Listing Additional Shares: NYSE Companies
For an NYSE company to issue additional shares, it must seek NYSE Euronext authorization and file a Supplemental Listing Application (“SLAP”). A memo from the company, signed by an authorized company official providing the Exchange with relevant information relating to the transaction(s), will satisfy the Exchange's application requirements. The memo should be addressed to the Exchange and should include the following information:
1. Company name, 2. First six digits of the company's cusip number, 3. Company's current NYSE ticker symbol, 4. Description of each transaction, 5. Number of shares and name of security to be issued or reserved for each transaction, 6. Number of shares outstanding prior to this application (reflect treasury shares as a separate number, if any), 7. Reference to documents filed or to be filed in support of the application (see 703.00), 8. Reference to any other relevant public filing (i.e. Company Proxy, Prospectus, etc.). In review of the transaction(s), the Exchange may require additional information prior to authorization. The application and sufficient supporting documentation should be provided to the Exchange at least two weeks in advance of the required authorization date, and 9. Indicate whether shareholder approval is required with respect to the issuance pursuant to Sections 303A.08 or 312.03 and, if required, the date such shareholder approval was obtained. SUPPLEMENTAL APPLICATION - GENERIC SAMPLE
For questions regarding the listing of additional shares on the NYSE, please call 212-656-2701.
Listing Additional Shares: NYSE MKT Companies
For a NYSE MKT company to issue additional shares, companies must seek NYSE Euronext authorization and file an Application for Listing of Additional Shares ("LAS").
There are four basic steps in the additional listing process:
Some transactions require the company to file an additional or substitution listing application, including:
The Aggregation Test
To meet stockholder approval requirements (for example, Section 712 and 713 of the NYSE MKT Company Guide), NYSE MKT staff may aggregate two or more transactions when they constitute one larger transaction. Each aggregation scenario will undergo an individual "facts and circumstances" analysis, during which the following factors are considered:
For questions regarding the listing of additional shares on the NYSE MKT, please contact Ed Newhart at 212-656-5756.