Mr. John Varnell of Fairfax reports
FAIRFAX ANNOUNCES ACQUISITION OF ADDITIONAL ENSIGN ENERGY SERVICES INC. COMMON SHARES
Fairfax Financial Holdings Ltd. has acquired, through its insurance company subsidiaries, 271,100 common shares of Ensign Energy Services Inc. at a price of $2.4238 per common share for an aggregate purchase price of approximately $657,092.18 through the facilities of the Toronto Stock Exchange.
The share purchase represents approximately 0.15 per cent of the issued and outstanding common shares of Ensign and brings Fairfax's total holding, through its insurance company subsidiaries, of such securities to 33,406,386 common shares (or approximately 18.19 per cent of all common shares). Immediately prior to the share purchase, Fairfax, through its insurance company subsidiaries, beneficially owned and controlled 33,135,286 common shares, representing approximately 18.04 per cent of the issued and outstanding common shares of Ensign.
The common shares 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, trade, dispose or otherwise deal in the securities of Ensign, in such manner as it deems advisable to benefit from changes in market prices of Ensign securities, publicly disclosed changes in the operations of Ensign, its business strategy or prospects, or from a material transaction of Ensign, and it will also consider the availability of funds, the evaluation of alternative investments and other factors.
An early warning report will be filed by Fairfax, in accordance with applicable securities laws, and will be available on SEDAR+, or may be obtained directly from John Varnell, vice-president of corporate development, Fairfax, upon request at 416-367-4941.
Ensign's head and registered office is located at 601, 130 Bloor St. West, Toronto, Ont., M5S 1N5.
About Fairfax Financial Holdings Ltd.
Fairfax is a corporation continued under the Canada Business Corporations Act and is a holding company which, through its subsidiaries, is primarily engaged in property and casualty insurance and reinsurance as well as the associated investment management.
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