Under the normal course issuer bid, the Board of Directors of the general partner of Brookfield Infrastructure authorized Brookfield Infrastructure to repurchase up to 5% of the issued and outstanding LP Units, or 12,181,987 LP Units. At the close of business on October 31, 2016, there were 243,639,759 LP Units issued and outstanding. Under the normal course issuer bid, Brookfield Infrastructure may purchase up to 48,663 LP Units on the TSX during any trading day, which represents 25% of the average daily trading volume of 194,653 LP Units on the TSX for the six months ended October 31, 2016, calculated in accordance with the rules of the TSX.
There are currently three series of Preferred Units outstanding and which trade exclusively on the TSX. Under the normal course issuer bid, Brookfield Infrastructure is authorized to repurchase a total of up to 10% of the total public float of each series of the Preferred Units as follows:
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Average
Issued and daily Maximum number of
outstanding Public trading units subject to
Series Ticker units(1) float(1) volume(2) purchase(3)
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Total Daily
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Series 1 BIP.PR.A 5,000,000 5,000,000 6,854 500,000 1,713
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Series 3 BIP.PR.B 5,000,000 5,000,000 8,515 500,000 2,128
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Series 5 BIP.PR.C 10,000,000 10,000,000 96,508 1,000,000 24,127
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(1) Calculated as at October 31, 2016.
(2) For the 6 months ended October 31, 2016 with respect to the Series 1 and
Series 3 Preferred Units. For the 3 months ended October 31, 2016 with
respect to the Series 5 Preferred Units.
(3) In accordance with TSX rules, any daily repurchases with respect to the
Series 1, Series 3 and Series 5 Preferred Units will be limited to 25%
of the average daily trading volume on the TSX of the respective series.
Repurchases are authorized to commence on November 10, 2016 and will terminate on November 9, 2017, or earlier should Brookfield Infrastructure complete its repurchases prior to such date.
Under its previous normal course issuer bid that expired on October 5, 2016, Brookfield Infrastructure purchased an aggregate of 143,800 LP Units at an average price of
All purchases will be made through the facilities of the TSX or the New York Stock Exchange, and all Units acquired under the normal course issuer bid will be cancelled. Repurchases will be subject to compliance with applicable
From time to time, when Brookfield Infrastructure does not possess material non-public information about itself or its securities, it may enter into automatic purchase plans with its broker to allow for the repurchase of Units, subject to certain trading parameters, at times when Brookfield Infrastructure ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise. Any such plans entered into with Brookfield Infrastructure's broker will be adopted in accordance with applicable Canadian and
Brookfield Infrastructure Partners is a leading global infrastructure company that owns and operates high quality, long-life assets in the utilities, transport, energy and communications infrastructure sectors across
Brookfield Infrastructure is the flagship listed infrastructure company of Brookfield Asset Management, a leading global alternative asset manager with approximately
For more information, please visit our website at www.brookfieldinfrastructure.com.
Note: This news release contains forward-looking information within the meaning of Canadian provincial securities laws and "forward-looking statements" within the meaning of Section 27A of the
Contacts: Media: Claire Holland Vice President, Communications (416) 369-8236 [email protected] Investors: Melissa Low Vice President, Investor Relations & Communications (416) 956-5239 [email protected]
Source: Brookfield Infrastructure Partners L.P.
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