Brookfield Asset Management Sets New Date for Shareholder Meeting

Brookfield Asset Management Sets New Meeting Date

Brookfield Asset Management Ltd. (NYSE: BAM, TSX: BAM) has recently made an important announcement regarding a special meeting for its shareholders. The company has set a new date of January 27, 2025, for this crucial meeting. This comes after the recent resumption of mail service in Canada, allowing BAM to proceed smoothly with its plans.

Understanding the Special Meeting

The upcoming shareholder meeting is set to take place virtually at 10:00 a.m. (EST). This format allows shareholders to participate and vote in real-time through live audio webcast, promoting inclusivity and accessibility for all involved.

Proposed Corporate Arrangement

During the meeting, shareholders will deliberate on important matters, including the approval of a special resolution known as the "Arrangement Resolution". This resolution is intended to enhance BAM's corporate structure significantly. The board of directors will also seek approval to increase the number of directors from 12 to 14. Such expansions are vital for effectively managing the company's assets and fostering continued growth.

The Board's Recommendation

The Board of Directors believes that the proposed Arrangement is in the best interest of BAM. Despite some members, including CEO Bruce Flatt, abstaining from the vote, the Board has unanimously approved the Arrangement. They are actively encouraging shareholders to vote in favor of this resolution.

Key Benefits of the Arrangement

If approved, BAM aims to obtain a final ruling from the Supreme Court of British Columbia on January 30, 2025. This ruling will clear the way for the completion of the proposed changes, allowing BAM to close the enforcement of the arrangement in February 2025. The Board's expansion will enable them to bring on directors based in the U.S., where much of BAM's asset management activities operate. This strategic move is aimed at ensuring the Board possesses a diversity of skills while enhancing its responsibility in guiding the company forward.

Voting at the Meeting

Shareholders who wish to vote must do so prior to the deadline, which is set for 5:00 p.m. (EST) on January 23, 2025. There are several methods to cast votes, including online, fax, or mail. Investors will receive comprehensive instructions on completing their proxy votes through various channels.

Information for Registered and Beneficial Holders

For registered shareholders, attendance at the online meeting means being able to vote via an online ballot during the event. Non-registered shareholders will find a voting instruction form included with their notice, which must be completed if they wish not to attend.

About Brookfield Asset Management

BAM stands as a global alternative asset manager with a rich portfolio spanning renewable energy, infrastructure, private equity, real estate, and credit management, overseeing assets totaling over $1 trillion. The firm's focus remains on sustainable investments that contribute to real assets, aligning with their commitment to long-term client value generation. BAM serves a diverse clientele including pension plans, endowments, and sovereign wealth funds, drawing strength from its extensive operational expertise.

Frequently Asked Questions

What is the purpose of the special meeting?

The special meeting aims to discuss the approval of a resolution related to a corporate structure arrangement and increase the number of directors.

When is the new date for the shareholder meeting?

The shareholder meeting is scheduled for January 27, 2025, at 10:00 a.m. (EST).

How will the meeting be conducted?

The meeting will be held virtually, allowing shareholders to join via an audio webcast.

What should shareholders do if they wish to vote?

Shareholders can vote online, by fax, or via mail, with the deadline set for January 23, 2025, at 5:00 p.m. (EST).

What is the significance of the Arrangement Resolution?

Approving the Arrangement Resolution is expected to enhance BAM's corporate structure and facilitate its growth in the asset management sector.

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