Fairfax Announces Acquisition of Additional Ensign Energy Services Inc. Common Shares
August 14 2024 - 6:45AM
Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and FFH.U)
announces that it has acquired, through its insurance company
subsidiaries, 271,100 common shares (“Common Shares”) of Ensign
Energy Services Inc. (“Ensign”) at a price of C$2.4238 per Common
Share for an aggregate purchase price of approximately C$657,092.18
through the facilities of the Toronto Stock Exchange (the “Share
Purchase”).
The Share Purchase represents approximately
0.15% of the issued and outstanding Common Shares of Ensign and
brings Fairfax’s total holdings, through its insurance
subsidiaries, of such securities to 33,406,386 Common Shares (or
approximately 18.19% of all Common Shares). Immediately prior to
the Share Purchase, Fairfax, through its insurance company
subsidiaries, beneficially owned and controlled 33,135,286 Common
Shares, representing approximately 18.04% of the issued and
outstanding Common Shares of Ensign.
The Common Shares are being acquired by Fairfax
for investment purposes and in the future, it may discuss with
management and/or the board of directors any of the transactions
listed in clauses (a) to (k) of item 5 of Form F1 of National
Instrument 62-103 – The Early Warning System and Related Take-over
Bid and Insider Reporting Issues and it may further purchase, hold,
vote, trade, dispose or otherwise deal in the securities of Ensign,
in such manner as it deems advisable to benefit from changes in
market prices of Ensign securities, publicly disclosed changes in
the operations of Ensign, its business strategy or prospects or
from a material transaction of Ensign, and it will also consider
the availability of funds, evaluation of alternative investments
and other factors.
An early warning report will be filed by Fairfax
in accordance with applicable securities laws and will be available
on SEDAR+ at www.sedarplus.ca or may be obtained directly from John
Varnell, Vice President, Corporate Development of Fairfax upon
request at the telephone number below.
Ensign’s head and registered office is located
at 601-130 Bloor Street West, Toronto, Ontario, M5S 1N5.
Fairfax is a corporation continued under the
Canada Business Corporations Act and is a holding company which,
through its subsidiaries, is primarily engaged in property and
casualty insurance and reinsurance and the associated investment
management.
For further information contact: |
John Varnell, Vice President, Corporate Development at (416)
367-4941 |
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