Wilmington Capital Management Inc.

Wilmington Capital Management Inc.

November 28, 2006 16:45 ET

Wilmington Capital Management Inc.: Background on Special Dividend of Shares of Brookfield Asset Management Inc.

TORONTO, ONTARIO--(CCNMatthews - Nov. 28, 2006) - On September 1, 2006, Wilmington Capital (TSX:WCM) distributed to its shareholders of record as at the close of business on August 23, 2006, cash and shares of Brookfield Asset Management Inc. ("Brookfield") Class A Limited Voting Shares as outlined below.

Eligibility: All Wilmington Class A and Class B shares.

Distribution: 0.28 Brookfield Class A Limited Voting Shares and $1.25 cash for every Class A or Class B Wilmington shares held.

Value of Brookfield share for purposes of distribution: $48.7642 per share.

Value of Distribution: $14.9040 per Wilmington share, comprised of $13.6540 in respect of the Brookfield shares and $1.25 in respect of the cash distribution.

Cost base of Brookfield shares received: $48.7642 per Brookfield share.

Fractional Brookfield Shares: Cash payment in lieu of fractional Brookfield shares based on the rate of $48.7642 per Brookfield share.

Tax Implications:

In most circumstances the distribution will be treated as a taxable dividend equal to $14.9040 per Wilmington share.

In most circumstances the Brookfield shares received will have an adjusted cost base of $48.7642 per Brookfield share.

Final Note: Shareholders should check with a tax advisor.

Contact Information

  • Wilmington Capital Management Inc.
    Brian D. Lawson
    President and Chief Executive Officer
    (416) 867-9370