TSX Updates NCIB And Dividend/Distribution Declaration Forms

The Toronto Stock Exchange yesterday announced that it is adopting various housekeeping amendments to the TSX Company Manual in respect of Form 14A (monthly reporting for NCIBs for investment fund issuers), Form 14B (monthly reporting for NCIBs for non-investment fund issuers) and Form 5 (Dividend/Distribution Declaration).

According to the TSX, Forms 14A and 14B have not historically adequately addressed situations where listed issuers are interlisted on other markets, where purchases are made off exchange through private agreements and where purchases were made on the TSX under the block purchase exemption. As such, amendments to the forms will break out certain information into separate tables with the intention of enhancing the visibility of monthly trading activity and to ensure the required trading details are being reported. Amendments are also being implemented to make the forms more user friendly.