Brookfield Property REIT Inc. Reminds Holders of Class A Stock of Substantial Issuer Bid Expiry
March 21 2019 - 5:17PM
Brookfield Property REIT Inc. (NASDAQ: BPR) reminds the holders of
its outstanding Class A Stock, par value $0.01 per share (“Class A
Stock”), that its previously announced substantial issuer bid (the
“Offer”) to purchase for cash up to $95,000,000 in value of shares
of its Class A Stock will expire at 5:00 p.m. (Eastern time) on
March 25, 2019.
The Offer is being made by way of a “modified
Dutch auction,” which allows holders of Class A Stock to select the
price, within the specified range, at which each such holder is
willing to sell all or a portion of the shares of Class A Stock
that such holder owns. The Offer prices range from $19.00 to $21.00
per share of Class A Stock (in increments of $0.10 per
share).
Holders of Class A Stock are urged to consult
the formal offer to purchase and related letter of transmittal,
together with any amendments or supplements thereto (collectively,
the “Offer Documents”), containing the terms and conditions of the
Offer and instructions for tendering shares of Class A Stock, among
other things, that were sent to holders of Class A Stock or
designated brokers or other nominees, as applicable, and filed with
the U.S. Securities and Exchange Commission (“SEC”) and are
available on EDGAR at www.sec.gov.
None of BPR nor its Board of Directors
makes any recommendation to holders of Class A Stock as to whether
to tender or refrain from tendering any or all of their shares of
Class A Stock in the Offer or as to the price or prices at which
such holders may choose to tender their shares of Class A
Stock.
Holders of Class A Stock are urged to
read the Offer Documents carefully and in their entirety, and to
consult their own financial, tax and legal advisors and to make
their own decisions with respect to participation in the
Offer.
Any questions or requests for assistance in
tendering shares of Class A Stock in the Offer should be directed
to D.F. King & Co., Inc., the information agent for the Offer
at 1-888-541-9895.
This press release is for informational purposes only and is
neither an offer to purchase nor a solicitation of an offer to sell
any shares of Class A Stock.
About Brookfield Property REIT
Inc.
Brookfield Property REIT Inc. (“BPR”) is a
subsidiary of Brookfield Property Partners L.P., (NASDAQ: BPY; TSX:
BPY.UN) (“BPY”) one of the world’s premier commercial real estate
companies, with approximately $87 billion in total assets.
BPR was created as a public security that is intended to offer
economic equivalence to an investment in BPY in the form of a U.S.
REIT stock.
Brookfield Property Partners are leading owners,
operators and investors in commercial real estate, with a
diversified portfolio of premier office and retail assets, as well
as interests in multifamily, triple net lease, logistics,
hospitality, self-storage, student housing and manufactured housing
assets.
Further information is available at
bpy.brookfield.com/bpr.
Contact:Sherif
El-AzzaziDirector, Investor Relations & CommunicationsTel:
212-417-7169Email: sherif.elazzazi@brookfield.com
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