05:47:22 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Brookfield Asset Management Inc
Symbol BAM
Shares Issued 987,136,394
Close 2016-06-29 C$ 42.92
Market Cap C$ 42,367,894,030
Recent Sedar Documents

Brookfield Asset holders to convert 1.53 million shares

2016-06-30 08:07 ET - News Release

Ms. Suzanne Fleming reports

BROOKFIELD ASSET MANAGEMENT ANNOUNCES RESULTS OF CONVERSION OF ITS SERIES 24 AND SERIES 25 PREFERRED SHARES

Brookfield Asset Management Inc. has released the results of the exercise of the conversion privilege for its Class A preference shares, Series 24, and its Class A preference shares, Series 25.

Holders of the company's Series 24 preferred shares and Series 25 preferred shares had the right to exchange their shares for the other series effective June 30, 2016, if they submitted an election to convert their shares on a one-for-one basis prior to June 15, 2016. Holders of 1,533,133 Series 24 preferred shares have elected to convert these shares into an equivalent number of Series 25 preferred shares.

These conversions will be effective on July 1, 2016. Following these conversions, there will be 9,436,867 Series 24 preferred shares and 1,533,133 Series 25 preferred shares issued and outstanding.

For the five years commencing July 1, 2016, the Series 24 preferred shares pay a fixed-rate dividend, if declared, at an annual rate of 3.014 per cent (18.8375 cents per share per quarter).

The Series 25 preferred shares pay a quarterly floating-rate dividend, if declared, calculated for each quarter, of 2.30 per cent over the annual yield on three-month government of Canada treasury bills. The actual quarterly dividend rate in respect of the July 1, 2016, to Sept. 30, 2016, dividend period for the Series 25 shares will be 0.71861 per cent (2.851 per cent on an annualized basis) and the dividend, if declared, for such dividend period will be 17.96525 cents per share, payable on Sept. 30, 2016.

Holders of the company's Series 24 and Series 25 preferred shares will again have the opportunity to convert their shares into the other series, effective June 30, 2021, and every five years thereafter.

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