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Toronto Stock Exchange Issues Guidance on Securityholder Right Plans by Torys LLP
Toronto Office
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January 14, 2009
Previously published by Torys LLP
The TSX expects most securityholder rights plans to have a triggering threshold of 20%, consistent with takeover bid requirements under Canadian securities legislation. The stock exchange requirements for securityholder rights plans generally are set forth in
- Sections 634 to 637 of the TSX Company Manual, and
- Staff Notice 2006-0002 (regarding the public announcement of a plan).
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The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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