Table of Contents
TSX Company Manual
Part I Introduction
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TSX Company Manual >
Part VI Changes in Capital Structure of Listed Issuers >
F. Substitutional Listings >
Sec. 621. Stock Consolidation
 Sec. 620. Stock Split |
Sec. 622. Security Reclassification (with no stock split) |
Sec. 621. Stock Consolidation
(a) A stock consolidation by a listed issuer requires the prior consent of TSX.
(b) A listed issuer undergoing a stock consolidation must meet, post-consolidation, the continued listing requirements contained in Part VII of this Manual (see Section 712).
(c) A stock consolidation must be accompanied by a concurrent change in the colour of the security certificates, or if a generic security certificate is used, a copy of such generic certificate, and a new CUSIP number.
(d) The following documents must be filed with TSX on or prior to the day on which the Letters of Transmittal are sent to the security holders:
i) one copy of the Letters of Transmittal:
ii) a notarial or certified copy of the Certificate of Amendment, or equivalent document;
iii) opinion of counsel that all the necessary steps have been taken to validly effect the consolidation in accordance with applicable law;
iv) a definitive specimen of the new security certificates:
v) a copy of the written notice from The Canadian Depository for Securities Limited disclosing the new CUSIP number assigned to the securities (see Section 350);
vi) a written statement as to the intended mailing date of the Letters of Transmittal; and
vii) the substitutional listing fee (see Part VIII).
In addition, the listed issuer may be required to file with TSX a completed form (Appendix D) showing the distribution of the securities on a post-consolidation basis.
(e) The securities will normally commence trading on TSX on a consolidated basis at the opening of business two or three trading days after the later of the date upon which all required documents are received by TSX and the date the Letters of Transmittal are mailed to the security holders.
| Sec. 620. Stock Split |
Sec. 622. Security Reclassification (with no stock split) |
