Bidding process.Brookfield Properties Brookfield Properties Corporation TSX: BPO NYSE: BPO is a Toronto-based North American commercial real estate company. Brookfield Asset Management owns 50% of its outstanding common shares. Corporation announced that the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. accepted a notice filed by Brookfield Brookfield. 1 Village (1990 pop. 18,876), Cook co., NE Ill., a residential suburb of Chicago; inc. 1893. The noted Chicago Zoological Park (Brookfield Zoo) is there. 2 City (1990 pop. 35,184), Waukesha co., SE Wis. of its intention to renew its existing normal course issuer bid for a further one year period. Brookfield stated that at times its common shares trade in price ranges that do not fully reflect their value. As a result, from time to time, acquiring common shares represents an attractive and a desirable use of available funds. The notice provides that Brookfield may, during the twelve month periodcommencing September 15, 2004 and ending September 14, 2005, purchase on the Toronto Stock Exchange and the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. up to 7,792,209 common shares, representing approximately 5% of the issued and outstanding common shares of the company. At September 8, 2004, there were 155,844,182 common shares issued and outstanding and 77,756,169 common shares in the public float. In addition, Brookfield has 6,312,000 Class A redeemable Redeemable Eligible for redemption under the terms of an indenture. voting shares Voting Shares Shares that give the stockholder the right to vote on matters of corporate policy making as well as who will compose the members of the board of directors. Notes: Different classes of shares, such as preferred stock, sometimes don't allow for voting rights. outstanding. The price to be paid for the shares will be the market price at the time of purchase. The actual number of shares to be purchased and the timing of such purchases will be determined by Brookfield, and all shares will be purchased on the open market or such other means as approved by the Toronto Stock Exchange and the New York Stock Exchange. All shares purchased by Brookfield under this bid will be promptly cancelled. As at September 8, 2004, Brookfield acquired 1,613,200 common shares at an average price of $27.95 per share under its existing normal course issuer bid which commenced on September 15, 2003 and ends on September 14, 2004. |
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