Subordinate Voting Shares
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Fairfax India Announces Intention to Make a Normal Course Issuer Bid
Globenewswire· 2025-09-26 11:50
Core Points - Fairfax India Holdings Corporation has announced its intention to commence a Normal Course Issuer Bid for its Subordinate Voting Shares effective September 30, 2025 [1][2] - The board of directors has approved the purchase of up to 5,551,115 Subordinate Voting Shares, representing approximately 10% of the public float as of September 16, 2025 [2][3] - Fairfax India believes that its Subordinate Voting Shares represent an attractive investment opportunity and that the purchases will enhance the value for remaining shareholders [3] Purchase Details - The company may purchase up to 11,879 Subordinate Voting Shares on any trading day, which is 25% of the average daily trading volume over the past six months [2] - Under its existing Normal Course Issuer Bid, Fairfax India has purchased 356,465 Subordinate Voting Shares at a volume weighted average price of US$15.34 [4] - An automatic share purchase plan (ASPP) has been established to facilitate purchases during regulatory black-out periods [5][6] Company Overview - Fairfax India is an investment holding company focused on long-term capital appreciation by investing in public and private equity securities and debt instruments primarily in India [7]
Intention to Make a Normal Course Issuer Bid for Subordinate Voting Shares and Preferred Shares
Globenewswire· 2025-09-26 11:45
Core Viewpoint - Fairfax Financial Holdings Limited has announced its intention to commence a Normal Course Issuer Bid (NCIB) for its Subordinate Voting Shares and specific series of Preferred Shares, believing these represent an attractive investment opportunity [1][3]. Summary by Sections NCIB Details - The NCIB will commence on September 30, 2025, and end on September 29, 2026, allowing for the purchase of Subordinate Voting Shares and Preferred Shares up to specified limits [2]. - The limits on purchases are as follows: - Subordinate Voting Shares: 22,477,575 outstanding, with a total limit of 2,187,316 and a daily limit of 11,371 [2]. - Series I Shares: 10,420,101 outstanding, with a total limit of 1,042,010 and a daily limit of 3,424 [2]. - Series J Shares: 1,579,899 outstanding, with a total limit of 157,989 and a daily limit of 1,000 [2]. - Series K Shares: 9,500,000 outstanding, with a total limit of 950,000 and a daily limit of 1,571 [2]. Previous NCIB Performance - Under its existing NCIB, Fairfax has purchased 837,057 Subordinate Voting Shares at an average price of Cdn.$2,090.47, with no Preferred Shares purchased [4]. Automatic Share Purchase Plan (ASPP) - Fairfax has entered into an ASPP with a designated broker to facilitate purchases during regulatory restrictions or internal trading black-out periods [5]. - The ASPP will be effective from September 30, 2025, and will terminate upon reaching the maximum purchase limit, expiration of the NCIB, or termination by Fairfax [7]. Company Overview - Fairfax is primarily engaged in property and casualty insurance and reinsurance, along with associated investment management through its subsidiaries [8].
Colliers Announces Normal Course Issuer Bid
Globenewswire· 2025-05-07 11:30
Core Viewpoint - Colliers International Group Inc. has announced its intention to initiate a normal course issuer bid (NCIB) for its subordinate voting shares, allowing for the purchase of up to 4,300,000 shares over a twelve-month period, which represents approximately 10% of the public float as of April 30, 2025 [1][2]. Group 1: NCIB Details - The NCIB will commence on May 9, 2025, and conclude no later than May 8, 2026, with purchases made through the TSX, alternative Canadian Trading Systems, or Nasdaq [2]. - Colliers may purchase up to 4,300,000 subordinate voting shares, which is about 10% of the 43,457,718 shares in the public float as of April 30, 2025 [2]. - Daily purchases under the NCIB will be limited to 13,777 subordinate voting shares, excluding block purchases, based on the average daily trading volume of 55,111 shares from November 1, 2024, to April 30, 2025 [2]. Group 2: Previous NCIB and Management Strategy - The previous NCIB authorized the purchase of up to 4,000,000 subordinate voting shares and expired on July 19, 2024, with no shares purchased under that program [4]. - Colliers may decide to purchase shares if it finds the market price attractive and believes it is a suitable use of corporate funds [3]. Group 3: Broker and Purchase Plan - BMO Nesbitt Burns Inc. has been appointed as the designated broker for the NCIB, and an automatic share purchase plan (ASPP) has been established to facilitate purchases during regulatory black-out periods [5]. - The ASPP has been pre-cleared by the TSX and will be effective starting May 9, 2025 [5]. Group 4: Company Overview - Colliers is a global diversified professional services and investment management company, with nearly $5.0 billion in annual revenues and over $100 billion in assets under management [6]. - The company operates through three platforms: Real Estate Services, Engineering, and Investment Management, and has consistently delivered approximately 20% compound annual returns for shareholders over the past 30 years [6].