Skip to main content

CSA Provides Temporary Relief for Proxy Material Delivery Amid Postal Disruption

The Canadian Securities Administrators (CSA) have introduced temporary measures to address challenges caused by Canada’s postal service disruption. These measures allow reporting issuers to use alternative methods for delivering proxy-related materials for annual meetings, ensuring shareholders can continue to access key information and vote effectively.

Your can read CSA's announcement here.

Key points of the relief include:

· Scope: Applicable only for routine annual meeting matters (e.g., election of directors, appointment of auditors, and executive compensation).

· Exclusions: Special resolutions, contested matters, and shareholder proposals are not eligible.

· Disclosure Requirements: Proxy materials must be filed on SEDAR+ and posted on the issuer’s website. A news release must also provide clear instructions for accessing materials and voting.

These measures are in place to maintain corporate governance while accommodating current logistical constraints.