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New Securities Rule Requires Disclosure of Voting Results

June-7-2004

Area Corporate and Commercial, Corporate Finance and Securities

Summary


In our Corporate Securities Update of January 13, 2004, we introduced National Instrument 51-102 - Continuous Disclosure Obligations which provides a nationally harmonized set of continuous disclosure requirements for reporting issuers (other than investment funds).

With the implementation of the Rule, the Canadian Securities Administrators intend that investors be provided with higher quality information on a more timely basis.  To achieve this objective, the Rule imposes a number of filing requirements that reporting issuers previously did not have.  Among those is a requirement to file a report disclosing the results of matters voted on at shareholder meetings.

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