Nasdaq GlobeNewswire

Brookfield Asset Management Announces Renewal of Normal Course Issuer Bid

Del

TORONTO, May 18, 2018 (GLOBE NEWSWIRE) -- Brookfield Asset Management Inc. (NYSE:BAM) (TSX:BAM.A) (EURONEXT:BAMA) ("Brookfield") today announced it has received approval from the Toronto Stock Exchange ("TSX") for the renewal of its normal course issuer bid to purchase up to 82,315,909 Class A Limited Voting Shares ("Class A Shares"), representing 10% of the public float of Brookfield's outstanding Class A Shares. Purchases under the bid will be made through the facilities of the TSX, the New York Stock Exchange ("NYSE") and any alternative Canadian trading system. The period of the normal course issuer bid will extend from May 24, 2018 to May 23, 2019, or an earlier date should Brookfield complete its purchases. Brookfield will pay the market price at the time of acquisition for any Class A Shares purchased. 

As at May 1, 2018, the number of Class A Shares issued and outstanding totalled 991,857,711, of which 823,159,095 shares represented the public float. In accordance with the rules of the TSX, the maximum daily purchase on the TSX under this bid will be 243,569 Class A Shares, which is 25% of 974,277 (the average daily trading volume for Class A Shares on the TSX for the six months ended April 30, 2018).

Of the 82,965,721 Class A Shares approved for purchase under Brookfield's prior normal course issuer bid that commenced on May 24, 2017 and will expire on May 23, 2018, Brookfield purchased 2,041,064 Class A Shares through open market purchases on the TSX and 4,082,000 Class A Shares through open market purchases on the NYSE. The weighted average price that Brookfield paid per Class A Share acquired under this bid was US$40.57.

Brookfield is renewing its normal course issuer bid because it believes that, from time to time, the market price of its Class A Shares may not fully reflect the underlying value of its business and its future business prospects. Brookfield believes that, in such circumstances, the outstanding Class A Shares represent an attractive investment for Brookfield, since a portion of its excess cash generated on an annual basis can be invested for an attractive risk adjusted return through the issuer bid. All Class A Shares acquired by Brookfield under this bid will be cancelled and/or purchased by a non-independent trustee pursuant to the terms of Brookfield's Escrowed Stock Plan.

Brookfield will enter into an automatic purchase plan on or about the week of June 25, 2018 in relation to the normal course issuer bid. The automatic purchase plan will allow for the purchase of Class A Shares, subject to certain trading parameters, at times when Brookfield ordinarily would not be active in the market due to its own internal trading black-out period, insider trading rules or otherwise. Outside of these periods, Class A Shares will be repurchased in accordance with management's discretion and in compliance with applicable law.

Brookfield Asset Management
Brookfield Asset Management Inc. is a leading global alternative asset manager with approximately US$285 billion in assets under management. The Company has more than a 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity. Brookfield offers a range of public and private investment products and services, and is co-listed on the New York, Toronto and Euronext stock exchanges under the symbol BAM, BAM.A and BAMA, respectively.

For more information, please visit our website at www.brookfield.com or contact: 

     
Claire Holland
Communications & Media
Tel: (416) 369-8236
Email: claire.holland@brookfield.com
  Linda Northwood
Investor Relations
Tel: (416) 359-8647
Email: linda.northwood@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 "proposed", "believe", conditional verbs such as "will", "may" and 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 information in this news release includes statements with regards to potential future purchases by Brookfield of its Class A Shares pursuant to the company's normal course issuer bid and automatic purchase plan. Although Brookfield believes that the anticipated future results or achievements expressed or implied by the forward-looking statements and information is based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they 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: general economic conditions; interest rate changes; availability of equity and debt financing; the performance of the Class A Shares or the stock exchanges generally; and other risks and factors described from time to time in the documents filed by the company with the securities regulators in Canada and the United States including in Management's Discussion and Analysis under the heading "Business Environment and Risks". The company undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Brookfield Asset Management Inc via Globenewswire

Om Nasdaq GlobeNewswire

Nasdaq GlobeNewswire
Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

+1 212 401 8700http://www.nasdaqomx.com

NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.

Følg saker fra Nasdaq GlobeNewswire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Nasdaq GlobeNewswire

WillScot Announces Closing of Warrant Exchange Offer11.12.2018 22:05Pressemelding

BALTIMORE, Dec. 11, 2018 (GLOBE NEWSWIRE) -- WillScot Corporation (“WillScot”) (NASDAQ: WSC), the specialty rental services market leader providing innovative modular space and portable storage solutions across North America, today announced the closing of its previously announced exchange offer (the “Exchange Offer”) relating to certain outstanding warrants issued in 2015 (the “Warrants”). Under the terms of the Exchange Offer, each Warrant holder had the opportunity to receive 0.18182 shares of WillScot Class A Common Stock, par value $0.0001 per share (“Common Stock”), for each Warrant tendered by the holder and exchanged pursuant to the Exchange Offer. As of the closing of the Exchange Offer on December 11, 2018, 45,131,827 outstanding Warrants were properly tendered and not withdrawn in the Exchange Offer. 45,031,827 of the Warrants tendered were public warrants, representing approximately 89% of the public warrants, and approximately 100,000 Warrants tendered were private warrant

