26 Aug 2008 16:36
Not for release, publication or distribution, in whole or in part, in OR into the United States, Canada, Australia or Japan or any Jurisdiction if to do so would constitute a violation of the relevant laws of such Jurisdiction.
Fairfax Financial Holdings Limited
26 August 2008
Fairfax Financial Holdings Limited ("Fairfax") cash offer for Advent Capital (Holdings) PLC ("Advent")
Offer Update
On 21 August 2008 the Fairfax Board was notified by Amber Master Fund (Cayman) SPC that it would no longer be able to comply with the terms of its letter of intent dated 28 July 2008 in respect of 2,421,590 Advent shares.
Amber Master Fund (Cayman) SPC made two separate announcements at 1.40 p.m. on 21 August 2008 and 1.05 p.m. on 22 August 2008 relating to disposals of its shares in Advent of 1,315,130 Advent shares and 1,106,460 Advent shares respectively.
Enquiries:
| Fairfax Financial Holdings Limited Greg Taylor - Chief Financial Officer +1 416 367 4941 Merrill Lynch International +44 (0) 20 7628 1000 Matthew Watkins Paul Frankfurt Merrill Lynch, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Fairfax and no one else in connection with the Offer and will not be responsible to anyone other than Fairfax for providing the protections afforded to its customers or for providing advice in relation to the Offer or in relation to the contents of this announcement or any transaction or arrangement referred to herein. This announcement is not intended to and does not constitute, or form any part of, an offer or an invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction pursuant to the Offer or otherwise. The Offer will be made solely through the Offer Document and, in the case of certificated Advent Shares, the Form of Acceptance, which, when issued, will together contain the full terms and conditions of the Offer, including details of how to accept the Offer. Any acceptance or other response to the Offer should be made only on the basis of the information contained in the Offer Document and, in the case of certificated Advent Shares, the Form of Acceptance. The Fairfax Directors accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the Fairfax Directors (who have taken all reasonable care to ensure this is the case), the information contained in this announcement for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information. |