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THE

BEECHAMBER

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NEWS

A ‘VOTING RIGHT’ VS AN ‘EXERCISABLE VOTING RIGHT’



Schedule 1 defines a ‘Voting Right’ as a Voting Right attaching to an Equity Instrument owned by or held for a participant, measured using the Flow-through Principle or the Control Principle. An ‘Exercisable Voting Right’ is a Voting Right of a Participant that is not subject to any limit.


Therefore, an ‘Exercisable Voting Right’ is not a ‘Voting Right’. The difference between the definitions is that ‘Exercisable Voting Rights’ refer to ‘Voting Rights’ that are not subject to any limitations.


Technical Compliance Services are available to assist members with understanding these differences.




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