BROOKFIELD, NEWS–(Marketwired – June 30, 2016) – Brookfield Asset Management Inc. (TSX:BAM.A)(NYSE:BAM)(EURONEXT:BAMA) today announced that, in connection with its previously announced normal course issuer bid to purchase up to 10% of the public float of each series of the company’s outstanding Class A Preference Shares, excluding the Series 14 Class A Preference Shares, that are listed on the TSX (the “Preferred Shares”), it will enter into an automatic purchase plan with its designated broker. The plan will allow for purchases of Preferred Shares when the company ordinarily would not be active in the market due to its own internal trading black-out period, insider trading rules or otherwise.
Under its normal course issuer bid for Preferred Shares which expires on August 11, 2016, the company is authorized to purchase each respective series of the Preferred Shares as follows:
| Series | Ticker | Issued and Outstanding Shares |
Public Float | Average Daily Trading Volume |
Maximum Number of Shares Subject to Purchase |
|||||||
| Total | Daily | |||||||||||
| Series 2 | BAM.PR.B | 10,465,100 | 10,227,590 | 7,753 | 1,022,759 | 1,938 | ||||||
| Series 4 | BAM.PR.C | 4,000,000 | 3,988,000 | 4,523 | 398,800 | 1,130 | ||||||
| Series 8 | BAM.PR.E | 1,652,394 | 1,651,394 | 1,124 | 165,139 | 1,000 | ||||||
| Series 9 | BAM.PR.G | 6,347,606 | 2,854,506 | 1,106 | 285, 450 | 1,000 | ||||||
| Series 13 | BAM.PR.K | 9,999,000 | 8,800,200 | 4,744 | 880,020 | 1,186 | ||||||
| Series 17 | BAM.PR.M | 8,000,000 | 8,000,000 | 5,514 | 800,000 | 1,378 | ||||||
| Series 18 | BAM.PR.N | 8,000,000 | 7,814,339 | 5,740 | 781,433 | 1,435 | ||||||
| Series 24 | BAM.PR.R | 11,000,000 | 11,000,000 | 12,308 | 1,100,000 | 3,077 | ||||||
| Series 26 | BAM.PR.T | 10,000,000 | 10,000,000 | 10,712 | 1,000,000 | 2,678 | ||||||
| Series 28 | BAM.PR.X | 9,400,000 | 9,400,000 | 11,311 | 940,000 | 2,827 | ||||||
| Series 30 | BAM.PR.Z | 10,000,000 | 10,000,000 | 10,578 | 1,000,000 | 2,644 | ||||||
| Series 32 | BAM.PF.A | 12,000,000 | 12,000,000 | 8,718 | 1,200,000 | 2,179 | ||||||
| Series 34 | BAM.PF.B | 10,000,000 | 10,000,000 | 8,007 | 1,000,000 | 2,001 | ||||||
| Series 36 | BAM.PF.C | 8,000,000 | 8,000,000 | 9,759 | 800,000 | 2,439 | ||||||
| Series 37 | BAM.PF.D | 8,000,000 | 8,000,000 | 9,748 | 800,000 | 2,437 | ||||||
| Series 38 | BAM.PF.E | 8,000,000 | 8,000,000 | 4,856 | 800,000 | 1,214 | ||||||
| Series 40 | BAM.PF.F | 12,000,000 | 12,000,000 | 9,356 | 1,200,000 | 2,339 | ||||||
| Series 42 | BAM.PF.G | 12,000,000 | 12,000,000 | 11,343 | 1,200,000 | 2,835 | ||||||
| 1. | Calculated as at July 31, 2015. |
| 2. | Calculated for the six months prior to July 31, 2015. |
| 3. | In accordance with TSX rules, any daily repurchases with respect to: (i) the Series 8 and Series 9 Preferred Shares would be limited to 1,000 shares of the respective series and (ii) each of the other series of Preferred Shares (excluding the Series 8 and Series 9 Preferred Shares) would be limited to 25% of the average daily trading volume on the TSX of the respective series. |
Brookfield Asset Management
Brookfield Asset Management Inc. is a global alternative asset manager with $240 billion in assets under management. The company has more than a 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity. Brookfield offers a range of public and private investment products and services, and is co-listed on the New York, Toronto and Euronext stock exchanges under the symbol BAM, BAM.A and BAMA, respectively.
Forward-Looking Statements
Note: This press release contains forward-looking information within the meaning of Canadian provincial securities laws and other “forward looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Words such as “propose” and “believe,” conditional verbs such as “will” and “may,” and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify forward-looking statements. Forward-looking information in this news release includes statements with regards to potential future purchases by Brookfield Asset Management of its Class A Preference Shares under its normal course issuer bid and automatic purchase plan. Although Brookfield Asset Management believes that the anticipated future results or achievements expressed or implied by the forward-looking statements and information is based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information. Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include: general economic conditions; interest rate changes; availability of equity and debt financing; the performance of the Class A Preference Shares or the stock exchanges generally; and other risks and factors described from time to time in the documents filed by the company with the securities regulators in Canada and the United States including in Management’s Discussion and Analysis under the heading “Operating Capabilities, Environment and Risks”. The company undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.
Suzanne Fleming
Communications & Media
(212) 417-2421
Suzanne.fleming@brookfield.com
Brookfield Asset Management Inc.
Linda Northwood
Investor Relations
(416) 359-8647
Linda.northwood@brookfield.com
www.brookfield.com