Brookfield Asset Management Announces Normal Course Issuer Bid

April 24, 2013

On April 19, 2013, Brookfield Asset Management (NYSE: BAM, TSX: BAM.A) announced that it had received approval from the Toronto Stock Exchange for a normal course issuer bid to purchase up to 53,571,157 of its Class A Limited Voting Shares, or 10% of the public float of outstanding Class A Limited Voting Shares, at market price.

On April 19, 2013, Brookfield Asset Management (NYSE: BAM, TSX: BAM.A) announced that it had received approval from the Toronto Stock Exchange for a normal course issuer bid to purchase up to 53,571,157 of its Class A Limited Voting Shares, or 10% of the public float of outstanding Class A Limited Voting Shares, at market price.  The bid period will extend from April 23, 2013 to April 22, 2014, unless Brookfield completes its purchases at an earlier date.  Pursuant to TSX rules, the maximum daily purchase will be 195,080 shares, representing 25% of the average daily trading volume for Class A Limited Voting Shares for the 6 month period ending March 31, 2013.  All Class A Limited Voting Shares purchased by Brookfield will be cancelled.

Under its current normal course issuer bid, ending April 22, 2013, Brookfield has purchased 2,004,122 Class A Limited Voting Shares through open market purchases on the NYSE, at an average price of $36.26 per share.  Brookfield is renewing its normal course issuer bid because it believes that the market price of the Class A Limited Voting Shares does not consistently reflect the value of its business.

 

To read the press release, please click here.


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Investment Manager Financings, Transactions