Fairfax India Implements Normal Course Issuer Bid
Fairfax India Holdings Corporation (TSX: FIH.U) has made a significant announcement regarding its intention to initiate a Normal Course Issuer Bid for its Subordinate Voting Shares. This move, accepted by the Toronto Stock Exchange (TSX), aims to commence on September 30, 2025, allowing Fairfax India to conduct purchases of its shares through the TSX and alternative Canadian trading systems.
Details of the Issuer Bid
The board of Fairfax India has authorized the repurchase of up to 5,551,115 Subordinate Voting Shares, which represents roughly 10% of its public float. As of mid-September 2025, the total number of Subordinate Voting Shares outstanding was 104,810,704. Under this issuer bid, Fairfax India can buy up to 11,879 shares per trading day on the TSX, which equates to 25% of the average daily trading volume calculated over the last six months.
Strategic Value of Share Purchases
Fairfax India believes that purchasing its Subordinate Voting Shares presents an appealing investment opportunity in suitable circumstances. The company anticipates that this strategy will enhance the value of shares held by existing shareholders, fostering long-term loyalty and confidence in its business model.
Previous Issuer Bid Performance
In line with its ongoing Normal Course Issuer Bid, Fairfax India secured approval from the TSX to buy back 5,585,509 shares. To date, 356,465 shares have been bought through open market purchases at an average price of US$15.34 per share over the past year, demonstrating a commitment to shareholder returns.
Implementation of Automatic Share Purchase Plan
To facilitate its share repurchases, Fairfax India has entered into an Automatic Share Purchase Plan (ASPP) with a designated broker. This plan will enable the company to buy shares during times when it would generally refrain from market activity due to regulatory restrictions or internal blackout periods. The ASPP is set to become effective on September 30, 2025, and will run until the completion of the maximum annual purchase limit or the expiration of the Normal Course Issuer Bid.
About Fairfax India
Fairfax India is an investment holding company focused on achieving long-term capital appreciation while preserving capital. Its investment strategy includes a diversified approach to public and private equity securities and debt instruments, specifically within India and businesses reliant on the Indian economy.
Contact Information
For further inquiries, individuals may reach out to John Varnell, Vice President of Corporate Affairs, at (416) 367-4755.
Frequently Asked Questions
What is the purpose of the Normal Course Issuer Bid?
The bid aims to repurchase up to 5,551,115 Subordinate Voting Shares to enhance shareholder value.
When does the Normal Course Issuer Bid begin?
The issuer bid is set to commence on September 30, 2025.
What is the maximum number of shares Fairfax India can buy in a day?
The company may purchase up to 11,879 Subordinate Voting Shares per trading day.
How does the Automatic Share Purchase Plan work?
The ASPP allows Fairfax India to buy shares during regulatory blackout periods set by the firm.
Who can be contacted for more information?
John Varnell, Vice President of Corporate Affairs, is available at (416) 367-4755 for inquiries.
