The “special voting” stock symbol extension program introduced in 2004 to indicate unique voting structures will be discontinued by the Toronto Stock Exchange and TSX Venture Exchange in early 2006.
TSX Groups says these changes are the result of an extensive consultation process with market participants — many of whom had been lobbying TSX Group for changes to the 2004 symbol modifications.
Effective immediately, TSX and TSX Venture Exchange will no longer be applying the following symbol extensions to new listings.
- NV: non-voting
- SV: subordinate voting
- MV: multiple voting
- LV: limited voting
- RV: restricted voting
The implementation date for the changes to the symbol extensions will be announced in early 2006 and will be communicated to issuers so that they may prepare for the changes. The process is expected to take approximately three months to complete, beginning in May 2006.
Coincident with the completion of this process, TSX will be making available comprehensive details on subordinate and non-voting share structures.