Bullboard - Stock Discussion Forum Fairfax Financial Holdings Ltd T.FFH

Alternate Symbol(s): FRFHF | T.FFH.PR.C | FXFLF | FRFZF | T.FFH.PR.D | FRFGF | T.FFH.PR.E | FXFHF | T.FFH.PR.F | FAXRF | T.FFH.PR.G | FAXXF | T.FFH.PR.H | FRFXF | T.FFH.PR.I | T.FFH.PR.J | T.FFH.PR.K | FRFFF | T.FFH.PR.M | FFHPF

Financial Services Insurance - Property & Casualty

Fairfax Financial Holdings Limited is a Canada-based holding company. The Company, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and the associated investment management. The Company’s segments include Property and Casualty Insurance and Reinsurance, Life insurance and Run-off and Non-insurance companies. The Property and Casualty Insurance and... see more

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TSX:FFH - Post Discussion

Fairfax Financial Holdings Ltd > FFH condoning weak governance?

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Post by sweegocap on Apr 25, 2023 7:34pm

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.

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