TMX Group exchanges Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV) today announced temporary blanket relief measures for TSX and TSXV listed issuers during the Coronavirus (COVID-19) pandemic. Effective immediately, these measures are designed to lessen the administrative burden on public companies during the current crisis and provide greater flexibility in dealing with market volatility.
"The profound impacts of the COVID-19 crisis are being felt across all industries and companies, including emerging and established listed companies in Canada and around the world," said Loui Anastasopoulos, President, Capital Formation, TMX Group. "Public companies play a vital role in the success and long-term viability of Canada's economy and constitute a crucial segment of TMX's client base. Following close consultation with our stakeholders, we have implemented measures that we feel will benefit many of our more than 3,200 listed issuers, and allow them increased flexibility as they work to manage their businesses through this rapidly evolving crisis."
TSX and TSXV are not requiring issuers to apply to the Exchanges to take advantage of this relief, but instead all measures will automatically apply today. TSX and TSXV issuer relief measures include timeframe extensions for holding annual shareholder meetings, and approvals of stock option plans. TSX has also made allowances for filing of financial statements and adjustments to share buybacks and delisting criteria.
For more details, please see the Staff Notices online: TSX and TSXV.
