitling the holder to receive defined cash flows from the United States segment of the Southern Lights Pipeline, a 50 percent interest in the Alliance Pipeline, which transports natural gas from Canada to the United States, and interests in more than 1,400 megawatts of renewable and alternative power generation assets. Enbridge Income Fund Holdings Inc. is a publicly traded corporation on the Toronto stock exchange under the symbol ENF; information about the Company is available on the Company's website at www.enbridgeincomefund.com.

None of the information contained in, or connected to, the Company's website is incorporated in or otherwise forms part of this news release.



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SOURCE Enbridge Income Fund Holdings Inc.