Brookfield Asset Management Ltd | 4.75% Cumulative Class A Preference Shares, Series 18 (BAM.PRN.CA)
Prospectus excerpt: The Series 18 Preferred Shares are not convertible at the option of Brookfield Asset Management prior to June 30, 2012. On or after this date, the company may, subject to applicable law and, if required, other regulatory approval, convert all, or from time to time any part, of the outstanding Series 18 Preferred Shares into that number of Class A Limited Voting Shares determined (per Series 18 Preferred Share) by dividing the then applicable redemption price, together with all accrued and unpaid dividends up to but excluding the date fixed for conversion, by the greater of C$2.00 or 95% of the weighted average trading price of the Class A Limited Voting Shares on the Toronto Stock Exchange for the 20 consecutive trading days ending on: (i) the fourth day prior to the date specified for conversion, or (ii) if such fourth day is not a trading day, the immediately preceding trading day (the "Current Market Price"). Fractional Class A Limited Voting Shares will not be issued on any conversion of Series 18 Preferred Shares, but in lieu thereof the company will make cash payments.
Determined by dividing the then applicable redemption price, together with all accrued and unpaid dividends up to but excluding the date fixed for conversion, by the greater of C$2.00 or 95% of the weighted average trading price of the Class A Limited Voting Shares on the Toronto Stock Exchange for the 20 consecutive trading days ending on: (i) the fourth day prior to the date specified for conversion, or (ii) if such fourth day is not a trading day, the immediately preceding trading day. Fractional Class A Limited Voting Shares will not be issued on any conversion of Series 18 Preferred Shares, but in lieu thereof the company will make cash payments.
Brookfield Asset Management is an alternative asset manager, with assets under management across renewable power and transition, infrastructure, private equity, real estate and credit. Co. focuses on real assets and essential service businesses.