Robert Fabes, Senior Vice President, Toronto Stock Exchange, said these changes will help investors understand what they own. “When purchasing a new Air Canada share, an investor clearly knows they own a restricted voting share.” He added, “We believe the benefits to investors will come from the greater transparency to the market resulting from having clear and consistently applied stock symbol formats reflecting the voting attributes of the securities while eliminating the inconsistencies between the labelling of share classes.”
Moving ahead, investors in Toronto Stock Exchange and TSX Venture Exchange issues will see specific suffixes for ‘Multiple Voting Shares-MV’, ‘Subordinate Voting Shares-SV’, ‘Restricted Voting Shares-RV’, ‘Limited Voting Shares-LV’ or ‘Non-Voting Shares-NV’. New suffixes for non-convertible notes-NT issues were launched this summer. According to Mr. Fabes, “with a renewed focus on investments and the governance of our listed issuers, this is an idea whose time has come.”
Work on this project began earlier this year after discussions between TSX and the Canadian Coalition for Good Governance. The Coalition recommended TSX look at changes it could make to clarify the nature of shares that shareholders owned. In the coming week, the following issues will have new codes assigned.
Stock |
Symbol |
Renaming
Date |
New
symbol |
|
|
|
|
ACE
Aviation Holdings - new
listing |
|
04-Oct |
ACE.RV |
Quebecor
World Inc. SV |
IQW |
04-Oct |
IQW.SV |
ADF
Group Inc. SV |
DRX |
12-Oct |
DRX.SV |
Agricore
United LV |
AU |
12-Oct |
AU.LV |
Canada
Southern Petroleum Ltd. LV |
CSW |
12-Oct |
CSW.LV |
Cogeco
Cable Inc. SV |
CCA |
12-Oct |
CCA.SV |
Cogeco
Inc. SV |
CGO |
12-Oct |
CGO.SV |
Power
Corporation of Canada SV |
POW |
12-Oct |
POW.SV |