TSX Company Manual:

TSX Company Manual
Part I Introduction
Part II Why List on the Toronto Stock Exchange?
Part III Original Listing Requirements
Part IV Maintaining a Listing — General Requirements
Part V Special Requirements for Non-Exempt Issuers
Part VI Changes in Capital Structure of Listed Issuers
Part VII Halting of Trading, Suspension and Delisting of Securities
Part VIII Fees Payable by Listed Companies
Part IX Dealing with the News Media
Part X Special Purpose Acquisition Corporations (SPACs)
Part XI Requirements Applicable to Non-Corporate Issuers
Provisions Respecting Conflict of Interest and Competitors of TMX Group Limited
Notices of Approval
Requests for Comments
Staff Notices to Applicants, Listed Issuers, Securities Lawyers and Participating Organizations
Location: TSX Company Manual > Notices of Approval > Notice of Housekeeping Rule Amendments Housekeeping Amendments to the Toronto Stock Exchange ("TSX") Company Manual (February 11, 2016) > Reasons for the Amendments

Introduction Summary of the Amendments

Reasons for the Amendments

(1 version)
Feb 11 2016 onwards

TSX requirements regarding security certificates can be found in Appendix D. Appendix D contains two sets of customized security certificate requirements that apply to TSX issuers listed under the following categories: (i) Exempt Industrial Companies ("Exempt Certificate Requirements") and (ii) Mining, Oil & Gas and Non-Exempt Companies ("Non-Exempt Certificate Requirements"). The Amendments remove the Exempt Certificate Requirements from Appendix D.

Exempt Certificate Requirements have additional security features compared with Non-Exempt Certificate Requirements. Most notably, Exempt Industrial Companies are required to have customized security certificates with the following security features, in addition to the Non-Exempt Certificate Requirements:

•   a vignette, which shall: i) be at least 3.1 square inches (20 square centimeters) in area, and shall display a wide range of tonal quality from very light to very heavy lines, with ample content of middle tones and graduating shades; ii) consist of lines of differing vertical dimensions, some of which shall measure 25 microns perpendicular to the normal plane of paper; and iii) not consist of a monogram, trade mark or other company symbol only, but shall include some plainly discernible features of at least a part of the human form;
•   a printed underlay in colour other than black in the area of the general or promissory text;
•   an intaglio printing in black made of the vignette, the general or promissory text and the corporate name;
•   an intaglio printing made of wording or an abridgement of words in micro lettering of a size below normal readable limits, and in repetition; and
•   the general or promissory text produced from line engravings in "script" style lettering.

TSX notes that generic certificates are supported by the Securities Transfer Association of Canada and are accepted by TSX. Generic certificates are not required to have the security features specific to the Exempt Certificate Requirements, including intaglio printing, outlined above. Additionally, CDS has committed to eliminating physical security certificates for both existing issues with CDS's vaults and the issuance of new securities to improve the efficiency and cost effectiveness of the Canadian capital markets.

Introduction Summary of the Amendments

© TSX Inc. All rights reserved. Do not copy, distribute, sell or modify this document without TSX Inc.'s prior written consent. TSX materials, including manuals, trading rules, policies and forms, are reproduced by Complinet with the permission of TSX Inc. and TSX Venture Exchange Inc. under a non-exclusive license. Neither TSX Inc. nor any of its affiliated companies guarantees the accuracy, adequacy, completeness or availability of any information and nor shall they be responsible for any errors or omissions or otherwise.