Fairfax Announces Conversion of Debentures of Avante Logixx
17 Février 2022 - 11:02PM
Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and FFH.U)
announces that today it converted C$8,264,000 principal amount of
convertible debentures (the “Convertible Debentures”) of Avante
Logixx Inc. (“Avante”) into 5,297,436 common shares of Avante
(“Common Shares”). The Convertible Debentures were converted in
accordance with their terms at a price equal to C$1.56 per Common
Share.
As a result of the conversion, Fairfax
beneficially owns and controls (indirectly through its insurance
company subsidiaries) 5,297,436 Common Shares, representing 19.9%
of the issued and outstanding Common Shares and no longer
beneficially owns or controls any Convertible Debentures.
The Common Shares acquired on conversion of the
Convertible Debentures 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 (if
applicable), trade, dispose or otherwise deal in the securities of
Avante, in such manner as it deems advisable to benefit from
changes in market prices of Avante securities, publicly disclosed
changes in the operations of Avante, its business strategy or
prospects or from a material transaction of Avante.
An early warning report will be filed by Fairfax
in accordance with applicable securities laws and will be available
on SEDAR at www.sedar.com or may be obtained directly from Fairfax
upon request at the telephone number below.
Avante’s head and registered office is located
at 601-130 Bloor Street West, Toronto, Ontario, M5S 1N5.
Fairfax 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
Fairfax Financial (TSX:FFH)
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