Regulatory Alerts2004-03-01
Guidelines for Listing of Companies with Constrained Share Ownership provisions on the Trinidad and Tobago Stock Exchange
The Trinidad and Tobago Securities and Exchange Commission issued guidelines to permit the listing of companies with constrained share ownership provisions, overriding a previous refusal to amend listing requirements. These rules allow non-demutualized entities to limit single shareholder ownership to a maximum of 20% and demutualized entities to 5%, provided shareholders approve the constraints via special resolution. Listings are restricted to a maximum initial period of five years, with a possible two-year extension contingent on shareholder and Exchange approval, after which the constraints must be removed.
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