2000 News Releases

Maine PUC Approves Emera-Bangor Hydro Merger
BANGOR, Maine, December 19, 2000, (BGR- NYSE; EMA-TSE): The merger of Bangor Hydro-Electric Company (NYSE: BGR) and Emera Inc. (TSE: EMA) cleared a major hurdle earlier than expected Monday, when the Maine Public Utilities Commission approved the transaction. The deal will see Emera acquire all of the outstanding common stock of Bangor Hydro for $205 million U.S, and was approved by BGR shareholders in October.
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Emera Reports Increased Earnings to September 30, 2000
HALIFAX, Nova Scotia, November 10, 2000, (EMA-TSE): Emera Inc.'s consolidated earnings increased to $74.8 million for the nine months ended September 30, 2000, up from $72.0 million during the same period last year. Year to date earnings per share were $0.86, compared to $0.83 in 1999. Earnings for the three months ended September 30, 2000, were $4.9 million, or $0.06 per share, compared with $9.0 million, or $0.11 per share for the three months ended September 30, 1999.
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NSPI Approves Series D Preferred Share Dividend
Halifax, NS: The Board of Directors of Nova Scotia Power Inc. today approved a dividend of $0.30712 per Nova Scotia Power Incorporated Series D First Preferred Share for the period ending December 31, 2000 payable on and after January 15, 2001 to Series D preferred shareholders of record December 29, 2000.
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NSPI Closes $135,000,000 Preferred Share Offering
HALIFAX, Nova Scotia, October 31, 2000: Nova Scotia Power Incorporated ("NSPI") announced today that it has closed its public offering of 5,400,000 15-year cumulative redeemable 5.90% First Preferred Shares, Series D for gross proceeds to the company of $135,000,000. The offering was underwritten by a syndicate led by Scotia Capital Inc. and including CIBC World Markets Inc., TD Securities Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc. and RBC Dominion Securities Inc.
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Emera Names Ron Smith as Chief Financial Officer
HALIFAX, Nova Scotia, October 11, 2000, (EMA-TSE): David Mann, Chief Executive Officer of Emera Inc., today introduced Ron Smith, FCA, as Emera’s Senior Vice-President and Chief Financial Officer.
“We are excited to have Ron join the Emera team,” said Mr. Mann. “In addition to his broad financial and capital markets expertise, he brings an expert knowledge of regulated utility environments, and invaluable experience in leading organizations through periods of growth and change.”
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NSP 15-Year Cumulative Redeemable Preferred Shares
Nova Scotia Power Incorporated ("NSPI") announced today that it has entered into a C$125 million "bought deal" for a 15-year cumulative redeemable preferred share financing with an underwriting syndicate led by Scotia Capital Inc. and including CIBC World Markets Inc., TD Securities Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc. and RBC Dominion Securities Inc. NSPI has also granted to the underwriters an option to purchase an additional C$10 million of preferred shares on the same terms.
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Emera Approves Quarterly Dividend
Halifax, NS: The Board of Directors of Emera Inc. today approved a quarterly dividend of $0.21 per common share. The dividend is payable on and after November 15, 2000 to common shareholders of record at the close of business on October 31, 2000.
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NSPI Approves Preferred Share Quarterly Dividends
Halifax, NS: The Board of Directors of Nova Scotia Power Inc. today approved a quarterly dividend of $0.01 per Nova Scotia Power Incorporated Series B First Preferred Share for the quarter ending December 31, 2000 payable on and after January 1, 2001 to Series B preferred shareholders of record December 18, 2000
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Emera Fuels Launched
Halifax, Nova Scotia, August 15, 2000 (EMA - TSE) - The Emera name will soon appear on fuel trucks in Nova Scotia and New Brunswick. A group of five fuel companies, owned by Emera but operating under a variety of names, will be known as Emera Fuels. Emera Fuels offers a range of fuel products and services to residential and business customers. The launch of Emera Fuels supports Emera's strategy of becoming the customer's choice in energy and services.
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Emera Inc. Second Quarter 2000 Earnings Solid
HALIFAX, Nova Scotia, August 10, 2000, (EMA-TSE): Solid performance in its core electric business, growth in other energy product lines, and further expansion in the U.S. marketplace contributed to a satisfying second quarter 2000 for Emera Inc.
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Regulatory Process Begins: Emera-Bangor Hydro Deal
BANGOR, Maine (August 8, 2000) - Emera Inc. (TSE - EMA), formerly N.S. Power Holdings Inc., and Bangor Hydro-Electric Company (NYSE - BGR) jointly filed a petition with the Maine Public Utilities Commission (MPUC) today seeking approval of Emera's proposed acquisition of all of Bangor Hydro's outstanding common stock. On June 30, 2000, the companies announced that Emera had agreed to purchase those shares for US$26.50 per share in cash.
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NS Power Holdings Inc. Now Emera Inc.
HALIFAX, Nova Scotia, July 17, 2000, (EMA-TSE): NS Power Holdings Inc. has changed its name to Emera Inc. Emera is now listed on the Toronto Stock Exchange, and is trading under the symbol EMA. Before the name and symbol change, the Company had been trading under the symbol NSH.
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