BIP Investment Corp Postpones Meeting on Preferred Shares
BIP Investment Corporation Postpones Meeting on Preferred Shares
BIP Investment Corporation (TSX: BIK.PR.A), a subsidiary of Brookfield Infrastructure Partners L.P. (NYSE: BIP; TSX: BIP.UN), has made an important announcement regarding the adjournment of a special meeting for holders of its senior preferred shares, series 1. The meeting, originally scheduled to take place at a specified time, will now be held virtually on a new date. This change has become essential to ensure all stakeholders can participate effectively in the proceedings.
Understanding the Meeting Adjournment
The special meeting of preferred shareholders was initially planned for a date that has now been postponed. This is not an unusual step in corporate governance, often done to ensure proper engagement and participation from shareholders. The fluctuation in timing provides an opportunity for shareholders to adequately prepare and consider the important decisions at hand.
Details of the Adjourned Meeting
The adjourned meeting is set to occur in a virtual format, allowing participants to join from their locations conveniently. This decision aligns with current trends in corporate meetings, prioritizing accessibility and safety. During the meeting, shareholders will deliberate on a special resolution intended to authorize an amendment to the conditions surrounding the redemption of preferred shares.
The Important Special Resolution
At the core of the meeting is a special resolution that seeks to modify the terms of the preferred shares, allowing BIPIC to redeem them under specific conditions. Should this resolution pass, the preferred shares could be redeemed for an amount in cash equal to $26.75 per share, granted that these shareholders receive a notice at least three business days in advance. This change can significantly impact the investment landscape for preferred shareholders.
About Brookfield Infrastructure
Brookfield Infrastructure is renowned for owning and operating high-quality infrastructure assets across various sectors, including utilities, transport, midstream, and data. Catering to a global market, the focus is on assets that provide stable revenues, making them a preferred choice for investors seeking long-term security. By accessing its portfolio through Brookfield Infrastructure Partners L.P. or Brookfield Infrastructure Corporation, investors gain a foothold in a diverse array of high-quality investments.
Investment Opportunities Ahead
The infrastructure sector continues to thrive, with Brookfield actively seeking growth opportunities. As a leading player in this field, the company constantly reviews its asset base and valuation models to ensure they meet both current and future demands. Investors interested in robust infrastructure investments will want to keep a keen eye on developments stemming from the upcoming meeting and the resolutions that may emanate from it.
Contact Information
For more information, interested parties can reach out to the corporate communication team or the investor relations team of Brookfield. Media inquiries can be directed to Simon Maine, Managing Director of Corporate Communications, while investor inquiries can be addressed to Stephen Fukuda, Senior Vice President of Corporate Development & Investor Relations.
Frequently Asked Questions
Why was the meeting postponed?
The meeting was postponed to allow shareholders more time to prepare for the important discussions about the special resolution regarding the redemption of preferred shares.
What is the special resolution about?
The special resolution aims to amend the terms of the preferred shares, enabling BIPIC to redeem them at $26.75 per share with prior notice.
How will the meeting be conducted?
The meeting will be held virtually, ensuring all preferred shareholders can join easily and participate in the discussions.
What are the implications of the amendment?
If approved, the amendment could provide shareholders with liquidity options concerning their preferred shares under specified conditions.
Who can participate in the meeting?
All holders of the preferred shares are invited to attend the meeting and participate in the voting on the special resolution.
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