SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 6)*
Russel Metals Inc.
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(Name of Issuer)
Common Shares
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(Title of Class of Securities)
781903604
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(CUSIP Number)
December 31, 2001
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act.
CUSIP NO. 781903604
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1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of Above Persons
V. Prem Watsa
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(No S.S. or I.R.S. Identification Nos.)
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b) X . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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3) SEC Use Only . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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4) Citizenship or Place of Organization Canada
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Number of Shares (5) Sole Voting Power -0-
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Beneficially Owned
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by Each Reporting (6) Shared Voting Power 9,358,200
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Person With
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(7) Sole Dispositive Power -0-
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(8) Shared Dispositive Power 9,358,200
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9) Aggregate Amount Beneficially Owned by Each Reporting Person 9,358,200
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10) Check if the Aggregate Amount in Row (9) Excludes Certain
Shares (See Instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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11) Percent of Class Represented by Amount in Row 9 24.6%
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12) Type of Reporting Person (See Instructions) IN (Canadian)
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2(1)
CUSIP NO. 781903604
---------------
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1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of Above Persons
The Sixty Two Investment Company Limited
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(No S.S. or I.R.S. Identification Nos.)
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b) X . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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3) SEC Use Only . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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4) Citizenship or Place of Organization British Columbia, Canada
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Number of Shares (5) Sole Voting Power -0-
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Beneficially Owned
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by Each Reporting (6) Shared Voting Power 9,358,200
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Person With
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(7) Sole Dispositive Power -0-
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(8) Shared Dispositive Power 9,358,200
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9) Aggregate Amount Beneficially Owned by Each Reporting Person 9,358,200
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10) Check if the Aggregate Amount in Row (9) Excludes Certain
Shares (See Instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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11) Percent of Class Represented by Amount in Row 9 24.6%
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12) Type of Reporting Person (See Instructions) CO (Canadian)
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2(2)
CUSIP NO. 781903604
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1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of Above Persons
810679 Ontario Ltd.
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(No S.S. or I.R.S. Identification Nos.)
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b) X . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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3) SEC Use Only . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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4) Citizenship or Place of Organization Ontario, Canada
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Number of Shares (5) Sole Voting Power -0-
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Beneficially Owned
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by Each Reporting (6) Shared Voting Power 9,358,200
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Person With
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(7) Sole Dispositive Power -0-
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(8) Shared Dispositive Power 9,358,200
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9) Aggregate Amount Beneficially Owned by Each Reporting Person 9,358,200
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10) Check if the Aggregate Amount in Row (9) Excludes Certain
Shares (See Instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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11) Percent of Class Represented by Amount in Row 9 24.6%
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12) Type of Reporting Person (See Instructions) CO (Canadian)
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2(3)
CUSIP NO. 781903604
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1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of Above Persons
Fairfax Financial Holdings Limited
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(No S.S. or I.R.S. Identification Nos.)
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b) X . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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3) SEC Use Only . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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4) Citizenship or Place of Organization Canada
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Number of Shares (5) Sole Voting Power -0-
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Beneficially Owned
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by Each Reporting (6) Shared Voting Power 9,358,200
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Person With
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(7) Sole Dispositive Power -0-
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(8) Shared Dispositive Power 9,358,200
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9) Aggregate Amount Beneficially Owned by Each Reporting Person 9,358,200
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10) Check if the Aggregate Amount in Row (9) Excludes Certain
Shares (See Instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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11) Percent of Class Represented by Amount in Row 9 24.6%
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12) Type of Reporting Person (See Instructions) HC (Canadian)
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2(4)
CUSIP NO. 781903604
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1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of Above Persons
Hamblin Watsa Investment Counsel Ltd.
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(No S.S. or I.R.S. Identification Nos.)
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b) X . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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3) SEC Use Only . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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4) Citizenship or Place of Organization Canada
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Number of Shares (5) Sole Voting Power -0-
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Beneficially Owned
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by Each Reporting (6) Shared Voting Power 9,358,200
--------------------------------------------------
Person With
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(7) Sole Dispositive Power -0-
------------------------------------------------
(8) Shared Dispositive Power 9,358,200
---------------------------------------------
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9) Aggregate Amount Beneficially Owned by Each Reporting Person 9,358,200
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10) Check if the Aggregate Amount in Row (9) Excludes Certain
Shares (See Instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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11) Percent of Class Represented by Amount in Row 9 24.6%
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12) Type of Reporting Person (See Instructions) CO and IA (Canadian)
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2(5)
ITEM 1(a)
Name of Issuer: Russel Metals Inc.
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ITEM 1(b)
Address of Issuer's Principal Executive Offices: 1900 Minnesota Court, Suite
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210, Mississauga, Ontario, Canada L5N 3C9
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ITEM 2(a)
Names of Persons Filing: V. Prem Watsa, The Sixty Two Investment Company
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Limited, 810679 Ontario Ltd., Fairfax Financial Holdings Limited and Hamblin
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Watsa Investment Counsel Ltd. (See Note 1 below)
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ITEM 2(b)
Address of Principal Business Office or, if none, Residence:
95 Wellington Street West, Suite 802, Toronto, Ontario, Canada M5J 2N7
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ITEM 2(c)
Citizenship: Canada
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ITEM 2(d)
Title of Class of Securities: Common Shares
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ITEM 2(e)
CUSIP Number: 781903604
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ITEM 3
If this statement is filed pursuant to Rule 13d-1(b), check whether the person
filing is a:
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Note 1: Mr. Watsa, The Sixty Two Investment Company Limited, 810679
Ontario Ltd. and Hamblin Watsa Investment Counsel Ltd. are
filing this Schedule 13G pursuant to a no-action letter
dated June 8, 1994 from the Commission to Fairfax Financial
Holdings Limited.
