Atlas Mara Limited

Fairfax Africa Holdings Corporation: Third Quarter Financial Results

Retrieved on: 
Thursday, October 29, 2020

The financial results are prepared using the recognition and measurement requirements of International Financial Reporting Standards, except as otherwise noted, and are unaudited.)

Key Points: 
  • The financial results are prepared using the recognition and measurement requirements of International Financial Reporting Standards, except as otherwise noted, and are unaudited.)
  • The special meeting of shareholders of Fairfax Africa to consider the strategic transaction is scheduled for December 4, 2020.
  • In connection with the Strategic Transaction, Fairfax Africa will sell its 42.3% equity interest in Atlas Mara to Fairfax for an aggregate purchase price of $40 million.
  • As a result of these agreements, Fairfax Africa has recorded a net change in unrealized gains on investments of $28.2 million.

Fairfax Africa Holdings Corporation: Second Quarter Financial Results

Retrieved on: 
Thursday, July 30, 2020

The financial results are prepared using the recognition and measurement requirements of International Financial Reporting Standards, except as otherwise noted, and are unaudited.)

Key Points: 
  • The financial results are prepared using the recognition and measurement requirements of International Financial Reporting Standards, except as otherwise noted, and are unaudited.)
  • TORONTO, July 30, 2020 (GLOBE NEWSWIRE) -- Fairfax Africa Holdings Corporation (TSX: FAH.U) announces a net loss of $4.2 million in the second quarter of 2020 ($0.07 net loss per diluted share), compared to a net loss of $16.2 million in the second quarter of 2019 ($0.27net loss per diluted share), reflecting decreased net unrealized losses on investments in the quarter.
  • In connection with the Transaction, Fairfax Africa will sell its 42.4% equity interest in Atlas Mara to Fairfax for an aggregate purchase price of $40 million.
  • We believe this partnership will be good for Africa, the shareholders of Fairfax Africa and Helios and the employees of both organizations," said Prem Watsa, Chairman and CEO of Fairfax Financial Holdings Limited.

Fairfax Africa Holdings Corporation: First Quarter Financial Results

Retrieved on: 
Thursday, April 30, 2020

The financial results are prepared using the recognition and measurement requirements of International Financial Reporting Standards, except as otherwise noted, and are unaudited.)

Key Points: 
  • The financial results are prepared using the recognition and measurement requirements of International Financial Reporting Standards, except as otherwise noted, and are unaudited.)
  • On February 28, 2020 Fairfax Africa invested an additional $3.1 million (49.3 million South African rand) in GroCapital Holdings.
  • On March 30, 2020 the company entered into a secured lending arrangement with Atlas Mara pursuant to which Fairfax Africa agreed to provide up to $40.0 million of financing.
  • During this period of uncertainty, Fairfax Africa remains in strong financial health, with sufficient undeployed cash and marketable securities.