TORONTO, May 03, 2021 (GLOBE NEWSWIRE) — Partners Value Split Corp. (the “Company”) introduced at this time its intention to redeem all 4,000,000 of its Class AA Preferred Shares, Series 7 (“Preferred Shares, Series 7”) for money on May 20, 2021 (the “Redemption Date”) in accordance with the phrases of the Preferred Shares, Series 7.
The redemption worth per Preferred Shares, Series 7 will probably be equal to C$25.50 plus accrued and unpaid dividends of C$0.30220 per share to May 20, 2021 representing a complete redemption worth of C$25.8022 per share (the “Redemption Price”).
Notice will probably be delivered to holders of the Preferred Shares, Series 7 in accordance with the phrases of the Preferred Shares, Series 7.
From and after the Redemption Date, the Preferred Shares, Series 7 will stop to be entitled to dividends or some other participation in any distribution of the property of the Company and the holders thereof shall not be entitled to train any of their different rights as shareholders in respect thereof besides to obtain the Redemption Price (much less any tax required to be deducted and withheld by the Company). After the redemption of the Preferred Shares, Series 7, the Company will consolidate the prevailing capital shares held by Partners Value Investments Inc. in order that there are an equal variety of most popular shares and capital shares excellent.
About Partners Value Split Corp.
The Company owns a portfolio consisting of roughly 119,611,000 Class A Limited Voting Shares of Brookfield Asset Management Inc. (the “Brookfield Shares”) which is predicted to yield quarterly dividends which can be enough to fund quarterly mounted cumulative preferential dividends for the holders of the Company’s most popular shares and to allow the holders of the Company’s capital shares to take part in any capital appreciation of the Brookfield Shares. Brookfield Asset Management Inc. (“BAM”) is a number one world various asset supervisor with roughly US$600 billion of property beneath administration throughout actual property, infrastructure, renewable energy, personal fairness and credit score. BAM owns and operates long-life property and companies, a lot of which kind the spine of the worldwide financial system. Utilizing its world attain, entry to large-scale capital and operational experience, BAM gives a spread of different funding merchandise to traders around the globe— together with private and non-private pension plans, endowments and foundations, sovereign wealth funds, monetary establishments, insurance coverage corporations and personal wealth traders. BAM is listed on the New York Stock Exchange and Toronto Stock Exchange beneath the image BAM and BAM.A respectively.
For additional data, contact Leslie Yuen, Chief Financial Officer, at (416) 956-5142.
This information launch comprises “forward-looking information” throughout the which means of Canadian provincial securities legal guidelines and rules. The phrases “expected”, “will”, “agreed” and “enable” and different expressions are predictions of or point out future occasions, developments or prospects and don’t relate to historic issues or determine forward-looking data. Forward-looking data on this information launch contains statements with regard to the redemption of Class AA Preferred Shares, Series 7. Although the Company believes that the anticipated future outcomes or achievements expressed or implied by the forward-looking data and statements are based mostly upon affordable assumptions and expectations, the reader mustn’t place undue reliance on the forward-looking data and statements as a result of they contain recognized and unknown dangers, uncertainties and different elements which can trigger the precise outcomes, efficiency or achievements of the Company to vary materially from anticipated future outcomes, efficiency or achievement expressed or implied by such forward-looking data and statements. Factors that might trigger precise outcomes to vary materially from these contemplated or implied by the forward-looking data and statements embody: the behaviour of economic markets, together with fluctuations in curiosity and change charges, availability of fairness and debt financing and different dangers and elements detailed on occasion within the Company’s different paperwork filed with the Canadian securities regulators. We warning that the foregoing record of vital elements which will have an effect on future outcomes isn’t exhaustive. When counting on our forward-looking data to make choices with respect to the Company, traders and others ought to fastidiously think about the foregoing elements and different uncertainties and potential occasions. Except as could also be required by regulation, the Company undertakes no obligation to publicly replace or revise any forward-looking data or statements, whether or not written or oral, that could be on account of new data, future occasions or in any other case. Reference must be made to the Company’s most up-to-date Annual Information Form for an outline of the main threat elements.