Fairfax Financial Holdings Limited has completed its previously announced public offering of 1,000,000 subordinate voting shares at a price of C$431.00 per share, for gross proceeds of C$431 million. Net proceeds of the issue, after commissions and expenses, are approximately C$417.1 million.
Fairfax Financial Holdings Limited announced today that it has acquired, through its subsidiaries, ownership of $250,000,000 aggregate principal amount of 6% unsecured subordinated convertible debentures maturing on November 13, 2020 (the “Debentures”) of BlackBerry Limited (“BlackBerry”) representing 25% of BlackBerry’s private placement of an aggregate principal amount of $1 billion of Debentures that closed today.
Fairfax Financial Holdings Limited has announced today that it has entered into an agreement with a syndicate of underwriters under which the underwriters have agreed to buy on a bought deal basis 1,000,000 Subordinate Voting Shares (the “Subordinate Voting Shares”), at a price of C$431.00 per Common Share for gross proceeds of C$431,000,000 (the “Offering”). The offering is expected to close on November 15, 2013.
Fairfax Financial Holdings Limited announces a net loss of $571.7 million in the third quarter of 2013 ($29.02 net loss per diluted share after payment of preferred share dividends) compared to net earnings of $33.4 million in the third quarter of 2012 ($0.84 net earnings per diluted share after payment of preferred share dividends), primarily reflecting losses, mostly unrealized, on its investment portfolio, partially offset by strong underwriting results.
Fairfax Financial Holdings Limited will hold a conference call at 8:30 a.m. Eastern Time on Friday, November 1, 2013 to discuss its 2013 third quarter results which will be announced after the close of markets on Thursday, October 31 and will be available at that time on its website www.fairfax.ca.
Fairfax Financial Holdings Limited (TSX: FFH and FFH.U) (“Fairfax”) announces the successful completion today of its acquisition of American Safety Insurance Holdings, Ltd. (“American Safety”) (NYSE: ASI). Trading of American Safety shares is being suspended on October 3, 2013 and American Safety common shares will be delisted from the New York Stock Exchange in connection with the acquisition.
Fairfax Financial Holdings Limited announces that it intends to make a Normal Course Issuer Bid, subject to regulatory approval, for up to 800,000 of its subordinate voting shares through the facilities of the Toronto Stock Exchange (the “TSX”). Purchases will be made in accordance with the rules and policies of the TSX and subordinate voting shares purchased will be cancelled.
Fairfax Financial Holdings Limited announces that it has declared a quarterly dividend of C$0.359375 per share on its Series C Preferred Shares, C$0.296875 per share on its Series E Preferred Shares, C$0.3125 per share on its Series G Preferred Shares, C$0.3125 per share on its Series I Preferred Shares and C$0.3125 per share on its Series K Preferred Shares.
Fairfax Financial Holdings Limited today announced an agreement with Tower Group International, Ltd. (Tower) and Catalina Holdings (Bermuda) Ltd. (Catalina) in connection with Fairfax’s previously announced merger agreement with American Safety Insurance Holdings, Inc. (NYSE:ASI), pursuant to which Fairfax agrees to sell American Safety’s Bermuda subsidiary, American Safety Reinsurance, Ltd. (AS Re), to Catalina promptly upon acquiring American Safety.
Fairfax Financial Holdings Limited announces a net loss of $157.8 million in the second quarter of 2013 ($8.55 net loss per diluted share after payment of preferred share dividends) compared to net earnings of $93.7 million in the second quarter of 2012 ($3.79 net earnings per diluted share after payment of preferred share dividends), primarily reflecting unrealized losses on its bond portfolio, partially offset by strong underwriting results.