On June 2, 2011 at 11:59 pm EDT, the Canadian Union of Postal Workers (CUPW) initiated strike activity on a rotating basis. CUPW's National Executive Board has announced that it will evaluate the situation on a daily basis and determine strike strategy based on developments at the bargaining table.
At this time, CUPW has not commenced a total work stoppage. In light of this fact, companies and investment funds must continue to comply with their obligations under securities law to send proxy-related materials to registered shareholders, and to intermediaries for forwarding to beneficial owners. In addition, intermediaries must continue to comply with their obligations under securities law to forward any proxy-related materials they have received from companies or investment funds to beneficial owners.
However, given that the strike activity may have an impact on the timely receipt of proxy-related materials, we also encourage companies, investment funds and intermediaries to communicate with registered shareholders and beneficial owners about the potential impact the disruption of postal service could have on receipt of proxy-related materials, and provide information (e.g., through a news release) about alternate methods by which registered shareholders and beneficial owners can obtain information circulars and voting documents.
For those companies, investment funds or intermediaries, who wish to discuss obtaining exemptive relief in their particular circumstances, please contact:
Manager, Continuous Disclosure
514-395-0337, ext. 4401
Manager, Corporate Finance
514-395-0337, ext. 4411
Manager, Investment Funds
514-395-0337, ext. 4471