Author Topic: Fairfax 2018  (Read 68583 times)

ourkid8

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Re: Fairfax 2018
« Reply #330 on: April 10, 2018, 02:00:11 PM »
With the redemption of their high yielding debt and issuing new debt at 3%, we have ~$16-18M in savings a year so far...  Great job team, keep it coming!!!

https://ca.finance.yahoo.com/news/fairfax-announces-early-redemption-allied-202313339.html


petec

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Re: Fairfax 2018
« Reply #331 on: April 10, 2018, 02:07:20 PM »
Yes! Although there is a charge on the early redemption I believe, so it's not free money.

tripleoptician

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Re: Fairfax 2018
« Reply #332 on: April 11, 2018, 08:00:21 AM »

Look like around 42,000 shares cancelled in this quarter.

Prices look to be sub $640 CAD so approximate spend was $26-27 million CAD on buybacks.

Not horrendous but certainly not a dramatic buyback given the dry powder.


tripleoptician

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Re: Fairfax 2018
« Reply #333 on: April 11, 2018, 08:01:43 AM »
Here is a link for those that dont know about the canadian insider website that tracks filings

https://m.canadianinsider.com/node/7?ticker=FFH

ourkid8

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Re: Fairfax 2018
« Reply #334 on: April 11, 2018, 12:37:22 PM »
This is great, thanks!  Am I reading this correctly? 

March 28 - Fairfax disposed of -41,611  -What does this mean?
March 27 - Fairfax acquired 7,318 ($637.83)
March 26 - Fairfax acquired 14,293 ($633.83)

Here is a link for those that dont know about the canadian insider website that tracks filings

https://m.canadianinsider.com/node/7?ticker=FFH

Dynamic

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Re: Fairfax 2018
« Reply #335 on: April 11, 2018, 01:19:46 PM »
I read it as:

Quote
Mar 28, 2018 (filed on Apr 10, 2018)
Nature of Transaction:38 - Redemption, retraction, cancellation, repurchase
# or value acquired/disposed of:-41,611
Price:--

If it's negative and the price is -- (blank) I would assume it's cancellation of treasury shares.

The other dates you showed with positive numbers of shares were presumably repurchased by Fairfax at the price shown but hadn't yet been cancelled.

ourkid8

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Re: Fairfax 2018
« Reply #336 on: April 12, 2018, 11:39:32 AM »
Thank you, this is extremely helpful.  I looked back at the filings for 2018 and they repurchased a total of 41,611 shares and all of them were cancelled.  This board is amazing, you learn something new everyday.

I read it as:

Quote
Mar 28, 2018 (filed on Apr 10, 2018)
Nature of Transaction:38 - Redemption, retraction, cancellation, repurchase
# or value acquired/disposed of:-41,611
Price:--

If it's negative and the price is -- (blank) I would assume it's cancellation of treasury shares.

The other dates you showed with positive numbers of shares were presumably repurchased by Fairfax at the price shown but hadn't yet been cancelled.
« Last Edit: April 12, 2018, 05:30:54 PM by ourkid8 »

globalfinancepartners

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Re: Fairfax 2018
« Reply #337 on: April 12, 2018, 06:32:10 PM »

Dazel

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Re: Fairfax 2018
« Reply #338 on: April 12, 2018, 07:14:02 PM »

It’s is usual to see companies show the redemption of their shares at month end...in this case Fairfax redeemed and cancelled 41,000 shares. I have had trouble finding Fairfax buyback action in the past. Nice to see the share buy back kicking in!

ourkid8

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Re: Fairfax 2018
« Reply #339 on: April 24, 2018, 03:08:43 PM »
Prem continues to show how undervalued Fairfax is...

https://www.fairfax.ca/news/press-releases/press-release-details/2018/First-Quarter-Accounting-Gain/default.aspx

Accordingly, Fairfax must also change the manner in which it accounts for its ownership interest in Quess through TCIL from a subsidiary to an investment in an associate company.  This change in accounting will result in a non-cash accounting gain at Fairfax of approximately US$600 million in Fairfax’s first quarter ended March 31, 2018.