Brascan Announces Dividend Rate On Its Series 9 Preferred Shares.Business Editors TORONTO--(BUSINESS WIRE)--Oct. 12, 2001 Brascan Corporation (BNN BNN Boston Neighborhood Network BNN Boundary Network Node (IBM) BNN Back-Propagation Neural Network BNN Biological Neural Network BNN Bart's Neverending Network (public-service TV network in The Netherlands) : NYSE NYSE See: New York Stock Exchange , TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). ) today announced that the dividend rate on its Class A Preference Shares, Series 9 (the "Series 9 Preferred Shares") for the five years commencing November 1, 2001 and ending October 31, 2006 will be 5.63% per annum. This is 120% of the interpolated interpolated /in·ter·po·lat·ed/ (in-ter´po-la?ted) inserted between other elements or parts. yield, as of October 11, 2001 at 10:00 a.m. (Toronto time), on the 7% Government of Canada The Government of Canada is the federal government of Canada. The powers and structure of the federal government are set out in the Constitution of Canada. In modern Canadian use, the term "government" (or "federal government") refers broadly to the cabinet of the day and bond due December 1, 2006 and the 8.75% Government of Canada bond due December 1, 2005. The dividend will be payable quarterly on the first day of February, May, August and November. It is expected that the Brascan Series 9 Preferred Shares will commence trading on The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. on November 1, 2001 under the symbol BNN.PR.G. As previously announced, holders of Brascan Class A Preference Shares, Series 8 (the "Series 8 Preferred Shares" - BNN.PR.E) (formerly Series J of Brascan Limited) have the right, effective November 1, 2001, to convert all or part of their shares on a one-for-one basis into Brascan Series 9 Preferred Shares. The deadline for exercising this conversion privilege is 5:00 p.m. (Toronto time) on Thursday, October 18, 2001. Holders of Brascan Series 8 Preferred Shares who do not convert their shares by this date will retain their Series 8 Preferred Shares and, starting on November 1, 2001, will receive a floating dividend based on the prime rate. Holders will have the opportunity to convert their shares again on November 1, 2006 and every five years thereafter. Brascan Corporation owns and operates real estate, power generating, natural resource and financial businesses, located principally in North and South America. The Company's goal is to build long term shareholder value through the creation of sustainable cashflows generated by high quality assets. Brascan is listed 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. under the symbol BNN. For more information, please visit our web site at www.brascancorp.com or contact the following individuals: |
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