Toronto Stock Exchange relaxes rules in response to COVID-19 epidemic
Toronto Stock Exchange and TSXV Venture Exchange to Relax Rules to Help Listed Companies “Reduce (their) Administrative Burden” in this COVID-19 Pandemic .
The TMX Group explained that the changes would give companies more time to hold their annual shareholders’ meetings and obtain shareholder approval for their stock option plans.
In addition, issuing companies will not have to notify the Exchange if they need more time to file their financial statements.
The Toronto Stock Exchange and the TSXV Venture Exchange do not require companies to register to take advantage of the changes, which apply automatically from Monday.
Markets have indicated that they continue to expect issuers to comply with applicable laws regarding the date of their annual meeting in 2020.
The Toronto Stock Exchange has also made adjustments to share repurchases and criteria for delisting.