Brookfield renews normal course issuer bid for 21 preferred series

By Mary-Katherine Stinson

Lexington, Ky., Aug. 18 – Brookfield Office Properties Inc. has received approval from the Toronto Stock Exchange for the renewal of its 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 that are listed on the Toronto Stock Exchange, according to a press release.

The normal course issuer bid will start Aug. 22 and run through Aug. 21, 2023.

Brookfield will pay the market price at the time of acquisition for any preferred shares purchased.

The issuer bid covers the following preferreds:

• Up to 1,022,018 of the 10,457,685 outstanding series 2 preferred shares (BAMPrB) with a limit of 1,319 shares per day;

• Up to 398,391 of the 3,995,910 outstanding series 4 preferred shares (BAMPrC) with a limit of 1,000 shares per day;

• Up to 332,049 of the 3,321,486 outstanding series 8 preferred shares (BAMPrE) with a limit of 1,000 shares per day;

• Up to 117,758 of the 4,670,680 outstanding series 9 preferred shares (BAMPrG) with a limit of 1,000 shares per day;

• Up to 879,260 of the 9,604,096 outstanding series 13 preferred shares (BAMPrK) with a limit of 1,265 shares per day;

• Up to 784,020 of the 7,840,204 outstanding series 17 preferred shares (BAMPrM) with a limit of 1,000 shares per day;

• Up to 768,109 of the 7,866,749 outstanding series 18 preferred shares (BAMPrN) with a limit of 1,079 shares per day;

• Up to 1,080,803 of the 10,808,027 outstanding series 24 preferred shares (BAMPrR) with a limit of 1,000 shares per day;

• Up to 977,093 of the 9,770,928 outstanding series 26 preferred shares (BAMPrT) with a limit of 1,863 shares per day;

• Up to 923,393 of the 9,233,927 outstanding series 28 preferred shares (BAMPrX) with a limit of 2,762 shares per day;

• Up to 978,709 of the 9,787,090 outstanding series 30 preferred shares (BAMPrZ) with a limit of 2,517 shares per day;

• Up to 1,175,030 of the 11,750,299 outstanding series 32 preferred shares (BAM.PF.A) with a limit of 2,309 shares per day;

• Up to 987,674 of the 9,876,735 outstanding series 34 preferred shares (BAM.PF.B) with a limit of 1,291 shares per day;

• Up to 784,291 of the outstanding 7,842,909 series 36 preferred shares (BAM.PF.C) with a limit of 1,000 shares per day;

• Up to 783,009 of the outstanding 7,830,091 series 37 preferred shares (BAM.PF.D) with a limit of 1.069 shares per day;

• Up to 790,613 of the outstanding 7,906,132 series 38 preferred shares (BAM.PF.E) with a limit of 1,000 shares per day;

• Up to 1,184,103 of the outstanding 11,841,025 series 40 preferred shares (BAM.PF.F) with a limit of 1,708 shares per day;

• Up to 1,188,750 of the outstanding 11,887,500 series 42 preferred shares (BAM.PF.G) with a limit of 1,000 shares per day;

• Up to 983,193 of the outstanding 9,831,929 series 44 preferred shares (BAM.PF.H) with a limit of 1,193 shares per day;

• Up to 1,174,080 of the outstanding 11,740,797 series 46 preferred shares (BAM.PF.I) with a limit of 1,831 shares per day; and

• Up to 1,188,597 of the outstanding 11,885,972 series 48 preferred shares (BAM.PF.J) with a limit of 1,510 shares per day.

Under stock exchange rules, any daily repurchases of the series 4, 8, 9, 17, 24, 36, 38 and 42 will be limited to 1,000 shares of the respective series. Each of the other series will be limited to 25% of the average daily trading volume.

Brookfield has not made any purchases of the preferred shares in the past 12 months.

Toronto-based Brookfield Office Properties is a subsidiary of Brookfield Property Partners that owns and operates office, retail, multifamily, industrial, hotel and lease assets.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.