4
(a) [ ] Broker or Dealer registered under Section 15 of the Act
(b) [ ] Bank as defined in Section 3(a)(6) of the Act
(c) [ ] Insurance Company as defined in Section 3(a)(19) of the
Act
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act
(e) [ ] Investment Adviser in accordance with Section
240.13d-1(b)(1)(ii)(E)
(f) [ ] Employee Benefit Plan or Endowment Fund in accordance
with ss.240.13d-1(b)(1)(ii)(F)
(g) [X] Parent Holding Company or Control Person in accordance
with ss.240.13d-1(b)(ii)(G) (See Note 2 below)
(h) [ ] A savings associations as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813);
(i) [ ] A church plan that is excluded from the definition of an
3(c)(14) of the Investment Company Act of 1940 (15 U.S.C.
80a-3);
(j) [ ] Group, in accordance with ss.240.13d-1(b)(1)(ii)(J)
ITEM 4
Ownership.
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Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount Beneficially Owned:
9,358,200
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(b) Percent of Class:
24.6%
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(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote -0-
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(ii) shared power to vote or to direct the vote 9,358,200
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(iii) sole power to dispose or to direct the disposition
of -0-
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Note 2: The filing of this Schedule 13G and the statements therein
shall not be construed as an admission that Mr. Watsa, The
Sixty Two Investment Company Limited, 810679 Ontario Ltd.
or Fairfax Financial Holdings Limited are for the purposes
of Sections 13(d) or 13(g) of the Securities Exchange Act
of 1934 the beneficial owners of the Issuer's Common Shares
or have any pecuniary interest therein.
5
(iv) shared power to dispose or to direct the disposition
of 9,358,200
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ITEM 5
Ownership of Five Percent or Less of a Class.
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If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following [ ].
ITEM 6
Ownership of More than Five Percent on Behalf of Another Person.
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Not applicable.
ITEM 7
Identification and Classification of Subsidiary Which Acquired the Security
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Being Reported on By the Parent Holding Company.
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Mr. Watsa, directly, and indirectly through The Sixty Two Investment
Company Limited and 810679 Ontario Ltd., owns the controlling equity voting
interest of Fairfax Financial Holdings Limited ("Fairfax"). Fairfax is filing
this Schedule 13G on behalf of seven of Fairfax's subsidiary corporations, (1)
Lombard General Insurance Company of Canada (formerly The Continental Insurance
Company of Canada Inc.) ("Lombard") which owns 2,202,300 Common Shares of the
Issuer, (2) Ranger Insurance Company ("Ranger") which owns 591,100 Common Shares
of the Issuer, (3) Odyssey Reinsurance Corporation (formerly Skandia America
Reinsurance Corporation) ("Odyssey") which owns 1,738,500 Common Shares of the
Issuer, (4) North River Insurance Company ("North River") which owns 2,000,000
Common Shares of the Issuer, (5) Odyssey America Reinsurance Corporation
(formerly TIG Re Insurance Company ("Odyssey America") which owns 2,000,000
Common Shares of the Issuer, (6) TIG Insurance Co. ("TIG CO.") which owns
391,700 Common Shares, (7) Hamblin Watsa Investment Counsel Ltd., a Canadian
investment adviser ("Hamblin") and (8) Fairfax Financial Holdings Pooled Pension
Plan ("Pension Plan") which owns 434,600 Common Shares. Hamblin, through its
investment advisory agreements with Lombard, Ranger, Odyssey, North River,
Odyssey America, TIG CO. and the Pension Plan, shares the power to vote, and the
power to dispose of 9,358,200 Common Shares of the Issuer. Exhibit A attached
hereto states the identity and Item 3 classification of Lombard, Ranger,
Odyssey, North River, Odyssey America, TIG CO., Hamblin and the Pension Plan.
ITEM 8
Identification and Classification of Members of the Group.
Not applicable.
ITEM 9
6
Notice of Dissolution of Group.
------------------------------
Not applicable.
ITEM 10
Certification.
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By signing below I certify that, to the best and my knowledge and
belief, the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purposes or effect.
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: January 31, 2002
--
/s/ V. Prem Watsa
-----------------------------------
Signature
/s/ V. Prem Watsa
-----------------------------------
Name
THE SIXTY TWO INVESTMENT COMPANY
LIMITED
By: /s/ V. Prem Watsa
--------------------------------
Signature
V. Prem Watsa, President
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Name / Title
810679 ONTARIO LTD.
By: /s/ V. Prem Watsa
-------------------------------
Signature
7
V. Prem Watsa, President
---------------------------------
Name / Title
FAIRFAX FINANCIAL HOLDINGS LIMITED
By: /s/ Bradley P. Martin
-----------------------------------
Signature
Bradley P. Martin, Vice President
-----------------------------------
Name / Title
HAMBLIN WATSA INVESTMENT COUNSEL LTD.
By: /s/ A.F. Hamblin
-----------------------------------
Signature
A.F. Hamblin, President
-----------------------------------
Name / Title
8
EXHIBIT A
TO SCHEDULE 13G FILED BY
FAIRFAX FINANCIAL HOLDINGS LIMITED AND OTHERS
RELEVANT SUBSIDIARY ITEM 3 CLASSIFICATION
Lombard General Insurance
Company of Canada (c) Insurance Company
Ranger Insurance Company (c) Insurance Company
Odyssey Reinsurance
Corporation (c) Insurance Company
North River Insurance Company (c) Insurance Company
Odyssey America Reinsurance
Corporation (c) Insurance Company
Hamblin Watsa Investment
Counsel Ltd. (e) Investment Advisor
TIG Insurance Co. (c) Insurance Company
Fairfax Financial Holdings
Pooled Pension Plan (f) Employee Benefit Plan
9