Brookfield Corporation Update: Preferred Shares Conversion Outcome

Brookfield Corporation's Preferred Shares Conversion Announcement

BROOKFIELD, NEWS – Brookfield Corporation (NYSE: BN, TSX: BN) has officially shared details regarding the recent election for converting its Cumulative Class A Preference Shares, Series 40 (known as Series 40 Shares) into Series 41 Shares. It was reported that the number of Series 40 Shares submitted for conversion was 29,920, falling short of the one million required for the conversion to take effect. As a result, holders of Series 40 Shares will continue to maintain their current positions without any modification.

Understanding the Series 40 and Series 41 Shares

The Cumulative Class A Preference Shares are a significant component of Brookfield’s capital structure, designed to provide attractive returns for stakeholders. The Series 41 Shares, which were the subject of this conversion, represent a new opportunity but require sufficient interest from existing shareholders to become effective. Since the conversion did not reach the necessary threshold, it highlights the existing demand and commitment of current shareholders to the Series 40 Share structure.

Insight into Brookfield Corporation

Brookfield Corporation stands tall as a premier global investment firm with an emphasis on long-term wealth creation for both institutional and individual clients worldwide. The company operates primarily in three domains: Alternative Asset Management, Wealth Solutions, and various Operating Businesses. Their operations span across renewable power, infrastructure, business and industrial services, and real estate sectors, presenting a diverse portfolio for investors.

Track Record and Investment Strategy

Brookfield Corporation has successfully provided over 15% annualized returns to its shareholders for more than three decades. The firm attributes its consistent performance to a robust, conservatively managed balance sheet paired with exceptional operational expertise. This strategic framework enables the firm to explore unique investment opportunities on a global scale.

The Brookfield Ecosystem

At the core of Brookfield Corporation's success is what they refer to as the Brookfield Ecosystem. This integrated model enables all operational groups within the organization to leverage shared resources and experiences, enhancing overall operational efficiencies. This creates value not just for the company, but for all shareholders involved. Brookfield Corporation operates publicly on both the New York Stock Exchange and the Toronto Stock Exchange, affirming its commitment to transparency and growth.

Future Outlook and Commitment

Despite the recent conversion election results, Brookfield Corporation remains dedicated to its strategic vision and long-term objectives. The firm continues to explore new avenues for growth and operational excellence, ensuring that it remains a competitive player in the investment landscape. The company's commitment to rewarding long-term shareholders remains unwavering.

Frequently Asked Questions

What are Series 40 and Series 41 shares?

Series 40 Shares are the current preferred shares held by investors, while Series 41 Shares represent a potential conversion option that would have provided different benefits if sufficiently elected for conversion.

Why did the shares not convert?

The conversion did not occur because the number of shares tendered for conversion was significantly lower than the one million shares required for it to take effect.

How long has Brookfield Corporation been in business?

Brookfield Corporation has over 30 years of experience in providing competitive returns to its shareholders and managing investments across various sectors.

Where can I find more information about Brookfield Corporation?

For detailed insights and updates, potential investors can visit Brookfield Corporation's official website.

Who can I contact for more inquiries?

For media inquiries, you can reach Kerrie McHugh at (212) 618-3469 or via email. Investor relations can be contacted through Linda Northwood at (416) 359-8647.

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