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Fairfax India Announces Intention to Make a Normal Course Issuer Bid
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES TO...
About this update from Fairfax India Holdings Corp
[{"type":"text","content":"Fairfax India Announces Intention to Make a Normal Course Issuer Bid\n\n\n\n\n NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES\n \n\n\n TORONTO, Sept. 26, 2025 (GLOBE NEWSWIRE) -- Fairfax India Holdings Corporation (“Fairfax India”) (TSX: FIH.U) announces that the Toronto Stock Exchange (the “TSX”) has accepted a notice filed by Fairfax India of its intention to commence a Normal Course Issuer Bid for its Subordinate Voting Shares through the facilities of the TSX (or other alternative Canadian trading systems) effective September 30, 2025. Purchases will be made in accordance with the rules and policies of the TSX and the Subordinate Voting Shares purchased by Fairfax India will be cancelled and/or reserved for share based payment awards.\n \n\n The notice provides that Fairfax India’s board of directors has approved the purchase on the TSX, during the period commencing September 30, 2025 and ending September 29, 2026, of up to 5,551,115 Subordinate Voting Shares, representing approximately 10% of Fairfax India’s public float of 55,511,159 Subordinate Voting Shares as at September 16, 2025. As at September 16, 2025, Fairfax India had outstanding 104,810,704 Subordinate Voting Shares. Under the bid, Fairfax India may purchase up to 11,879 Subordinate Voting Shares on the TSX (or other alternative Canadian trading systems) during any trading day, which represents 25% of the average daily trading volume on the TSX for the prior six months (being 47,519 Subordinate Voting Shares), all as calculated in accordance with the rules of the TSX. This limitation does not apply to purchases made pursuant to block purchase exemptions.\n \n\n Fairfax India 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 purchases under the bid will enhance the value of the Subordinate Voting Shares held by the remaining shareholders.\n \n\n Pursuant to its existing Normal Course Issuer Bid, Fairfax India sought and received approval from the TSX to purchase up to 5,585,509 Subordinate Voting Shares, and has purchased to date 356,465 Subordinate Voting Shares during the last twelve months through open market purchases on the TSX and other alternativ...