DoubleVerify and InMobi Unite to Combat Mobile App Fraud11.12.2018 18:02Pressemelding

Partnership brings mobile app fraud prevention to advertisers globally NEW YORK, Dec. 11, 2018 (GLOBE NEWSWIRE) -- DoubleVerify ("DV"), the leading independent provider of marketing measurement software and analytics, today announced a partnership with InMobi, a global provider of enterprise platforms for marketers. As part of the partnership, DoubleVerify will provide always-on fraud filtering and measurement for mobile in-app advertising campaigns across the InMobi Exchange globally. The integration with InMobi covers pre-bid targeting for all InMobi Exchange impressions within the leading mobile in-app platform, as well as monitoring of post-bid fraud activity, such as spoofing – enabling InMobi to continuously refine the quality of its mobile ad inventory. “DV’s partnership with InMobi demonstrates our commitment to provide consistent, comprehensive quality coverage for global brand advertisers,” said Matt McLaughlin, COO at DoubleVerify. “With ad spend increasingly concentrated in

Claroty Announces Major Enhancements to Market-Leading Industrial Cybersecurity Platform11.12.2018 15:00Pressemelding

Groundbreaking multispectral data acquisition and network segmentation capabilities provide deeper OT network visibility and reduce risk for industrial enterprises and critical infrastructure providers NEW YORK, Dec. 11, 2018 (GLOBE NEWSWIRE) -- Claroty, the leader in operational technology (OT) network protection, today announced several significant enhancements to its award-winning Continuous Threat Detection product and technology integrations with several leading industrial automation, network infrastructure and cybersecurity providers. Already the industry’s most complete industrial control systems (ICS) cybersecurity platform, this release incorporates new functionality to provide even more “extreme” visibility into ICS networks and help industrial enterprises decrease the risk of a cyberattack. The latest release of Claroty Continuous Threat Detection provides a large number of significant enhancements including: Virtual Zones and OT Network Segmentation – an innovative approach

INN Launches Battery Metals Channel11.12.2018 15:00Pressemelding

The new battery metals channel is designed to educate investors with original content and expert insight on the growing battery metals industry. VANCOUVER, British Columbia, Dec. 11, 2018 (GLOBE NEWSWIRE) -- Investing News Network (INN) announces the launch of its battery metals channel. Responding to the growth and evolution of the battery metals market, this channel will host news, educational content and expert opinions on the lithium, cobalt, graphite, vanadium and manganese market segments. “INN has been a trusted source of information on the lithium, cobalt, graphite, vanadium and manganese markets for nearly a decade, and is excited to bring these sectors together under the battery metals umbrella,” said Nick Smith, CEO and publisher at INN. “Through connections with experts, our leading team of experienced writers creates original, insightful content on battery metals. INN educates investors in the industry by providing information they may never have access to on their own,” S

Galimedix Therapeutics Appoints Industry Veteran, Hermann Russ, M.D., Ph.D., Chief Scientific Officer11.12.2018 14:30Pressemelding

KENSINGTON, Md. and SHORASHIM, Israel, Dec. 11, 2018 (GLOBE NEWSWIRE) -- Galimedix Therapeutics, which is developing new solutions for ophthalmic and neurodegenerative diseases, announced the appointment of Hermann Russ, M.D., Ph.D., as its chief scientific officer, effective December 1, 2018. Dr. Russ invented the use of the company’s lead molecule GAL-101/MRZ-99030 for the treatment of degenerative diseases of the retina, including glaucoma and dry macular degeneration. He is also co-inventor of the so-called “trigger effect” of GAL-101/MRZ-99030 and GAL-102/MRZ 14042, which is a unique reverse prion-like self-propagation mechanism of action important for the company’s eye drop and oral treatment regimens. “We are gratified that Dr. Russ is joining the Galimedix management team, as his knowledge in the field, as well as intimate experience with the compound, have already proven instrumental in the development of our company to date,” commented Andrew Pearlman, Ph.D., CEO of Galimedix

Farmako: Cannabis distributor to become gateway to Europe11.12.2018 10:00Pressemelding

Company is first to apply for a licence in the United Kingdom AAA-Team pushes to become gateway to Europe Company first to apply for distribution licences in UK Support of Canadian LP to obtain EU-GMP Focus on research and development FRANKFURT, Germany, Dec. 11, 2018 (GLOBE NEWSWIRE) -- The Frankfurt-based pharmaceutical company Farmako is a research-based pharmaceutical company that distributes medical cannabis. The company is active in all European markets that have created a legal basis for cannabinoid therapies. It is the first company for medical Cannabis pursue distribution licences in multiple European countries. Fort hat, it will rely on EU-GMP certified suppliers. The German market for medical cannabis is estimated at 19.1 million euros in 2018 and at 200 million Euros by 2019. For 2028, experts expect a market volume for medical cannabis of 7.8 billion euros in Germany, an increase by a factor of 400. The number of patients for cannabinoid therapies in Germany has grown from

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom