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Article: TSX Issuers Should Seek Shareholder Approval at their Next AGM to Amend Security Based Compensation Plans.(Toronto Stock Exchange)(annual general meeting)
- Article from:
- Mondaq Business Briefing
- Article date:
- July 6, 2006
CopyrightCOPYRIGHT 2006 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Effective June 30, 2007 the Toronto Stock Exchange (TSX) will no longer permit issuers with security based compensation arrangements that have amendment procedures that fail to meet TSX standards to make even minor "housekeeping" amendments to their plans without securityholder approval. Issuers should review their security based compensation plans to ensure that their amendment procedures meet TSX standards and, if they do not, shareholder approval of changes to such amendment procedures should be obtained. Effective January 1, 2005 the TSX introduced several changes to the TSX Company Manual (the Manual), including changes relating to security based compensation ...