Brookfield Asset Management Ltd | 5.00% Cumulative Class A Preference Shares, Series 21 (BAM.PRO.CA)
Prospectus excerpt: The Series 21 Preferred Shares will not be convertible at the option of the company prior to June 30, 2013. On or after this date, the company may, subject to applicable law and other regulatory approvals, and upon notice, convert all, or from time to time any part, of the then outstanding Series 21 Preferred Shares into that number of Class A Limited Voting Shares determined (per Series 21 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 $2.00 or 95% of the weighted average trading price of such Class A Limited Voting Shares on the TSX for the period of 20 consecutive trading days ending on the fourth day prior to the date specified for conversion or, if that fourth day is not a trading day, on the trading day immediately preceding such fourth day (the “Current Market Price”). Fractional Class A Limited Voting Shares will not be issued on any conversion of Series 21 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 $2.00 or 95% of the weighted average trading price of such Class A Limited Voting Shares on the TSX for the period of 20 consecutive trading days ending on the fourth day prior to the date specified for conversion or, if that fourth day is not a trading day, on the trading day immediately preceding such fourth day (the “Current Market Price”). Fractional Class A Limited Voting Shares will not be issued on any conversion of Series 21 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.