FFH condoning weak governance? Thought participants on this board would be interested to know about a situation involving FFH: https://www.newswire.ca/news-releases/avante-logixx-inc-second-largest-shareholder-continues-to-ask-for-governance-improvements-transparency-and-sale-838999615.html
Fairfax is a ~20% holder of Avante Logixx, a tiny ~$20M residential security business in Toronto.
A year ago, FFH was instrumental in blocking a takeout of Avante at $1.75/sh. The prior CEO returned to run the busines. And multiple governance breaches quickly ensued.
First, within 30 days of the blocked transaction, the Board issued 1.1 million options at $0.88/sh (~4% of S/O). The prior CEO received 800k options at an $1.02/sh avg. strike.
The link details more... but it makes little sense why FFH blocked the transaction, offering no explanation.