SAN DIEGO, Jan. 5, 2007 (PRIME NEWSWIRE) -- Sempra Energy (NYSE:SRE) today announced that, to reduce costs, the company voluntarily is withdrawing the listing of its common stock and subsidiaries Southern California Gas Co. and Pacific Enterprises, their preferred stocks, on NYSE Arca, Inc., formerly the Pacific Stock Exchange.
Sempra Energy's common stock will continue to be listed and traded on the New York Stock Exchange. Pacific Enterprises' preferred stock will continue to be listed and traded on the American Stock Exchange. Southern California Gas Co. intends to apply to list its preferred stock for trading on the American Stock Exchange.
The Pacific Enterprises stocks affected are as follows: $4.36 Preferred (PET A); $4.40 Preferred (PET B); $4.50 Preferred (PET C); and $4.75 Preferred (PET D). The affected Southern California Gas Co. stock is 6% Series A Preferred (SOCGP).
The withdrawal of listings should be effective within the next 30 days.
Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2005 revenues of $11.7 billion. The Sempra Energy companies' 14,000 employees serve more than 29 million consumers in the United States, Europe, Canada, Mexico, South America and Asia.
This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When the company uses words like "believes," "expects," "anticipates," "intends," "plans," "estimates," "may," "would," "should" or similar expressions, or when the company discusses its strategy or plans, the company is making forward-looking statements. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Forward-looking statements are necessarily based upon various assumptions involving judgments with respect to the future and other risks, including, among others: local, regional, national and international economic, competitive, political, legislative and regulatory conditions and developments; actions by the California Public Utilities Commission, the California State Legislature, the California Department of Water Resources, the Federal Energy Regulatory Commission and other regulatory bodies in the United States and other countries; capital markets conditions, inflation rates, interest rates and exchange rates; energy and trading markets, including the timing and extent of changes in commodity prices; the availability of natural gas and liquefied natural gas; weather conditions and conservation efforts; war and terrorist attacks; business, regulatory, environmental, and legal decisions and requirements; the status of deregulation of retail natural gas and electricity delivery; the timing and success of business development efforts; the resolution of litigation; and other uncertainties, all of which are difficult to predict and many of which are beyond the control of the company.
These risks and uncertainties are further discussed in the company's reports filed with the Securities and Exchange Commission that are available through the EDGAR system without charge at its Web site, www.sec.gov and on the company's Web site, www.sempra.com.