Stingray Group (RAY.TO) received an exemption to treat its subordinate voting shares and variable subordinate voting shares as a single class for certain purposes, including for applicable take-over bid and early warning reporting requirements under Canadian securities laws, it said overnight Tuesday.
The company applied for the exemption, which is effective immediately, to facilitate investment in its variable subordinate voting shares by non-Canadians.
Shares of the company closed down 0.3% to $14.55 on Tuesday on the Toronto Stock Exchange.