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Odyssey Re Holdings Corp., 8.125% Series A Preferred Shares
Ticker Symbol: ORH-A* CUSIP: 67612W306 Exchange: NYSE
* NOTE: This security is no longer trading as of 10/20/2010
Security has been Called for: Wednesday, October 20, 2010
September 15, 2010 -- Odyssey Re Holdings Corp. announced today that it has called for redemption all of the outstanding shares of its 8.125% noncumulative Series A preferred stock and its floating rate noncumulative Series B preferred stock not owned by it or by other subsidiaries of Fairfax Financial Holdings Limited. The redemption date will be October 20, 2010, and the respective redemption prices, which will be paid in cash, will be $25.000 per Series A Preferred Share and $25.375 per Series B Preferred Share. Following the redemption, the Preferred Shares will be delisted from trading on the New York Stock Exchange. The NYSE will file a Form 25 with the Securities and Exchange Commission on or about October 20, 2010 to effect the delisting, and the delisting is expected to become effective ten days thereafter, on or about October 30, 2010. The Company will then terminate its obligation to file periodic reports under the Securities Exchange Act of 1934, as amended. In connection with the redemption, the Company will also file an application with Canadian securities regulators to cease its continuous disclosure obligations under Canadian securities laws. ____________ October 22, 2009 -- Fairfax Financial Holdings Limited (TSX:FFH)(NYSE:FFH) announced that its wholly-owned subsidiary has accepted for payment all of the shares of common stock ("Shares") of Odyssey Re Holdings Corp. ("Odyssey Re") (NYSE:ORH - News) validly tendered in response to the previously announced tender offer for all the outstanding Shares not already owned by Fairfax, and that payment for such Shares will be made promptly in accordance with the terms of the offer. The tender offer expired at 12:00 midnight, New York City time, on Wednesday, October 21, 2009. The depositary for the tender offer advised Fairfax that as of the expiration of the tender offer, a total of 14,335,361 Shares had been tendered, which includes 967,013 Shares subject to guaranteed delivery. The tendered Shares represent approximately 89% of the outstanding Shares not owned by Fairfax and satisfies the non-waivable majority of minority condition to the tender offer. Stockholders who have tendered their Shares will promptly receive $65.00 per Share. Upon purchase of the tendered shares, Fairfax will own approximately 97% of the 58,450,127 outstanding Shares.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Odyssey Re Holdings Corp., 8.125% Series A Preferred Shares, liquidation preference $25 per share, redeemable at the issuer's option on or after 10/20/2010 at $25 per share plus declared and unpaid dividends, with no stated maturity, and with non-cumulative distributions of 8.125% ($2.03125) per annum paid quarterly on 1/20, 4/20, 7/20 & 10/20 to holders of record on the last day of the month prior to the payment date or on the date fixed by the board, not more than 60 days or less than 10 days prior to the payment date. In regards to payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (FRFHF)
IPO - 10/14/2005 - 2.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: ORHAP Changed: 10/31/2005
Market Value $50.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 300 First Stamford Place, Stamford, CT 06902 |
| Main Phone Number |
203-977-8000 |
| Fax Number |
203-356-0196 |
| Investor Contact (CFO)
Robert Giammarco
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212-978-2803
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Toll Free Phone Number |
Unknown |
| CEO - Andrew A. Barnard |
CFO - Robert Giammarco |
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