Brascan Announces Results Of Extended Offer For Trilon.Business Editors TORONTO--(BUSINESS WIRE)--June 4, 2002 Trilon Name Changed With Securities Trading securities trading, financial activity involving transactions of property such as stocks, bonds, commodities, and currency (see securities). Although the trading of stocks and bonds dates back several centuries in many Western nations, the development of the Under New Symbols Brascan Corporation (NYSE NYSE See: New York Stock Exchange : 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) )(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension : BNN.A) today announced that following the expiration of its extended offer for the outstanding shares of Trilon Financial Corporation on May 31, 2002, it has taken up an additional 2.55 million Class A and B Shares of Trilon Financial Corporation. Brascan now owns 98.6% of the Class A Shares and 99.9% of the Class B Shares of Trilon. Due to the higher proportion of shares that were tendered for Brascan Class A Shares, as opposed to cash or Brascan Preference Shares, the amount of Brascan Class A Shares to be issued under the extended offer was pro rated, with holders receiving 56.9% of the Brascan Class A Shares requested and the balance in the form of cash or Brascan Preference Shares as specified by the holder. There was no pro ration of either the cash or Preference Share consideration, which will be delivered on or about June 6, 2002. Brascan intends to exercise its statutory rights under Section 188 of the Ontario Business Corporations Act to acquire the remaining Class A or Class B Non-Voting Shares of Trilon, respectively, on a compulsory basis. New Name and Trading Symbols Trilon's shareholders approved the company's name change to Brascan Financial Corporation at the most recent shareholders' meeting shareholders' meeting n. a meeting, usually annual, of all shareholders of a corporation (although in large corporations only a small percentage attend) to elect the Board of Directors and hear reports on the company's business situation. . Accordingly, the company's securities, including the preferred securities, which are not affected by Brascan's Offer, are trading under new symbols as below: Description New Symbol Class A Shares BNF.A Floating rate Class 1 Preferred Share Series 1 BNF.PR.A Floating rate Class II Preferred Share Series 2 BNF.PR.B Class II Preferred Share Series 3 BNF.PR.C Brascan owns, manages and builds businesses that generate sustainable cash flows. Current operations are largely in the real estate, financial and power generation sectors. Total assets exceed $22 billion and include 55 commercial properties and 38 power-generating facilities. In addition, Brascan holds investments in the resource sector. Brascan is listed on The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol BNN.A 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. |
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