Prem Watsa Acquires Additional Shares of Fairfax
June 15 2020 - 5:05PM
Fairfax Financial Holdings Limited (TSX: FFH and FFH.U) announces
that Prem Watsa, its Chair and CEO, has advised that over the last
few days he has purchased in the market 482,600 subordinate voting
shares of Fairfax for an aggregate purchase cost of approximately
US$148.95 million.
Mr. Watsa commented as follows in connection
with this purchase: “At our AGM and on our first quarter earnings
release call, I said that our shares are ‘ridiculously cheap’. That
statement reflected my recognition that in the 35 years since
Fairfax began, I have never seen Fairfax shares sell at a bigger
discount to their intrinsic value than they have recently. I have
now backed up my strong words by purchasing close to US$150 million
of Fairfax shares in the market over the last few days, as I
believe that this will be an excellent long term investment.”
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: |
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John Varnell, Vice President, Corporate Developmentat (416)
367-4941 |
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