Kirkland Alert Kirkland & Ellis LLP

NYSE Announces Effective Date for Proposal to Eliminate Broker Discretionary Voting, Suspends $1 Price Requirement and Extends Lowering of Market Cap Requirement.

On February 26, 2009, the NYSE revised its proposal to amend Rule 452 to provide that the election of directors is not a routine matter for which NYSE member firm brokers would be permitted to cast votes for uninstructed shares.