Location: TSX Company Manual > Part IV Maintaining a Listing — General Requirements > B. Timely Disclosure > Material Information > Developments to be Disclosed > Sec. 410.

Sec. 409. Sec. 411.

Sec. 410.

Other actual or proposed developments that are likely to give rise to material information and thus to require prompt disclosure include, but are not limited to, those listed below. Of course, any development must be material according to the definition of material information before disclosure is required.

Many developments must be disclosed at the proposal stage, or before an event actually occurs, if the proposal gives rise to material information at that stage. Announcements of an intention to proceed with a transaction or activity should be made when a decision has been made to proceed with it by the board of directors of the company, or by senior management with the expectation of concurrence from the board of directors. Subsequently, updates should be announced at least every 30 days, unless the original announcement indicates that an update will be disclosed on another indicated date. In addition, prompt disclosure is required of any material change to the proposed transaction, or to the previously disclosed information.

Examples of developments likely to require prompt disclosure as referred to above include the following:

(a) Changes in share ownership that may affect control of the company.
(b) Changes in corporate structure, such as reorganizations, amalgamations, etc.
(c) Take-over bids or issuer bids.
(d) Major corporate acquisitions or dispositions.
(e) Changes in capital structure.
(f) Borrowing of a significant amount of funds.
(g) Public or private sale of additional securities.
(h) Development of new products and developments affecting the company's resources, technology, products or market.
(i) Significant discoveries by resource companies.
(j) Entering into or loss of significant contracts.
(k) Firm evidence of significant increases or decreases in near-term earnings prospects.
(l) Changes in capital investment plans or corporate objectives.
(m) Significant changes in management.
(n) Significant litigation.
(o) Major labour disputes or disputes with major contractors or suppliers.
(p) Events of default under financing or other agreements.
(q) Any other developments relating to the business and affairs of the company that would reasonably be expected to significantly affect the market price or value of any of the company's securities or that would reasonably be expected to have a significant influence on a reasonable investor's investment decisions.

Sec. 409. Sec. 411.

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