Entire Section

  • Open Market in Successor Company’s Securities

    • 18B.64

      The restrictions on marketing to and trading by the public set out in rule 18B.03 will not apply to a Successor Company.

    • 18B.65

      The minimum number of 300 shareholders of rule 8.08(2) is modified to 100 Professional Investors at the time of listing of a Successor Company.

      Note:    A Successor Company must meet all other open market requirements applicable to a new listing, including the requirements of rule 8.08(1) that at least 25% of its total number of issued shares are at all times held by the public (subject to the Exchange’s discretion to accept a lower percentage as provided for by rule 8.08(1)(d)) and rule 8.08(3) that not more than 50% of the securities in public hands at the time of listing can be beneficially owned by the three largest public shareholders.