The following is a letter that we sent to the CEO of the TSX
I believe this is a very bad thing that you are doing. The TSX has been decimated by foreign takeovers of companies listed on the TSX and the loss of Canada’s manufacturing sector to foreign interests.
It is only recently that because of the boom in commodities that the TSX has gained traction. We all know that the LSE has little in the way of a retail investor base for commodities, which makes the TSX very attractive to them.
I urge you to consider the benefits to Canada of having companies from around the globe come to Canada to list. The benefits are enormous, and by selling out to foreigners, you are hurting a country that you should love.
Please reconsider. Patriotism and love of country, the country that allowed you to make your fortune, should convince you to stop this merger, which in reality is a takeover as foreign interests will have the majority control of the enterprise.
The end result will be a determined effort to migrate companies from the TSX to the LSE, leaving Canada without a marketplace, and without all of the benefits to Canada of having all of these worldwide companies choosing Canada as the place to list their securities.
PLEASE RECONSIDER
By Larry Cyna
Mr. Cyna is an accomplished investor in the Canadian public markets for over 20 years, and has managed significant portfolios. He is a financing specialist for private and public companies, and has expertise in real estate and debt obligations. He has assisted private companies accessing the public markets, has been a founding director of public companies and continues as a strategic consultant to selected clientele.
He is and has been a director, a senior officer and on the Advisory Board of a number of TSX and TSXV public companies in the mining, resource, technology and telecommunications sectors, and the Founding Director of two CPC’s with qualifying transactions in mining and minerals. He was an honorary director of the Rotman School of Management MBA IMC program, has completed the Canadian Securities Institute Canadian Securities Course & Institute Conduct and Practices Handbook Course, was a former Manager under contract to an Investment Manager at BMO Nesbitt Burns, a roster mediator under the Ontario Mandatory Mediation Program, Toronto, a member of the Institute of Corporate Directors of Ontario, a member of the Upper Canada Dispute Resolution Group, and the Ontario Bar Association, Alternate Dispute Resolution section.
He obtained his designation as a Chartered Accountant in Ontario in 1971 and was the recipient of the Founder’s Prize for academic achievement together with a cash reward. He became a CPA in the State of Illinois, USA in 1999 under IQEX with a grade of 92%. He is a Member of the Institute of Chartered Accountants of Ontario and the Canadian Institute of Chartered Accountants.
He holds certificates in Advanced ADR & in Civil Justice in Ontario, Faculty of Law, University of Windsor, certificate in Dispute Resolution from the Ontario Institute of Chartered Accountants. Previous accomplishments are Manager of Cymor Risk Consultants LP specializing in Risk Management Assessment; CEO of Cyna & Associates specializing in mediation and ADR; Founder & Senior Partner of Cyna & Co, Chartered Accountants, a fully licensed and accredited public accountancy firm with international affiliations; and was a partner in a large public accountancy firm.
Mr. Cyna is well known in the Canadian Investing community. He is invited to, and attends presentations given by public companies usually 3 or 4 times each week. These presentations are intended by the various hosting companies to present their inside story to sophisticated parties and Investment Managers for the purpose of attracting funding, or of making parties more interested in acquiring shares of those companies. Being a part of this keeps Mr. Cyna deeply involved in the current market and leads to numerous investment opportunities.
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