Fairfax Sells Its Position in Reitmans
August 07 2019 - 5:02PM
Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and FFH.U)
announces that, as a result of the substantial issuer bid (the
“Issuer Bid”) by Reitmans (Canada) Limited (“Reitmans”), 7,392,900
Class A non-voting shares (the “Class A Shares”) of Reitmans held
by Fairfax through its subsidiaries (representing approximately
14.82% of the issued and outstanding Class A Shares), were
repurchased by Reitmans at a price of C$3.00 per Class A Share.
Fairfax and its subsidiaries no longer hold any Class A Shares and
are no longer required to report any further trading in Class A
Shares, provided that its ownership or control remains below 10% of
the issued and outstanding Class A Shares.
Fairfax tendered its Class A Shares to the
Issuer Bid in the normal course of its investment activity. Fairfax
may determine to purchase additional Class A Shares in the open
market or otherwise or sell some or all of such acquired Class A
Shares, depending upon price, market conditions, availability of
funds, evaluation of alternative investments and other factors.
An early warning report will be filed by Fairfax
in accordance with applicable securities laws and will be available
on SEDAR at www.sedar.com or directly from Fairfax.
Fairfax’s registered and head office is located
at 95 Wellington Street West, Suite 800, Toronto, Ontario, M5J
2N7.
Fairfax is a holding company which, through its
subsidiaries, is engaged in property and casualty insurance and
reinsurance and the associated investment management.
For further information contact: John Varnell,
Vice President, Corporate Development and Chief Financial Officer
at (416) 367-4941
Fairfax Financial (TSX:FFH)
Historical Stock Chart
From Mar 2024 to Apr 2024
Fairfax Financial (TSX:FFH)
Historical Stock Chart
From Apr 2023 to Apr 2024