Fairfax Financial (FRFHF) Holdings announced its intention to redeem all of its 7,515,642 outstanding Cumulative 5-Year Rate Reset Preferred Shares, Series C and all of its 2,484,358 outstanding Cumulative Floating Rate Preferred Shares, Series D on December 31, 2024 at a redemption price equal to C$25.00 per share, for an aggregate total amount of approximately C$250 million, together with all accrued and unpaid dividends up to but excluding the Redemption Date, less any tax required to be deducted and withheld by Fairfax. Formal notice will be delivered to the sole registered holder of the Preferred Shares in accordance with the terms of the Preferred Shares of the applicable series as set out in Fairfax’s articles. Separately from the Redemption Price, the final quarterly dividend of C$0.294313 per Series C Share will be paid in the usual manner to holders of Series C Shares on December 31, 2024, and the final quarterly dividend of C$0.47858 per Series D Share will be paid in the usual manner to holders of Series D Shares December 30, 2024, in each case to shareholders of record on December 13, 2024. Fairfax intends to use a portion of the net proceeds from the previously announced public offering of C$700 million aggregate principal amount of its Senior Notes to redeem the outstanding Preferred Shares.
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