BPO.PR.H To Be Redeemed

Brookfield Office Properties Inc., a subsidiary of Brookfield Property Partners, has announced:

that it intends to redeem all 8,000,000 of its outstanding Class AAA Preference Shares, Series H (TSX: BPO.PR.H), all of which are beneficially held by CDS & Co., as nominee of CDS Clearing and Depositary Services Inc., for cash on May 23, 2016. The redemption price for each such share will be C$25.00 plus accrued and unpaid dividends thereon.

Notice of Redemption has been sent to CDS & Co. Payment of the redemption price will be made to all beneficial holders of the Series H Shares on or after May 23, 2016 through the facilities of CDS & Co.

BPO.PR.H is an interesting issue since, pursuant to a Plan of Arrangement announced in May, 2014, some holders exchanged their shares for preferred shares of Brookfield Property Split Corp. (symbol BPS):

56.8% of the BPO preference shares series H that holders elected (or are deemed to have elected) to exchange for BOP Split preferred shares were exchanged … In aggregate, $25 million of each of the four series of BOP Split preferred shares were issued.

BOP Split still does not have its own website; shareholders are serviced via the Brookfield Office Properties site and SEDAR.

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