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Hamblin Watsa Investment Counsel Ltd., a subsidiary of Fairfax Financial Holdings Limited, notified Metlen Energy & Metals PLC of a change in its major holdings, crossing a notification threshold on August 29, 2025. This resulted in Hamblin Watsa Investment Counsel Ltd. holding 8.346943% of Metlen Energy & Metals PLC's voting rights, totaling 11,938,047 votes, a decrease from its previously notified position of 9.252560%.
| Date | 3 Sept 2025 |
| Time | 12:30:00 |
| Category | Holding(s) in company |
| ID | 8614X |
TR-1: Standard form for notification of major holdings
1. Issuer Details
ISIN
GB00BTQGS779
Issuer Name
METLEN ENERGY & METALS PLC
UK or Non-UK Issuer
UK
2. Reason for Notification
An event changing the breakdown of voting rights
3. Details of person subject to the notification obligation
Name
Hamblin Watsa Investment Counsel Ltd.
City of registered office (if applicable)
Toronto
Country of registered office (if applicable)
Canada
4. Details of the shareholder
|
Name |
City of registered office |
Country of registered office |
|
Newline Insurance Company Limited |
London |
United Kingdom |
|
Brit Reinsurance (Bermuda) Limited |
Hamilton |
Bermuda |
|
The North River Insurance Company |
New Jersey |
USA |
|
United States Fire Insurance Company |
Delaware |
USA |
|
Hudson Insurance Company |
Delaware |
USA |
|
Hudson Excess Insurance Company |
Delaware |
USA |
|
Trustees of Newline Syndicate 1218 |
London |
United Kingdom |
|
Newline Europe Versicherung AG |
Köln |
Germany |
|
Odyssey Reinsurance Company |
Connecticut |
USA |
|
Odyssey Reinsurance (Barbados) Ltd. |
Saint Michael |
Barbados |
|
Eurolife FFH Life Insurance Single Member S.A. |
Athens |
Greece |
|
Eurolife FFH General Insurance Single Member S.A. |
Athens |
Greece |
|
Zenith Insurance Company (US) |
California |
USA |
|
Northbridge General Insurance Corporation |
Toronto |
Canada |
|
HWIC Value Opportunities Fund |
Dublin |
Ireland |
5. Date on which the threshold was crossed or reached
29-Aug-2025
6. Date on which Issuer notified
02-Sep-2025
7. Total positions of person(s) subject to the notification obligation
|
% of voting rights attached to shares (total of 8.A) |
% of voting rights through financial instruments (total of 8.B 1 + 8.B 2) |
Total of both in % (8.A + 8.B) |
Total number of voting rights held in issuer |
|
|
Resulting situation on the date on which threshold was crossed or reached |
8.346943 |
0.000000 |
8.346943 |
11938047 |
|
Position of previous notification (if applicable) |
9.252560 |
0.000000 |
9.252560 |
|
8. Notified details of the resulting situation on the date on which the threshold was crossed or reached
8A. Voting rights attached to shares
|
Class/Type of shares ISIN code(if possible) |
Number of direct voting rights (DTR5.1) |
Number of indirect voting rights (DTR5.2.1) |
% of direct voting rights (DTR5.1) |
% of indirect voting rights (DTR5.2.1) |
|
GB00BTQGS779 |
0 |
11938047 |
0.000000 |
8.346943 |
|
Sub Total 8.A |
11938047 |
8.346943% |
||
8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))
|
Type of financial instrument |
Expiration date |
Exercise/conversion period |
Number of voting rights that may be acquired if the instrument is exercised/converted |
% of voting rights |
|
|
|
|
|
|
|
Sub Total 8.B1 |
|
|
|
|
8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))
|
Type of financial instrument |
Expiration date |
Exercise/conversion period |
Physical or cash settlement |
Number of voting rights |
% of voting rights |
|
|
|
|
|
|
|
|
Sub Total 8.B2 |
|
|
|
||
9. Information in relation to the person subject to the notification obligation
2. Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entities (please add additional rows as necessary)
|
Ultimate controlling person |
Name of controlled undertaking |
% of voting rights if it equals or is higher than the notifiable threshold |
% of voting rights through financial instruments if it equals or is higher than the notifiable threshold |
Total of both if it equals or is higher than the notifiable threshold |
|
Fairfax Financial Holdings Limited |
Hamblin Watsa Investment Counsel Ltd. |
8.346943 |
0.000000 |
8.346943% |
10. In case of proxy voting
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional Information
Hamblin Watsa Investment Counsel Ltd. (a wholly owned subsidiary of Fairfax Financial Holdings Limited) acts as the investment manager for each of the subsidiaries listed at section 4 above (the ''Shareholders'') and certain other subsidiaries of Fairfax Financial Holdings Limited. Pursuant to certain investment management agreements with the Shareholders, Hamblin Watsa Investment Counsel Ltd. has control and discretion over the voting rights attaching to the shares of Metlen Energy & Metals Plc owned by the Shareholders. The Shareholders are direct or indirect subsidiaries of Fairfax Financial Holdings Limited.
12. Date of Completion
02-Sep-2025
13. Place Of Completion
United Kingdom