SPINOFF
Jun 8, 2021
BROOKFIELD NEWS, June 08, 2021 (GLOBE NEWSWIRE) -- Brookfield Asset Management Inc. (“Brookfield”) (TSX: BAM.A; NYSE: BAM) today announced that it has set June 18, 2021 as the record date for the previously announced special dividend of shares of Brookfield Asset Management Reinsurance Partners Ltd. (“Brookfield Reinsurance”).
On June 28, 2021, the holders of Brookfield’s class A and class B limited voting shares of record as of June 18, 2021 will be entitled to receive one class A exchangeable limited voting share (an “exchangeable share”) for every 145 Brookfield class A and class B limited voting shares held (each, a “Brookfield Share”). The exchangeable shares are structured to be economically equivalent to a Brookfield Share, including that distributions will be paid at the same time and in the same amount per share as dividends on Brookfield Shares. The exchangeable shares are intended to provide investors with the equivalent economic exposure to Brookfield but through an alternative security through which to hold their interests in Brookfield’s business.
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Brookfield Reinsurance has received conditional approval to list the exchangeable shares on the New York Stock Exchange (the “NYSE”) and the Toronto Stock Exchange (the “TSX”) under the symbol “BAMR”. Listing of the exchangeable shares on the NYSE and the TSX is subject to Brookfield Reinsurance fulfilling all of the requirements of the NYSE and the TSX, respectively.
