Notice of Approval Amendments to Part IV of the TSX Company Manual

18 02 2014

The Toronto Stock Exchange (“TSX”) has adopted amendments to Part IV of the TSX manual which had been previously published for public comment on October 4, 2012.

The amendments require each director of a TSX listed issuer, other than a listed issuer that is majority controlled, to be elected by a majority of the votes cast with respect to his or her election other than at contested meetings. An issuer must adopt a majority voting policy if it does not otherwise satisfy the majority voting requirement in a manner acceptable to TSX, for example, by applicable statutes, articles, by-laws or other similar instruments.

The amendments will become effective for listed issuers on June 30, 2014 and issuers with fiscal years ending on or after June 30, 2014 must comply with the amendments at their first annual meeting following the effective date.

You can find the complete notice HERE.

 


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