AEQUITAS NEO EXCHANGE INC.
AMENDMENTS TO LISTING MANUAL
NOTICE OF APPROVAL
In accordance with the Process for the Review and Approval of Rules and the Information Contained in Form 21-101F1 and the Exhibits Thereto, Aequitas NEO Exchange Inc. (“NEO Exchange”) has adopted and the Ontario Securities Commission has approved amendments to NEO Exchange’s Listing Manual (the “Amendments”). The Amendments comprise the following changes relating to emerging markets issuers:
- Definitions added under section 1.01
- “Emerging Market”,
- “Emerging Market Issuer”,
- “OSC Staff Notice 51-720”
- “Other Listed EMI” and
- “Senior Management”;
- Section 2.10 has been deleted and replaced with new initial listing requirements for EMIs;
- Section 4.09 has been added to set out ongoing requirements for EMIs;
- New subsection 10.03(2) has been inserted to set out audit committee requirements for EMIs; and
- New subsections 10.16 (2), (3) and (4) have been inserted to set out additional related party transaction requirements for EMIs.
A notice of the Amendments and a request for comments was published on November 2, 2017. One comment was received. As a result of the comments, one non-material change was made to section 2.10(11), as follows:
(11) Corporate and Capital Structure
Where an EMI intends to employ a non-traditional corporate or share capital structure, including a variable interest entity or a special-purpose entity, the EMI’s public disclosure should describe the proposed non-traditional corporate or share capital structure and provide an explanation as to why the structure is necessary in the given circumstances, and the risks associated with the structure.
A summary of the comments received and NEO Exchange’s response, as well as a copy of the approved Amendments, can be found at www.osc.gov.on.ca.
The Amendments are effective as of the date hereof.