Business News • MarketWire • Fairfax Calls Special Shareholders' Meeting to Consider Amendment to Terms of Multiple Voting Shares |
Fairfax Calls Special Shareholders' Meeting to Consider Amendment to Terms of Multiple Voting Shares |
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Fairfax Calls Special Shareholders' Meeting to Consider Amendment to Terms of Multiple Voting Shares
TORONTO, ONTARIO--(Marketwired - June 12, 2015) - Fairfax Financial Holdings Limited (TSX:FFH)(TSX:FFH.U) announces that it is calling a special meeting of its shareholders to be held on July 21, 2015 to vote on a proposed amendment to its articles to preserve the current 41.8% voting power of its multiple voting shares, which are controlled by V. Prem Watsa, Fairfax's Chairman and Chief Executive Officer, and to make certain additional changes, including memorializing that the holder of the multiple voting shares will never be able to profit, or receive any premium or benefit, from the special voting rights attached to the multiple voting shares. This proposal is the result of a careful and thorough Board process conducted under the supervision of an independently advised special committee of independent directors. The Special Committee and the Board have both unanimously recommended that shareholders vote in favour of the proposal.
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