PORT HURON, Mich., Aug 15, 2005 /PRNewswire-FirstCall via COMTEX/ -- SEMCO ENERGY, Inc.
(NYSE: SEN) announced today that all of the outstanding 10.25% Trust Preferred
Securities of SEMCO Capital Trust I will be redeemed on September 14, 2005, at
a redemption price of $25.00 per share, for a total principal payment of $30.0
million, plus accrued distributions through the redemption date. The proceeds
from the sale of the recently issued 4,945,000 shares of the Company's common
stock will be used to redeem the securities.
SEMCO ENERGY, Inc. distributes natural gas to more than 404,000 customers
combined in Michigan, as SEMCO ENERGY GAS COMPANY, and in Alaska, as ENSTAR
Natural Gas Company. It also owns and operates businesses involved in propane
distribution, intrastate pipelines and natural gas storage in various regions
of the United States.
The following is a "Safe-Harbor" statement under the Private Securities
Litigation Reform Act of 1995. This release contains forward-looking
statements that involve risks and uncertainties. Statements that are not
historic facts, including statements about the Company's outlook, beliefs,
plans, goals and expectations, are forward-looking statements. Factors that
may impact forward-looking statements include, but are not limited to, the
effects of weather, the economic climate, competition, commodity prices,
changing conditions in the capital markets, regulatory approval processes,
success in obtaining new business, success in defending claims against the
Company, and other risks detailed from time to time in the Company's
Securities and Exchange Commission filings.
SOURCE SEMCO ENERGY, Inc.
Thomas Connelly, Director of Investor Relations, 1-248-458-6163,
Media Contact: Timothy Lubbers, Director of Marketing & Corporate
both of SEMCO ENERGY, Inc.