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ARTICLE · 10 MAY 2016

TSX Seeks Public Comment On Proposed Amendments To DRIP Rules

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On April 28, 2016 the Toronto Stock Exchange published a set of proposed amendments to the TSX Company Manual, which are available for public comment until May 28, 2016.

CanadaCorporate/Commercial Law
McMillan LLP
McMillan LLP
Jason Haley
Jason Haley
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On April 28, 2016 the Toronto Stock Exchange (the "TSX") published a set of proposed amendments to the TSX Company Manual (the "Manual"), which are available for public comment until May 28, 2016.

The proposed amendments deal specifically with TSX requirements regarding Dividend/Distribution Reinvestment Plans ("DRIPs"). Currently the Manual does not provide for any specific requirements related to DRIPs. Historically, where a DRIP provides for the issuance of additional securities from the treasury, the TSX treated the DRIP under the general provisions for additional listings of securities under the Manual. However, these provisions are not specifically tailored to DRIPs, which has caused some confusion among issuers regarding how to implement or amend a DRIP.

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