Breaking News

Tweet TWEET

Brookfield Asset Management Announces Normal Course Issuer Bid

Brookfield Asset Management Announces Normal Course Issuer Bid 
TORONTO, ONTARIO -- (Marketwired) -- 04/19/13 -- Brookfield Asset
Management Inc. (TSX:BAM.A)(NYSE:BAM)(EURONEXT:BAMA) today announced
that it has received approval from the Toronto Stock Exchange ("TSX")
for its proposed normal course issuer bid to purchase up to
53,571,157 Class A Limited Voting Shares, representing 10% of the
public float of Brookfield's outstanding Class A Limited Voting
Shares. Purchases under the bid will be made through the facilities
of the TSX, the New York Stock Exchange ("NYSE") and any other
applicable stock exchange. The period of the normal course issuer bid
will extend from April 23, 2013 to April 22, 2014, or an earlier date
should Brookfield complete its purchases. Brookfield will pay the
market price at the time of acquisition for any Class A Limited
Voting Shares purchased. All Class A Limited Voting Shares acquired
by Brookfield under this bid will be cancelled. 
As at April 9, 2013, the number of Class A Limited Voting Shares
issued and outstanding totaled 623,711,579, of which 535,711,579
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
195,080 Class A Limited Voting Shares, which is 25% of the average
daily trading volume for Brookfield's Class A Limited Voting Shares
on the TSX, net of issuer bid purchases, for the six months ended
March 31, 2013. 
Under its current normal course issuer bid that commenced on April
23, 2012 and expires on April 22, 2013, Brookfield purchased
2,004,122 Class A Limited Voting Shares at an average price of
US$36.26 per share through open market purchases on the NYSE. During
this time period, no open market purchases under the normal course
issuer bid were made on the TSX.  
Brookfield is renewing its normal course issuer bid because it
believes that, from time to time, the market price of its Class A
Limited Voting 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 Limited Voting
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. 
Brookfield Asset Management Inc. is a global alternative asset
manager with over $175 billion in assets under management. The
company has over a 100-year history of owning and operating assets
with a focus on property, renewable power, infrastructure and private
equity. Brookfield has a range of public and private investment
products and services, which leverage its expertise and experience
and provide it with a competitive advantage in the markets where it
operates. 
For more information about Brookfield Asset Management, please visit
our web site at www.brookfield.com. 
Forward-Looking Statements 
Note: This press release contains forward-looking information within
the meaning of Canadian provincial securities laws and other "forward
looking statements" within the meaning of Section 27A of the U.S.
Securities Act of 1933, as amended, and Section 21E of the U.S.
Securities Exchange Act of 1934, as amended. The words "proposed",
"believe", conditional verbs such as "will" and other expressions
which 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 Limited Voting Shares pursuant
to the company's normal course issuer bid. 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 Limited Voting 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 "Operating Capabilities, 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.
Contacts:
Media: Brookfield Asset Management Inc.
Andrew Willis
SVP, Communications & Media
(416) 369-8236
(416) 363-2856 (FAX)
andrew.willis@brookfield.com 
Investors: Brookfield Asset Management Inc.
Katherine Vyse
SVP, Investor Relations
(416) 369-8246
(416) 363-2856 (FAX)
katherine.vyse@brookfield.com
www.brookfield.com
 
 
Press spacebar to pause and continue. Press esc to stop.