Fairfax Financial Holdings Limited

Fairfax Financial Holdings Limited

September 20, 2005 12:09 ET

Fairfax Financial Holdings Limited: Intention to Make a Normal Course Issuer Bid

TORONTO, ONTARIO--(CCNMatthews - Sept. 20, 2005) - Fairfax Financial Holdings Limited (TSX:FFH.SV)(NYSE:FFH) announces that it intends to make a Normal Course Issuer Bid, subject to regulatory approval, for up to 875,000 of its subordinate voting shares through the facilities of the Toronto Stock Exchange and the New York Stock Exchange in accordance with the rules and policies of those Exchanges. The shares to be purchased for cancellation represent approximately 9.6% of the public float of the 15,342,759 currently outstanding subordinate voting shares of Fairfax. This Normal Course Issuer Bid will commence September 22, 2005 and may extend until September 21, 2006.

Fairfax is making this Normal Course Issuer Bid because it believes that in appropriate circumstances its subordinate voting shares represent an attractive investment opportunity and that consequently purchases under the bid will enhance the value of the shares held by the remaining shareholders.

Fairfax has purchased 64,200 of its subordinate voting shares at an average price per share of Cdn$171.15 under its Normal Course Issuer Bid which commenced September 22, 2004 and will terminate on September 21, 2005.

Fairfax Financial Holdings Limited is a financial services holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance, investment management and insurance claims management.

Contact Information

  • Fairfax Financial Holdings Limited
    Greg Taylor
    Chief Financial Officer
    (416) 367-4941