Requirement, subject to limits and exceptions, for shareholder approval of issues of securities.  |
|
|---|---|
| Rule: | IIA 6.25 |
| Date Requested: | Thursday, November 8, 2012 |
| Requested By: | LSG |
| Date Approved: | Tuesday, November 20, 2012 |
| Approved By: | Compliance Committee |
| Issuer: | LSG |
| Securities: | LSG |
| Waiver Requested: | The applicant requested relief such that a bonus issue of securities would be considered pro rata and thus not requiring shareholder approval pursuant to LR 6.25(2)(i) be granted. The applicant submitted that the number of securities involved was very small and that the applicant had alerted shareholders well in advance so that other arrangements could be made if necessary. The applicant submitted that to take the steps necessary for the offer to be made in all jurisdictions where its shares were held would be unduly burdensome and impractical. |
| Effect of Waiver: | Releif granted to the extent necessary to treat the offer as being pro rata. |