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TORONTO, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Fairfax India Holdings Corporation (“Fairfax India” or the “Company”) (TSX: FIH.U) is pleased to announce the voting results from its special meeting of shareholders held on January 28, 2025 (the “Special Meeting”) in connection with a proposed one-time deviation from the Company’s investment concentration restriction set forth in its by-laws (the “Investment Concentration Restriction”) in order to complete the previously announced acquisition of an additional 10% equity interest in Bangalore International Airport Limited (the “Additional BIAL Investment”).

The special resolution to approve the one-time deviation from the Investment Concentration Restriction required the approval of the holders of multiple voting shares and subordinate voting shares of the Company, each voting separately as a class. At the Special Meeting, the special resolution was approved by (i) 100% of the votes cast by holders of multiple voting shares, and (ii) approximately 99% of the votes cast by holders of subordinate voting shares.

Completion of the Additional BIAL Investment remains subject to receipt of applicable third party consents and other customary closing conditions. Assuming that the remaining conditions to closing are satisfied, it is expected that the Additional BIAL Investment will close in Q1 2025.

About Fairfax India

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.

This press release may contain forward-looking statements within the meaning of applicable securities legislation. Forward-looking statements may relate to the Company’s or an Indian Investment’s future outlook and anticipated events or results and may include statements regarding the financial position, business strategy, growth strategy, budgets, operations, financial results, taxes, dividends, plans and objectives of the Company. Particularly, statements regarding future results, performance, achievements, prospects or opportunities of the Company, an Indian Investment, or the Indian market are forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”.