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Email In order to provide temporary relief to listed companies that may have urgent liquidity needs as a result of the market disruption caused by COVID-19, the New York Stock Exchange has (i) partially waived its shareholder approval requirement for issuances of stock to a “related party” when the number of new shares to be issued is more than 1% of total share volume or voting power and (ii) expanded the existing exception to its shareholder approval requirement for transactions involving the issuance of 20% or more of the company’s outstanding common stock or 20% of the voting power outstanding before such issuance, other than a public offering for cash. The waivers are effective immediately and will remain in effect through June 30, 2020. https://www.cadwalader.com/resources/clients-friends-memos/covid-19-update-nyse-temporarily-waives-certain-shareholder-approval-requirements