In accordance with Section 35 and Section 40 of the Securities Act Ch 83:02, the Trinidad and Tobago Stock Exchange Limited (TTSE) hereby proposes a further amendment to Special Market Listing Requirement Rule 400(2) in respect of the Small and Medium Enterprise Market for approval by the Trinidad and Tobago Securities and Exchange Commission (TTSEC).
By Order of August 29 2022, the Commission approved an amendment to TTSE Rule Book in respect of the SME Market Listing Rule which included a sub-rule that whereby the company, trust, entity or body corporate is required under Rule 400(2)(c) not be associated or affiliated with any company listed with the Exchange or with any other securities exchange.
The TTSE has received feedback from SMEs that this section is a barrier to entry. Given the limited participation in the SME market and the need to develop the capital markets of Trinidad and Tobago, the TTSE is now requesting that this particular Rule 400(2)(i)(c) be amended.
After consideration, the TTSE has now deemed it imperative for the reasons set out in this Statement of Substance and Purpose that the TTSE Rule 400(2)(i)(c), Special Market Listing Requirements in respect of Small and Medium Enterprise Market be amended.