NoticeMar 26, 2013
Notice 2013-001 - CNSX Markets 2013 Listing Fee Schedule
March 26, 2013
Effective April 1, 2013, CNSX Markets (“CNSX”, “Exchange” or “Canadian National Stock Exchange”) will introduce new fees for supplemental listings and submission of Personal Information Forms (PIFs), and a fee for late filing of CNSX Forms. There is also an increase to the Initial Listing Fee. The schedule replaces the fee schedule published in February 2012.
Implementation
The Initial Listing Fee and Supplemental Listing fee apply to applications received April 1, 2013 or later. The fee for submitting PIFs will apply to PIFs submitted April 1, 2013 for those PIFs that are not submitted in connection with a listing application.
The Late Filing Fee will be applied starting with the CNSX Form 7 Monthly Progress Report for April, which must be posted by the market open on May 7, five business days after the end of the month. Late fees will be collected with the maintenance fee for the following month.
A. Equity Securities - Fees for Listing Applicants and Listed Companies
Initial Listing fee - $12,500
A non-refundable deposit of $2,500 must accompany the Listing Application, and the balance of $10,000 is payable prior to the Listing Date.
Supplemental Listing fee - $1,000
A listed company must pay a flat fee to list an additional class of securities, payable prior to the Listing Date for the securities.
Monthly Fee - $500
The monthly maintenance fee is due on the first business day of each month the Company is listed. The first monthly fee will include the fee for the portion of the month in which the Company was listed. In the event of suspension or delisting, no portion of the fee will be refunded.
Application following a Fundamental Change - $10,000
The Issuer resulting from a fundamental change of a Listed Company must make a complete application to qualify for listing.
Requalification Fee - $1,000
A Listed Company which has had its securities suspended from trading will be required to pay a requalification fee in addition to curing the default or breach that gave rise to the suspension.
Late Filing Fee - $25 per day per CNSX Form
A Listed Company which has not posted a CNSX form in accordance with Exchange Policy will be required to pay $25 for each full business day the form remains outstanding subject to a maximum of $500. NOTE: This fee will only apply to the CNSX Form 7 Monthly Progress Report until further notice.
Form 3 Personal Information Forms - $200 per individual form
Any CNSX Form 3 - Personal Information Form (PIF) submitted by a Listed Company is subject to a fee of $200 payable at the time of submission. A PIF submitted by a listing applicant in connection with the application is not subject to this fee.
B. Fees for Listing Structured Products
Initial Listing fee - $10,000
A non-refundable deposit of $2,000 must accompany the Listing Application, and the balance of $8,000 is payable prior to the Listing Date. The Initial Fee includes the first security of the issuer to be listed on the Exchange.
Subsequent Issues - $2,000
This fee is payable upon listing, for each additional security listed on the Exchange following the initial listing. For new securities posted on an if as and when issued basis, the fee is payable on the date of issue.
Monthly Fee - variable
The fee is based on the total value of the security. For securities with a fixed term, the fee will be determined at the time of issuance and remain fixed for the full term.
For each security: an annual rate of 6 basis points (“bps”) on the value less than or equal to $10,000,000 ($600 per $1,000,000 per annum) plus 3 bps for the value exceeding $10,000,000, divided by 12, subject to a minimum monthly fee of $100.
Note: GST or HST will be applied to all fees, as applicable.
Questions about this notice may be directed to:
Mark Faulkner, Vice President, Listings & Regulation
416.572.2000 x2305 or [email protected]
Effective April 1, 2013, CNSX Markets (“CNSX”, “Exchange” or “Canadian National Stock Exchange”) will introduce new fees for supplemental listings and submission of Personal Information Forms (PIFs), and a fee for late filing of CNSX Forms. There is also an increase to the Initial Listing Fee. The schedule replaces the fee schedule published in February 2012.
Implementation
The Initial Listing Fee and Supplemental Listing fee apply to applications received April 1, 2013 or later. The fee for submitting PIFs will apply to PIFs submitted April 1, 2013 for those PIFs that are not submitted in connection with a listing application.
The Late Filing Fee will be applied starting with the CNSX Form 7 Monthly Progress Report for April, which must be posted by the market open on May 7, five business days after the end of the month. Late fees will be collected with the maintenance fee for the following month.
A. Equity Securities - Fees for Listing Applicants and Listed Companies
Initial Listing fee - $12,500
A non-refundable deposit of $2,500 must accompany the Listing Application, and the balance of $10,000 is payable prior to the Listing Date.
Supplemental Listing fee - $1,000
A listed company must pay a flat fee to list an additional class of securities, payable prior to the Listing Date for the securities.
Monthly Fee - $500
The monthly maintenance fee is due on the first business day of each month the Company is listed. The first monthly fee will include the fee for the portion of the month in which the Company was listed. In the event of suspension or delisting, no portion of the fee will be refunded.
Application following a Fundamental Change - $10,000
The Issuer resulting from a fundamental change of a Listed Company must make a complete application to qualify for listing.
Requalification Fee - $1,000
A Listed Company which has had its securities suspended from trading will be required to pay a requalification fee in addition to curing the default or breach that gave rise to the suspension.
Late Filing Fee - $25 per day per CNSX Form
A Listed Company which has not posted a CNSX form in accordance with Exchange Policy will be required to pay $25 for each full business day the form remains outstanding subject to a maximum of $500. NOTE: This fee will only apply to the CNSX Form 7 Monthly Progress Report until further notice.
Form 3 Personal Information Forms - $200 per individual form
Any CNSX Form 3 - Personal Information Form (PIF) submitted by a Listed Company is subject to a fee of $200 payable at the time of submission. A PIF submitted by a listing applicant in connection with the application is not subject to this fee.
B. Fees for Listing Structured Products
Initial Listing fee - $10,000
A non-refundable deposit of $2,000 must accompany the Listing Application, and the balance of $8,000 is payable prior to the Listing Date. The Initial Fee includes the first security of the issuer to be listed on the Exchange.
Subsequent Issues - $2,000
This fee is payable upon listing, for each additional security listed on the Exchange following the initial listing. For new securities posted on an if as and when issued basis, the fee is payable on the date of issue.
Monthly Fee - variable
The fee is based on the total value of the security. For securities with a fixed term, the fee will be determined at the time of issuance and remain fixed for the full term.
For each security: an annual rate of 6 basis points (“bps”) on the value less than or equal to $10,000,000 ($600 per $1,000,000 per annum) plus 3 bps for the value exceeding $10,000,000, divided by 12, subject to a minimum monthly fee of $100.
Note: GST or HST will be applied to all fees, as applicable.
Questions about this notice may be directed to:
Mark Faulkner, Vice President, Listings & Regulation
416.572.2000 x2305 or [email protected]
