LOMBARD GENERAL INSURANCE CO OF CANADA 4
4 · HUB INTERNATIONAL LTD · Filed Jul 11, 2006
Insider Transaction Report
Form 4
FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
10% Owner
Transactions
- Conversion
Common Shares
2006-06-29+1,145,221→ 9,180,207 total(indirect: See Footnote) - Conversion
8.5% Convertible Subordinated Debentures
2006-06-29(indirect: See Footnote)From: 2006-06-29Exp: 2007-06-27→ Common Shares (1,145,221 underlying)
Footnotes (8)
- [F1]This Form 4 is being filed to report the conversion of $17,500,000 aggregate principal amount of 8.5% Subordinated Convertible Debentures ("Debentures") of Hub International Limited ("Hub") on June 29, 2006 into 1,145,221 common shares of Hub ("Common Shares") by each of Lombard General Insurance Company of Canada ("Lombard") and Clearwater Insurance Company ("Clearwater").
- [F2]1,161,781 Common Shares are held by Markel Insurance Company of Canada ("Markel"); 950,110 Common Shares are held by Commonwealth Insurance Company of Canada ("Commonwealth"); 2,695,376 Common Shares are held by Lombard ; 257,875 Common Shares are held by Fairfax Financial Holdings Limited; and 5,260,286 Common Shares are held by Clearwater. Markel, Commonwealth and Lombard are each wholly owned subsidiaries of Northbridge Financial Corporation ("Northbridge") and, as a result, Northbridge beneficially owns 4,807,267 Common Shares.
- [F3]The conversion price of the U.S. dollar denominated Debentures was fixed at Cdn$17.00. $15.28 is the U.S. dollar equivalent based on a formula set forth in the indenture under which the Debentures were issued.
- [F4]Lombard converted $17,500,000 aggregate principal amount of Debentures into 1,145,221 Common Shares.
- [F5]Clearwater converted $17,500,000 aggregate principal amount of Debentures into 1,145,221 Common Shares.
- [F6]Not applicable
- [F7]$17,500,000 aggregate principal amount of Debentures
- [F8]Prior to the transactions reported on this Form 4, Lombard and Clearwater each held $17,500,000 aggregate principal amount of Debentures. All such Debentures were converted into Common Shares in such transactions.