Business News • MarketWire • Brookfield Asset Management Announces Renewal of Normal Course Issuer Bid |
Brookfield Asset Management Announces Renewal of Normal Course Issuer Bid |
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Brookfield Asset Management Announces Renewal of Normal Course Issuer Bid
TORONTO, ONTARIO--(Marketwired - April 21, 2014) - Brookfield Asset Management Inc. (NYSE:BAM)(TSX:BAM.A)(EURONEXT:BAMA) today announced that it has received approval from the Toronto Stock Exchange ("TSX") for its proposed normal course issuer bid to purchase up to 53,516,925 Class A Limited Voting Shares ("Class A Shares"), representing 10% of the public float of Brookfield's outstanding Class A Shares. Purchases under the bid will be made through the facilities of the TSX, the New York Stock Exchange ("NYSE") and any alternative Canadian trading platform. The period of the normal course issuer bid will extend from April 23, 2014 to April 22, 2015, or an earlier date should Brookfield complete its purchases. Brookfield will pay the market price at the time of acquisition for any Class A Shares purchased. All Class A Shares acquired by Brookfield under this bid will be cancelled and/or purchased by a non-independent trustee pursuant to a long-term incentive plan.
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