SDX ENERGY INC SDRYF

Rules for Voluntary delisting

[Money_514]

Voluntary
4.2 An Issuer may at any time request that the Exchange delist all or any class of its Listed Shares from trading on the Exchange. The Issuer must submit to the Exchange: (a) a written request for delisting, specifying the Listed Shares to be delisted and the reason(s) for the request; (b) a copy of the directors’ resolution authorizing the delisting; and (c) confirmation that all Exchange invoices have been paid.
4.3 Unless the Exchange is satisfied that a satisfactory alternative market exists for the Listed Shares, the Exchange will require majority of the minority shareholder approval for the delisting application.
4.4 Typically a class of Listed Shares will be delisted at the request of the Issuer when the Issuer has redeemed its shares or a successful take-over bid for the shares has been completed. In most instances the Listed Shares of the Issuer requesting a delisting are listed on another recognized stock exchange or stock market, or no longer held by a sufficient number of Public Shareholders. In these circumstances, and where the request is made for valid reasons, the Exchange will not object to the delisting so long as the above submission is delivered to the Exchange.
4.5 Delisting requests are occasionally made by interlisted companies in order to proceed with a transaction which the Exchange has not accepted for filing or which the Exchange finds objectionable. In these circumstances, in addition to filing a copy of the directors’ resolution, the Issuer must issue a news release detailing the reasons for the delisting.
4.6 If the Listed Shares of the Issuer are not interlisted on another recognized stock exchange or stock market, the Exchange will consider the merits of each individual delisting application. The Exchange will need confirmation that the Issuer’s Public Shareholders and the investing public generally, will not be prejudiced by the delisting. The Exchange can require that the Issuer issue a news release disclosing its plans and can delay the delisting to facilitate settlement of trades and allow shareholders to sell to willing purchasers.
4.7 In most cases, the Exchange will issue an Exchange Bulletin 10 days before a voluntary delisting occurs.