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BROOKFIELD NEWS, June 01, 2021 (GLOBE NEWSWIRE) — Brookfield Workplace Properties Inc., a subsidiary of Brookfield Property Companions L.P., in the present day introduced the reset dividend charge on its Class AAA Desire Shares, Collection N (“Collection N Shares”) (TSX: BPO.PR.N) and Class AAA Desire Shares, Collection CC (“Collection CC Shares”) (TSX: BPO.PR.C).
Collection N Shares
If declared, the fastened quarterly dividends on the Collection N Shares for the 5 years commencing July 1, 2021 and ending June 30, 2026 will probably be paid at an annual charge of 4.01% ($0.250438 per share per quarter).
Holders of Collection N Shares have the appropriate, at their choice, exercisable not later than 5:00 p.m. (Toronto time) on June 15, 2021, to transform all or a part of their Collection N Shares, on a one-for-one foundation, into Class AAA Desire Shares, Collection O (the “Collection O Shares”), efficient June 30, 2021.
The quarterly floating charge dividends on the Collection O Shares have an annual charge, calculated for every quarter, of three.07% over the annual yield on three-month Authorities of Canada treasury payments. The precise quarterly dividend charge for the July 1, 2021 to September 30, 2021 dividend interval for the Collection O Shares will probably be 0.801530% (3.18% on an annualized foundation) and the dividend, if declared, for such dividend interval will probably be $0.200383 per share, payable on September 30, 2021.
Holders of Collection N Shares are usually not required to elect to transform all or any a part of their Collection N Shares into Collection O Shares.
As supplied within the share situations of the Collection N Shares, (i) if Brookfield determines that there could be fewer than 1,000,000 Collection N Shares excellent after June 30, 2021, all remaining Collection N Shares will probably be routinely transformed into Collection O Shares on a one-for-one foundation efficient June 30, 2021; and (ii) if Brookfield determines that there could be fewer than 1,000,000 Collection O Shares excellent after June 30, 2021, no Collection N Shares will probably be permitted to be transformed into Collection O Shares. There are at the moment 11,000,000 Collection N Shares excellent.
The Toronto Inventory Change (“TSX”) has conditionally authorised the itemizing of the Collection O Shares efficient upon conversion. Itemizing of the Collection O Shares is topic to Brookfield fulfilling all of the itemizing necessities of the TSX and, upon approval, the Collection O Shares will probably be listed on the TSX beneath the buying and selling image “BPO.PR.O”.
Collection CC Shares
If declared, the fastened quarterly dividends on the Collection CC Shares for the 5 years commencing July 1, 2021 and ending June 30, 2026 will probably be paid at an annual charge of 6.12% ($0.382313 per share per quarter).
Holders of Collection CC Shares have the appropriate, at their choice, exercisable not later than 5:00 p.m. (Toronto time) on June 15, 2021, to transform all or a part of their Collection CC Shares, on a one-for-one foundation, into Class AAA Desire Shares, Collection DD (the “Collection DD Shares”), efficient June 30, 2021.
The quarterly floating charge dividends on the Collection DD Shares have an annual charge, calculated for every quarter, of 5.18% over the annual yield on three-month Authorities of Canada treasury payments. The precise quarterly dividend charge for the July 1, 2021 to September 30, 2021 dividend interval for the Collection DD Shares will probably be 1.333370% (5.29% on an annualized foundation) and the dividend, if declared, for such dividend interval will probably be $0.333343 per share, payable on September 30, 2021.
Holders of Collection CC Shares are usually not required to elect to transform all or any a part of their Collection CC Shares into Collection DD Shares.
As supplied within the share situations of the Collection CC Shares, (i) if Brookfield determines that there could be fewer than 1,000,000 Collection CC Shares excellent after June 30, 2021, all remaining Collection CC Shares will probably be routinely transformed into Collection DD Shares on a one-for-one foundation efficient June 30, 2021; and (ii) if Brookfield determines that there could be fewer than 1,000,000 Collection DD Shares excellent after June 30, 2021, no Collection CC Shares will probably be permitted to be transformed into Collection DD Shares. There are at the moment 8,000,000 Collection CC Shares excellent.
The TSX has conditionally authorised the itemizing of the Collection DD Shares efficient upon conversion. Itemizing of the Collection DD Shares is topic to Brookfield fulfilling all of the itemizing necessities of the TSX and, upon approval, the Collection DD Shares will probably be listed on the TSX beneath the buying and selling image “BPO.PR.D”.
About Brookfield Workplace Properties
Brookfield Workplace Properties Inc. is a subsidiary of Brookfield Property Companions L.P., one of many world’s largest industrial actual property firms, with over $88 billion in whole property. For extra data, please go to bpy.brookfield.com/bpo.
Brookfield
Contact:
Matt Cherry
Senior Vice President, Investor Relations
Tel.: (212) 417-7488
E mail: matthew.cherry@brookfield.com
