Brookfield Asset Management Begins Normal Course Issuer Bid For Preferred Share

(RTTNews) - Brookfield Asset Management Inc. (BAM, BAM_A.TO) announced it has received approval from the Toronto Stock Exchange or "TSX" for its proposed normal course issuer bid to purchase up to 10% of the public float of each series of the company's outstanding Class A Preference Shares, excluding the Series 14 Class A Preference Shares, that are listed on the TSX.

The period of the normal course issuer bid will extend from August 12, 2015 to August 11, 2016, or an earlier date should Brookfield complete its purchases.

Brookfield noted that it will pay the market price at the time of acquisition for any Preferred Shares purchased. All Preferred Shares acquired by Brookfield under this bid will be cancelled. Brookfield has not repurchased any Preferred Shares in the past 12 months.

Brookfield noted that it is commencing a normal course issuer bid because it believes that the Preferred Shares may trade in price ranges that do not fully reflect their value. Brookfield believes that acquiring the Preferred Shares represents an attractive and desirable use of its available funds.