Brookfield Office Properties Inc. Announces Commencement of Normal Course Issuer Bid

Brookfield Office Properties Inc. Announces Commencement of Normal Course Issuer Bid

Dec 15, 2015
TORONTO, ONTARIO, December 15, 2015 – Brookfield Office Properties Inc. (“Brookfield”) today announced it has received approval from the Toronto Stock Exchange (“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 AAA Preference Shares that are listed on the TSX (the “Preferred Shares”). Purchases under the bid will be made through the facilities of the TSX and any alternative Canadian trading systems in compliance with applicable Canadian securities laws. The period of the normal course issuer bid will extend from December 17, 2015 to December 16, 2016, or an earlier date should Brookfield complete its purchases prior to such date. Brookfield 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.

Under the normal course issuer bid, Brookfield is authorized to repurchase each respective series of the Preferred Shares as follows:

Series

Ticker

Issued and outstanding shares1

Public float1

Average daily trading volume2

Maximum number of shares subject to purchase3

Total

Daily

Series G

BPO.PR.U

4,400,000

3,396,451

2,854

339,645

1,000

Series H

BPO.PR.H

8,000,000

7,000,000

4,484

700,000

1,121

Series J

BPO.PR.J

7,902,768

6,902,768

5,713

690,276

1,428

Series K

BPO.PR.K

6,000,000

4,995,414

2,280

499,541

1,000

Series N

BPO.PR.N

11,000,000

11,000,000

11,277

1,100,000

2,819

Series P

BPO.PR.P

12,000,000

12,000,000

14,336

1,200,000

3,584

Series R

BPO.PR.R

10,000,000

10,000,000

11,821

1,000,000

2,955

Series T

BPO.PR.T

10,000,000

10,000,000

12,333

1,000,000

3,083

Series V

BPO.PR.X

1,805,489

1,290,789

1,148

129,078

1,000

Series W

BPO.PR.W

3,816,527

1,884,427

1,460

188,442

1,000

Series Y

BPO.PR.Y

2,847,711

1,242,911

727

124,291

1,000

Series AA

BPO.PR.A

12,000,000

11,975,000

11,495

1,197,500

2,873
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