BROOKFIELD NEWS,
On
“Through Brookfield Reinsurance, we are building a leading reinsurance business focused on providing our capital and investment capabilities to insurance companies and their stakeholders,” said
Brookfield Reinsurance has received conditional approval to list the exchangeable shares on the
While we fully expect to do so, Brookfield and Brookfield Reinsurance have not yet filed a final prospectus for the exchangeable shares, and the registration statement relating to the special dividend has not yet been declared effective. The final prospectus may not be filed, and the registration statement may not be declared effective, prior to the record date.
Brookfield’s shareholders will receive a cash payment in lieu of any fractional interests in an exchangeable share. Brookfield will use the five-day volume-weighted average trading price of the exchangeable shares immediately following the special dividend to determine the value of any fractional interests in an exchangeable share.
As and when declared by the Board of Directors of Brookfield Reinsurance and approved by Brookfield Reinsurance’s shareholders (where applicable), holders of the exchangeable shares will be entitled to receive distributions on the exchangeable shares at the same time and in the same amount per exchangeable share as the cash dividends paid on the Brookfield Shares. Distributions on the exchangeable shares may be in the form of a dividend, a return of capital distribution or some combination of the two. Brookfield shareholders and holders of the exchangeable shares should note the following:
-
Brookfield shareholders of record as of
May 28, 2021 will receive the previously declared cash dividend ofUS$0.13 per share onJune 30, 2021 . -
Brookfield Reinsurance expects to commence paying quarterly distributions on the exchangeable shares on
September 30, 2021 .
The NYSE and the TSX will both implement “due bill” trading commencing
For more information, please visit our website at www.brookfield.com or contact:
| Media: Tel: (416) 369-8236 Email: [email protected] |
Investor Relations Tel: (416) 359-8647 Email: [email protected] |
Forward-Looking Statements
Note: This news release contains forward-looking statements and information within the meaning of applicable securities laws. The words “will”, “expect”, “anticipated” or derivations thereof and other expressions which are predictions of or indicate future events, trends or prospects, and which do not relate to historical matters, identify forward-looking statements. Forward-looking statements in this news release include statements regarding BrookfieldReinsurance and the special dividend of exchangeable shares. Although Brookfield believes that these forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on them, or any other forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, including the ongoing COVID-19 global pandemic and the related government-mandated economic restrictions.
The future performance and prospects of Brookfield and BrookfieldReinsurance are subject to a number of known and unknown risks and uncertainties. In particular, the distribution of the exchangeable shares requires final stock exchange approval, which has not yet been received, and the distribution of the exchangeable shares is subject to the approval of the
Readers are urged to consider the foregoing risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such forward-looking information. Except as required by law, Brookfield undertakes no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise.
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