GREY:LGLTF - Post by User
Comment by
cocacola11on Jun 04, 2015 6:46pm
172 Views
Post# 23798749
RE:Is there a policy
RE:Is there a policyYes. Trading will be halted after two months in default. They are half way there. Presumably they are at risk of other enforcement action at the discretion of the OSC if need be.
--
"If a company does not file its financial statements within two months of the Notice of Default the company will generally be subject to an issuer CTO without further notice. An issuer CTO may also be issued if the Notice of Default is materially deficient or if the company fails to file its Default Status Reports on time. Even if a company that has not filed its financial statements on time has not requested a management CTO, we may issue a management CTO rather than an issuer CTO if we believe that is appropriate. In that case we will name in the CTO the individuals we believe may have access to material undisclosed information
Enforcement
Meeting its continuous disclosure reporting obligations is a fundamental responsibility of every public company. While we will consider a company’s request that a management CTO be granted we may pursue enforcement action against the company or its management if the circumstances warrant it."
https://www.osc.gov.on.ca/documents/en/Securities-Category5/csa_20020329_57-301_mgmt-statements.pdf
Read more at https://www.stockhouse.com/companies/bullboard/v.loy/loyalist-group-limited#sbLCV6hQyhssr2lS.99