Fairfax India Announces Changes to Annual Meeting

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TORONTO, March 16, 2020 (GLOBE NEWSWIRE) — Fairfax India Holdings Corporation (“Fairfax India”) (TSX: FIH.U), recognizing the widespread cancellation of public events as a protection of individual and public safety in the face of the COVID-19 pandemic, has cancelled the attendance of its directors and the officers of all of its investee companies at its April 16 annual meeting and has cancelled all booths and other events (dinners, etc.) originally contemplated for that meeting. Therefore, shareholders will not be able to attend the meeting in person.

There will be a webcast of the formal meeting and of a presentation by Prem Watsa, Fairfax India’s Chair and Chandran Ratnaswami, Fairfax India’s CEO, following the formal meeting and, potentially, a Q&A carried out through the webcast. Instructions for how to access the webcast will be published in the near future. Shareholders are encouraged to vote by proxy.

Mr. Watsa said, “Since our IPO, we have looked forward to meeting you, our loyal shareholders at our AGM and, with our investee company Presidents, answering all your questions.  This year, for your safety, and for the safety of all our employees from the global pandemic, we have, unfortunately, cancelled all our activities during our AGM.  However, for this year only, we will webcast our meeting and will look to have a format for questions and answers.  More on this soon. We will resume our normal annual meeting activities next year.”

Fairfax India is an investment holding company whose objective is to achieve long term capital appreciation, while preserving capital, by investing in public and private equity securities and debt instruments in India and Indian businesses or other businesses with customers, suppliers or business primarily conducted in, or dependent on, India.