Post by
savinfamily on Nov 21, 2011 6:44pm
... when there's blood in the streets
TORONTO, ONTARIO, Nov 21, 2011 (MARKETWIRE via COMTEX)
Fairfax Financial Holdings Limited announced today that it has acquired, through its subsidiaries, 500,000 common shares of MEGA Brands Inc. bringing its total holdings in MEGA Brands to 3,381,000 common shares or approximately 20.7% of the total common shares outstanding. The common shares were purchased through the facilities of the Toronto Stock Exchange for investment purposes pursuant to the normal course purchase exemption of applicable Canadian securities laws. Fairfax continually reviews its investment alternatives and may purchase additional common shares of MEGA Brands from time to time in accordance with applicable laws.
Fairfax also owns or controls, in the investment portfolios of its insurance subsidiaries, 56,408,000 common share purchase warrants of Mega Brands, exercisable for an additional 2,820,400 common shares. Assuming the exercise of all such warrants by Fairfax and no exercise of warrants by any other warrant holders, Fairfax would own or control, in the investment portfolios of its insurance subsidiaries, 6,201,400 common shares representing approximately 32.3% of the total common shares outstanding.
Fairfax Financial Holdings Limited is a financial services holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management.
Comment by
nerzaa on Nov 22, 2011 10:13am
misleading title; should just left it as "fairfax bought 500,000 more shares".