Intention to Make a Normal Course Issuer Bid for Subordinate Voting Shares and Preferred Shares
TORONTO, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and FFH.U) announces that the Toronto Stock Exchange (the
“TSX”) has accepted a notice filed by Fairfax of its intention to commence a Normal Course Issuer Bid (“NCIB”) through the facilities of the TSX (or other
alternative Canadian trading systems) for its Subordinate Voting Shares and the following series of its Preferred Shares: Cumulative 5-Year Rate Reset Preferred Shares, Series C (“Series C
Shares”), Cumulative Floating Rate Preferred Shares, Series D (“Series D Shares”), Cumulative 5-Year Rate Reset Preferred Shares, Series E (“Series E
Shares”), Cumulative Floating Rate Preferred Shares, Series F (“Series F Shares”), Cumulative 5-Year Rate Reset Preferred Shares, Series G (“Series G
Shares”), Cumulative Floating Rate Preferred Shares, Series H (“Series H Shares”), Cumulative 5-Year Rate Reset Preferred Shares, Series I (“Series I
Shares”), Cumulative Floating Rate Preferred Shares, Series J (“Series J Shares”), Cumulative 5-Year Rate Reset Preferred Shares, Series K (“Series K
Shares”) and Cumulative 5-Year Rate Reset Preferred Shares, Series M (“Series M Shares” and, together with the Series C Shares, Series D Shares, Series E Shares, Series F
Shares, Series G Shares, Series H Shares, Series I Shares, Series J Shares and Series K Shares, the “Preferred Shares”). Purchases will be made in accordance with the rules and
policies of the TSX. Subordinate Voting Shares purchased will be either cancelled or reserved for share-based payment awards and Preferred Shares purchased will be cancelled.
As stated in the notice, Fairfax’s board of directors has approved the purchase on the TSX, during the period commencing September 30, 2023 and ending September 29, 2024, of Subordinate Voting Shares and Preferred Shares up to the following limits:
Limit on Purchases | |||||
Securities Outstanding1 | Public Float | Average Daily Trading Volume | Total Limit2 | Daily Limit3 | |
Subordinate Voting Shares | 24,353,736 | 23,415,646 | 33,166 | 2,341,564 | 8,291 |
Series C Shares | 7,515,642 | 7,510,342 | 5,589 | 751,034 | 1,397 |
Series D Shares | 2,484,358 | 1,784,158 | 2,954 | 178,415 | 1,000 |
Series E Shares | 5,440,132 | 5,436,132 | 2,464 | 543,613 | 1,000 |
Series F Shares | 2,099,046 | 1,753,096 | 2,511 | 175,309 | 1,000 |
Series G Shares | 7,719,843 | 7,719,843 | 8,044 | 771,984 | 2,011 |
Series H Shares | 2,280,157 | 2,280,157 | 1,852 | 228,015 | 1,000 |
Series I Shares | 10,420,101 | 10,420,101 | 6,105 | 1,042,010 | 1,526 |
Series J Shares | 1,579,899 | 1,579,899 | 888 | 157,989 | 1,000 |
Series K Shares | 9,500,000 | 9,500,000 | 3,916 | 950,000 | 1,000 |
Series M Shares | 9,200,000 | 9,196,000 | 3,391 | 919,600 | 1,000 |
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