CALGARY, AB, Dec. 15, 2023 /CNW/ - Canadian Utilities Limited (TSX: CU) (TSX: CU.X)

Canadian Utilities Limited ("Canadian Utilities") is pleased to announce the completion of its previously announced exchange proposal to holders of Class B common shares ("Class B Shares") other than ATCO Ltd. and certain of its related parties (collectively, "ATCO"). The transaction was completed by way of a plan of arrangement under the Canada Business Corporations Act (the "Arrangement") following the receipt of a final order approving the Arrangement from the Court of King's Bench of Alberta and the approval by (i) holders of Class B Shares ("Class B Share Owners"), and (ii) Class B Share Owners other than ATCO ("Non-Controlling Class B Share Owners") at a special meeting of Class B Share Owners called to consider the Arrangement (the "Meeting").