Brookfield Corporation Announces Results of Conversion of its Series 40 Preferred Shares

Rhea-AI Summary

Brookfield (NYSE: BN, TSX: BN) has announced the results of the conversion of its Cumulative Class A Preference Shares, Series 40 (TSX: BN.PF.F) into Cumulative Class A Preference Shares, Series 41. The company reported that 29,920 Series 40 Shares were tendered for conversion, which is below the one million share threshold required to proceed with the conversion into Series 41 Shares. As a result, no conversion will take place, and holders of Series 40 Shares will retain their current shares.

BROOKFIELD, NEWS, Sept. 20, 2024 (GLOBE NEWSWIRE) -- Brookfield Corporation (NYSE: BN, TSX: BN) today announced that after having taken into account all election notices received by the deadline for the conversion of its Cumulative Class A Preference Shares, Series 40 (the “Series 40 Shares”) (TSX: BN.PF.F) into Cumulative Class A Preference Shares, Series 41 (the “Series 41 Shares”), there were 29,920 Series 40 Shares tendered for conversion, which is less than the one million shares required to give effect to conversion into Series 41 Shares. Accordingly, there will be no conversion of Series 40 Shares into Series 41 Shares and holders of Series 40 Shares will retain their Series 40 Shares.

About Brookfield Corporation

Brookfield Corporation is a leading global investment firm focused on building long-term wealth for institutions and individuals around the world. We have three core businesses: Alternative Asset Management, Wealth Solutions, and our Operating Businesses which are in renewable power, infrastructure, business and industrial services, and real estate.

We have a track record of delivering 15%+ annualized returns to shareholders for over 30 years, supported by our unrivaled investment and operational experience. Our conservatively managed balance sheet, extensive operational experience, and global sourcing networks allow us to consistently access unique opportunities. At the center of our success is the Brookfield Ecosystem, which is based on the fundamental principle that each group within Brookfield benefits from being part of the broader organization. Brookfield Corporation is publicly traded in New York and Toronto (NYSE: BN, TSX: BN).

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

Media	Investor Relations
Kerrie McHugh	Linda Northwood
Tel: (212) 618-3469	Tel: (416) 359-8647
Email: kerrie.mchugh@brookfield.com	Email: linda.northwood@brookfield.com

FAQ

How many Brookfield Series 40 Shares were tendered for conversion?

29,920 Brookfield Series 40 Shares were tendered for conversion.

Will Brookfield (BN) convert Series 40 Shares into Series 41 Shares?

No, Brookfield will not convert Series 40 Shares into Series 41 Shares as the number of shares tendered was below the required threshold.

What was the minimum number of shares required for Brookfield 's Series 40 to Series 41 conversion?

A minimum of one million shares were required to give effect to the conversion of Brookfield 's Series 40 Shares into Series 41 Shares.

What happens to holders of Brookfield (BN) Series 40 Shares after the failed conversion attempt?

Holders of Brookfield Series 40 Shares will retain their current Series 40 Shares as the conversion did not take place.