TSX notice on NCIB rules
Following the recent announcement by the U.S. SEC that issuers listed on a U.S. exchange would be temporarily exempt from certain share repurchase rules, the TSX has announced that it is taking similar action for interlisted issuers. Until (and including) October 2, 2008, for issuers that are listed on the TSX and also listed on a U.S. exchange, the time of purchase condition in s. 629(l)8 of the TSX Company Manual with respect to NCIB purchases at the opening and closing of a trading session is suspended and the volume of purchases condition in s. 628(a)(ix)(a) of the Manual is modified so that the amount of NCIB purchases must not exceed 100% of the ADTV for the security. Participating organizations acting on behalf of interlisted issuers will receive similar benefit. The SEC Order expires at the same time.
