PNM Resources(US:PNM) Prnewswireยท2024-07-22 10:30Core Viewpoint - PNM Resources, Inc. will change its holding company name to TXNM Energy, Inc., effective August 2, 2024, reflecting its evolving business profile and growth in Texas [1][3]. Company Overview - PNM Resources is an energy holding company based in Albuquerque, New Mexico, with consolidated operating revenues of $1.9 billion in 2023 [6]. - The company provides electricity to over 800,000 homes and businesses in New Mexico and Texas through its regulated utilities, PNM and TNMP [6]. - PNM has a generation capacity of 3.1 gigawatts and aims for 100% emissions-free generation by 2040 [6]. Shareholder Approval and Transition - The name change was overwhelmingly approved by shareholders at the annual meeting on June 4, 2024, and by the Board of Directors [2]. - There are no significant structural or organizational impacts associated with the name change, and shareholders do not need to take any action [5]. Operational Details - The new ticker symbol "TXNM" will be used starting August 5, 2024, with the website redirecting from www.pnmresources.com to www.txnmenergy.com [1][5]. - All outstanding shares of PNM Resources will automatically convert to TXNM Energy shares, with no change to the CUSIP number [5].