SYS-CON MEDIA Authors: Jim Kaskade, Yeshim Deniz, Elizabeth White, Sean Houghton, Glenn Rossman

News Feed Item

Brookfield Soundvest Split Trust (BSD.UN and BSD.PR.A) Announces Intention to Make Normal Course Issuer Bid

OTTAWA, ONTARIO -- (Marketwired) -- 03/07/14 -- Brookfield Soundvest Capital Management Ltd. (the "Manager"), the manager of Brookfield Soundvest Split Trust (the "Trust") (TSX: BSD.UN)(TSX: BSD.PR.A) today announced that the Trust intends to purchase up to 356,319 Capital Units and 356,319 of its Preferred Securities (collectively, the "Shares") by way of a normal course issuer bid on the open market through the facilities of the Toronto Stock Exchange (the "TSX") or the following alternative markets, if eligible: CHI-X Canada, Alpha ATS, MATCH Now (Triact Canada), Omega ATS and Pure Trading.

The 356,319 Capital Units represent approximately 10% of the public float of the Capital Units. The 356,319 Preferred Securities represent approximately 8.84% of the public float of the Preferred Securities. At March 7, 2014, there were 4,030,225 Capital Units and Preferred Securities issued and outstanding. The public float of 3,563,191 Capital Units has been calculated as the issued and outstanding Capital Units less the Capital Units held by insiders of the Trust. No Preferred Securities are held by insiders of the Trust.

In accordance with the Trust's declaration of trust and trust indenture, any Capital Units purchased for cancellation will be accompanied by the Trust repurchasing an equal number of Preferred Securities and vice versa. The normal course issuer bid will commence on March 11, 2014 and end on March 10, 2015 or on such earlier date as the Trust may complete its purchases or provide notice of termination. The price to be paid for the Shares under the normal course issuer bid will be the market price at the time of purchase. All Capital Units and Preferred Securities purchased by the Trust under this bid will be promptly cancelled.

Under the normal course issuer bid, the Trust may not purchase in any 30 day period more than 80,604 Units, representing 2% of the issued and outstanding Capital Units as at the date of acceptance of the notice of the normal course issuer bid by the TSX. In the past twelve months the Trust has not purchased any of its Capital Units or Preferred Securities under the normal course issuer bid or otherwise.

The Trust commenced trading as Brookfield Soundvest Split Trust on April 30, 2010 after a name and a mandate change. Prior to that date, the Trust was known as Brascan Soundvest Rising Distribution Split Trust.

To the knowledge of the Manager, no director, senior office or other insider of the Manager intends to sell any Shares under this normal course issuer bid. Sales by such persons through the facilities of the TSX or elsewhere may occur if the circumstances or decisions of any such person changes. The benefits to any such person whose Shares are purchased would be the same as the benefits to available to all other holders whose Shares are purchased.

The Manager is of the opinion that Capital Units and Preferred Securities of the Trust may become available during the proposed purchase period at prices that would make such purchases in the best interests of the Trust and its securityholders.

The manager and investment advisor and portfolio manager for the Fund is Brookfield Soundvest Capital Management Ltd. (the "Manager"), an established investment advisor, providing investment management services to trusts, foundations, corporations and high net worth individuals.

For further information please visit www.brookfieldsoundvest.com.

Note: This news release contains forward-looking information within the meaning of Canadian provincial securities laws. The words "may", "will", "continue", "resume" and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify the above mentioned and other forward-looking statements. Forward-looking statements in this news release include statements regarding resumption of the temporarily suspended annual redemption privilege in respect of the Trust and payment of future distributions in respect of Capital Units of the Trust. Although the Manager believes that these forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on them, or any other forward looking statements or information in this news release. The future performance and prospects of the Trust are subject to a number of known and unknown risks and uncertainties. Factors that could cause actual results of the Trust to differ materially from those contemplated or implied by the statements in this news release include general economic conditions in Canada and elsewhere, changes in legislation including tax laws and regulations and other risks and factors described in the documents filed by the Manager with the securities regulators in Canada including under "Risk Factors" and other risks and factors described in the Trust's prospectus and the Trust's most recently filed Management Report of Fund Performance, Annual Information Form and other continuous disclosure documents available at www.sedar.com or www.brookfieldsoundvest.com. Except as required by law, the Manager undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Ar...
The term culture has had a polarizing effect among DevOps supporters. Some propose that culture change is critical for success with DevOps, but are remiss to define culture. Some talk about a DevOps culture but then reference activities that could lead to culture change and there are those that talk about culture change as a set of behaviors that need to be adopted by those in IT. There is no question that businesses successful in adopting a DevOps mindset have seen departmental culture change, ...
SYS-CON Media announced today that Skytap blog on "DevOps Journal" exceeded 84,000 story reads. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Noel Wurst is the managing content editor at Skytap. Skytap provides SaaS-based dev/test environments to the enterprise. Skytap solution removes the inefficiencies and constraints that comp...
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's large...
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the ...
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, a...
Fundamentally, SDN is still mostly about network plumbing. While plumbing may be useful to tinker with, what you can do with your plumbing is far more intriguing. A rigid interpretation of SDN confines it to Layers 2 and 3, and that's reasonable. But SDN opens opportunities for novel constructions in Layers 4 to 7 that solve real operational problems in data centers. "Data center," in fact, might become anachronistic - data is everywhere, constantly on the move, seemingly always overflowing. Net...
"ElasticBox is an enterprise company that makes it very easy for developers and IT ops to collaborate to develop, build and deploy applications on any cloud - private, public or hybrid," stated Monish Sharma, VP of Customer Success at ElasticBox, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges. In his session at @ThingsExpo, Jeff Kaplan, Managing Director of THINKstrateg...
The Internet of Things promises to transform businesses (and lives), but navigating the business and technical path to success can be difficult to understand. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, demonstrated how to approach creating broadly successful connected customer solutions using real world business transformation studies including New England BioLabs and more.
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happe...
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and asse...