BAM.A Brookfield Asset Management Inc

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION TO THE
UNITED STATES 


Brookfield Asset Management Inc. (TSX:BAM.A)(NYSE:BAM)(EURONEXT:BAMA) today
advised that, in connection with its recently-announced public offering of
7,000,000 Preferred Shares, Series 30, the underwriters have exercised their
option (the "Underwriters' Option") to purchase an additional 3,000,000
Preferred Shares, Series 30 at a price of $25.00 per share. Brookfield Asset
Management Inc. will receive additional gross proceeds of CDN$75,000,000 from
the exercise of the Underwriters' Option, increasing the total size of the
offering to CDN$250,000,000. Closing of the Underwriters' Option is expected to
occur contemporaneously with the closing of the public offering on or about
November 2, 2011. 


Holders of the Preferred Shares, Series 30 will be entitled to receive a
cumulative quarterly fixed dividend yielding 4.80% annually for the initial
period ending December 31, 2017. Thereafter, the dividend rate will be reset
every five years at a rate equal to the 5-year Government of Canada bond yield
plus 2.96%.


Holders of Preferred Shares, Series 30 will have the right, at their option, to
convert their shares into cumulative Preferred Shares, Series 31, subject to
certain conditions, on December 31, 2017 and on December 31 every five years
thereafter. Holders of the Preferred Shares, Series 31 will be entitled to
receive cumulative quarterly floating dividends at a rate equal to the
three-month Government of Canada Treasury Bill yield plus 2.96%.


The Preferred Shares will be offered in all provinces of Canada by way of a
supplement to Brookfield Asset Management Inc.'s existing short form base shelf
prospectus dated June 7, 2011.


The net proceeds of the issue will be used for general corporate purposes. The
preferred shares may not be offered or sold in the United States or to U.S.
persons absent registration or an applicable exemption from the registration
requirements under the U.S. Securities Act.


About Brookfield Asset Management 

Brookfield Asset Management Inc. is a global alternative asset manager with
approximately $150 billion in assets under management. It has over a 100-year
history of owning and operating assets with a focus on real estate,
infrastructure, power and private equity. It has a range of public and private
investment products and services, which leverage its expertise and experience
and provide it with a distinct competitive advantage in the markets where it
operates. Brookfield is co-listed on the New York and Toronto Stock Exchanges
under the symbol BAM and on NYSE Euronext under the symbol BAMA. For more
information, please visit our web site at www.brookfield.com.


Forward-Looking Statements

Note: This news release contains forward-looking information within the meaning
of Canadian provincial securities laws and "forward-looking statements" within
the meaning of Section 27A of the U.S. Securities Act of 1933, as amended,
Section 21E of the U.S. Securities Exchange Act of 1934, as amended, "safe
harbor" provisions of the United States Private Securities Litigation Reform Act
of 1995 and in any applicable Canadian securities regulations. The words "will",
derivations thereof and other expressions that are predictions of or indicate
future events, trends or prospects and which do not relate to historical matters
identify forward-looking statements. Forward-looking statements in this news
release include statements in regards to the issuance of the preferred shares
and the use of proceeds of such issuance. Although Brookfield Asset Management
believes that such forward-looking statements and information are based upon
reasonable assumptions and expectations, the reader should not place undue
reliance on forward-looking statements and information as such statements and
information 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: economic and
financial conditions in the countries in which we do business; the behaviour of
financial markets, including fluctuations in interest and exchange rates;
availability of equity and debt financing; conditions to closing in the
underwriting agreement; and other risks and factors detailed from time to time
in the company's form 40-F filed with the Securities and Exchange Commission as
well as other documents filed by the company with the securities regulators in
Canada and the United States including the company's most recent Management's
Discussion and Analysis of Financial Results under the heading "Business
Environment and Risks."


We caution that the foregoing list of factors that may affect future results is
not exhaustive. When relying on our forward-looking statements to make decisions
with respect to Brookfield Asset Management, investors and others should
carefully consider the foregoing factors and other uncertainties and potential
events. Except as required by law, the company undertakes no obligation to
publicly update or revise any forward-looking statements or information, whether
written or oral, as a result of new information, future events or otherwise.

Brookfield Asset Managem... (TSX:BAM.A)
Historical Stock Chart
Von Jun 2024 bis Jul 2024

Brookfield Asset Managem... (TSX:BAM.A)
Historical Stock Chart
Von Jul 2023 bis Jul 2024