The Keg Royalties Income Fund Obtains Unitholder Approval for the Transaction with Fairfax
VANCOUVER, British Columbia, Aug. 01, 2025 (GLOBE NEWSWIRE) — The Keg Royalties Income Fund (the 'Fund') (TSX: KEG.UN) is pleased to announce that, at its special meeting ('Meeting') of the unitholders ('Unitholders') and holders of securities exchangeable into units (the 'Exchangeable Unitholders') of the Fund (the 'Units') held earlier today, Unitholders and Exchangeable Unitholders voted overwhelmingly in favour of the proposed acquisition by 1543965 B.C. Ltd. (the 'Purchaser'), a subsidiary of Fairfax Financial Holdings Limited (the 'Parent') of all of the issued and outstanding units of the Fund not otherwise owned by it and its affiliates (collectively, 'Fairfax') for a price of $18.60 per Unit (the 'Consideration'), payable in cash by way of a statutory plan of arrangement under the Business Corporations Act (British Columbia) in accordance with the arrangement agreement dated June 16, 2025 among the Fund, the Purchaser and the Parent (the 'Arrangement Agreement', and such acquisition and the other transactions contemplated in the Arrangement Agreement, the 'Transaction'). The Arrangement Agreement provides that in addition to the Consideration, Unitholders will be entitled to receive a prorated monthly distribution for the month in which the closing occurs, as well as a special cash distribution based on the Fund's historical practice of paying annual special distributions, with such special cash distribution being set at $0.055 per Unit for the 2025 fiscal year, prorated for the portion of the fiscal year completed as of the closing of the Transaction.
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