TORONTO STOCK EXCHANGE 18 TSX will also assess the suitability of officers, directors, promoters, major security holders, or any combination thereof, or any other person or entity deemed by the TSX to hold enough of the listed issuer’s securities to materially affect control. TSX Staff will use discretion to determine suitability by taking into account all relevant factors concerning such individuals, including their past conduct. Applicants must have at least two independent directors, a chief executive officer, a chief financial officer (who is not also the chief executive officer) and a corporate secretary. Special Purpose Acquisition Corporations Special Purpose Acquisition Corporations (“SPACs”) must apply pursuant to Part X of the Manual, specifically. SPACs should refer to the TSX Guide to Special Purpose Acquisition Corporations for more information.
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