Fairfax Financial Limited Discloses 10% of Apr Energy PLC (APR)’s Voting Rights; Weiss Asset Management Ups Stake in CQS DIVERSIFIED FUND LIMITED ORD NPV £ (CQS)

In a recent filing, Prem Watsa‘s Canada-based hedge fund, Fairfax Financial Limited, reported holding indirectly around 9.9 million voting rights in Apr Energy PLC (LON:APR). The stake represents some 10.5% of the company’s total voting rights. While Fairfax directly doesn’t hold any shares, the shares covering the voting rights comprising the stake are held by United States Fire Insurance Company, Odyssey Reinsurance Company, Zenith Insurance Company, and RiverStone Insurance (UK) Limited, among others. Previously Fairfax held some 9.22 million shares of Apr Energy.

Prem Watsa

Apr Energy PLC (LON:APR) is listed on the London Stock Exchange and is a company engaged in providing fast-track energy solutions. The company provides turnkey power plants that help its customers to temporarily solve energy problems. Recently, the company has announced that it set up an 10 megawatt power generation plant in Myanmar, that will be able to provide electricity to over six million people. Taking into account that Myanmar, also known as Burma, has only recently emerged from a civil war and the world powers have lifted their sanctions only last year, the country is only know begining to be targeted by western investors. In addition, the country is rich in oil, gas and other minerals, and is considered a very fast growing economy. In this way, Apr Energy PLC (LON:APR)’s substantial investment in the country is not only a good opportunity for the company, but will also contribute to the economic development on Myanmar, which makes Apr Energy PLC (LON:APR) a good investment opportunity.

In addition, in August Apr Energy PLC (LON:APR) signed a contract with Australia-based Horizon Power for the delivery of a peaking power plant in the country that will run on natural gas.

In another filing, Andrew Weiss‘ Weiss Asset Management revealed upping the stake in another LSE-listed company, CQS DIVERSIFIED FUND LIMITED ORD NPV £ (LON:CQS). The stake has been increased to 16.04 million shares, from around 13.29 million shares held previously. Following the increase, Weiss holds 17.41% of CQS DIVERSIFIED FUND LIMITED ORD NPV £ (LON:CQS)’s voting rights.

Disclosure: none

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