Fairfax to Sell a Portion of Tembec

Fairfax Financial Holdings Limited (“Fairfax”) (TSX:FFH)(TSX:FFH.U) announced that it has sold, through its subsidiaries, 3,122,050 common shares (the “Shares”) of Tembec Inc. (“Tembec”), representing approximately 3.1% of the issued and outstanding Shares. The Shares were sold over the facilities of the Toronto Stock Exchange between June 12th and 15th at an average price of approximately $4.30 per Share. Fairfax, through its subsidiaries, continues to hold 14,235,644 Shares, representing approximately 14.2% of the issued and outstanding Shares.

Fairfax holds the Shares for investment purposes and, in the future, it may discuss with management and the board of directors of Tembec any of the transactions listed in clauses (a) to (k) of item 5 of 62-103F1 and may further purchase, hold, vote, trade, dispose or otherwise deal in the Shares, in such manner as it deems advisable to benefit from changes in market prices of such securities, publicly disclosed changes in the operations of Tembec, its business strategy or prospects or from any sale, merger or other material transaction involving Tembec.

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 directly from Fairfax.

Fairfax is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management.

Fairfax’s registered and head office is located at 95 Wellington Street West, Suite 800, Toronto, Ontario M5J 2N7.

Subscribe

The Canadian Business Quarterly (The CBQ) provides an in-depth view of business and economic development issues taking place across the country. Featuring interviews with top executives, government policy makers and prominent industry bodies The CBQ examines the news beyond the headlines to uncover the drivers of local, provincial, and national affairs.

All copy appearing in The Canadian Business Quarterly is copyrighted. Reproduction in whole or part is not permitted without written permission. Any financial advice published in The Canadian Business Quarterly or on www.thecbq.ca has been prepared without taking in to account the objectives, financial situation or needs of any reader. Neither The Canadian Business Quarterly nor the publisher nor any of its employees hold any responsibility for any losses and or injury incurred (if any) by acting on information provided in this magazine or website. All opinions expressed are held solely by the contributors and are not endorsed by The Canadian Business Quarterly or www.thecbq.ca.

All reasonable care is taken to ensure truth and accuracy, but neither the editor nor the publisher can be held responsible for errors or omissions in articles, advertising, photographs or illustrations. Unsolicited manuscripts are welcome but cannot be returned without a stamped, self-addressed envelope. The publisher is not responsible for material submitted for consideration. The CBQ is published by Romulus Rising Pty Ltd, ABN: 77 601 723 111.

Subscribe

© 2023 The Canadian Business Quarterly. All rights reserved. A division of Romulus Rising Pty Ltd, an Australian media company (www.RomulusRising.com).