Corporate ActionJun 22, 2026, 05:00 PM
Brookfield Preference Share Conversion Fails Due to Low Tenders
AI Summary
Brookfield Corporation announced that the conversion of its Cumulative Class A Preference Shares, Series 24 (TSX: BN.PR.R) into Cumulative Class A Preference Shares, Series 25, will not proceed. Only 1,400 Series 24 Shares were tendered for conversion, falling short of the required one million shares. Consequently, holders of Series 24 Shares will retain their shares.
Key Highlights
- 1,400 Series 24 Shares were tendered for conversion into Series 25 Shares.
- The conversion required a minimum of one million shares to be tendered.
- Due to insufficient tenders, no Series 24 Shares will be converted into Series 25 Shares.
- Holders of Series 24 Shares will retain their existing shares.
- Brookfield Corporation is a global investment firm focused on building long-term wealth.
Price Impact
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