Brookfield Office Properties Inc T.BPO.PR.A

Terms for $25/share Payout, Who here thinks $25 should have

[CrazyTrader]

been paid out to BPO preferreds?   

preferred-shares-1.pdf (brookfield.com)

From page 10: 

"In the event of the liquidation, dissolution or winding up of the Corporation, whether voluntary or involuntary, or any other distribution of assets of the Corporation among its shareholders for the purpose of winding up its affairs, the Holders shall be entitled to payment of an amount equal to $25.00 per Series AA Share, plus an amount equal to all accrued and unpaid Series AA Dividends up to but excluding the date of payment or distribution (less any tax required to be deducted and withheld by the Corporation), before any amounts shall be paid or any assets of the Corporation distributed to the holders of any shares ranking junior as to capital to the Series AA Shares. Upon payment of such amounts, the Holders shall not be entitled to share in any further distribution of the assets of the Corporation."

In my opinion/understanding, BPO commons were bought out, assets going\distributed to the buyer, BPO effectively winding up it's affairs with those assets and buyer taking over.   

As I understand, BPY is running the show, or is it now BAM, or is it ??????????

Anyways, point is, it seems to me BPO effectively wound-up its affairs.


All just my opinion/understanding/interpreting/guessing

[Stavkot]

It sounds like it should've been  paid based on the BPO.PRx prospectus. But I found this from when BPO was absorbed: Brookfield Property Split Corp. (“BOP Split Corp.”) was incorporated for the purpose of being an issuer of preferred shares and  owning a portion of the partnership’s investment in Brookfield Office Properties Inc. (“BOPI”) common shares. Pursuant to the terms of

[CrazyTrader]

In my view, the contract (Terms of the Preferreds), you might as well throw them in the garbage.   All you need to do to get around the terms is to phrase things in another way.  Instead of BOP being "SOLD" the were "absorbed", "partnership".    I seen this before with other corporations.....  Everyone, including the media use all kinds

[BrainNugget]

Way too many suspicious trading between Brookfield companies.  Shady financial engineering is what they are best at.