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SoCalGas Urges Shareholders to Vote FOR Retirement of All Outstanding Shares of Preferred Stock at a Premium

SRE
  • SoCalGas announced a Special Meeting of Shareholders scheduled for July 13, 2026, with a record date of May 18, 2026.
  • The company seeks shareholder approval to retire all outstanding shares of its 6% Preferred Stock (par value $25.00) 6% Preferred Stock Series A (par value $25.00).
  • Retired shares will be exchanged for a cash payment of $31.00 per share plus accrued unpaid dividends up to the retirement date.
  • The $31.00 cash payment represents a premium of more than 20% over recent market prices, estimated fair value, par value of the shares.
  • SoCalGas filed a preliminary proxy statement with the SEC on May 4, 2026, expects to file the definitive proxy statement around May 19, 2026.
  • The transaction aims to simplify SoCalGas' capital structure deliver immediate value to shareholders as part of business modernization efforts.
  • SoCalGas urges preferred shareholders to vote "FOR" the proposal, with proxy materials available on its website.
  • Proxy Information Administrator D.F. King & Co., Inc. is available to assist shareholders with voting questions via phone or email.
  • SoCalGas is a subsidiary of Sempra (NYSE: SRE) serves over 21 million consumers across Central Southern California.
  • The press release includes forward-looking statements warnings that actual results may differ due to risks uncertainties regarding regulatory approvals market conditions transaction costs.