IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c. S.5, AS AMENDED (the “Act”)
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IN THE MATTER OF
CERTAIN DIRECTORS, OFFICERS AND INSIDERS OF
ROYAL GROUP TECHNOLOGIES LIMITED
(BEING THE PERSONS LISTED
IN SCHEDULE “A” HERETO)
(Paragraph 127(1)2 and 2.1)
WHEREAS on April 3 rd, 2006, each of the persons and companies listed in Schedule “A” (individually, a “Respondent” and collectively, the “Respondents”) was notified that the Director made an order (the “Temporary Order”) that day under paragraph 2 of subsection 127(1) and subsection 127(5) of the Act that the Respondents cease trading in any securities of Royal Group Technologies Limited (“Royal Group”) for a period of 15 days from the date of Temporary Order;
AND WHEREAS the Respondents were notified that a hearing would be held to determine if it would be in the public interest to make an order under paragraph 2 and paragraph 2.1 of subsection 127(1) of the Act that the Respondents cease trading in and acquisitions of any securities of Royal Group permanently or for such period as is specified in the order;
AND WHEREAS the hearing was held on the 18 th day of April, 2006;
AND UPON hearing the following evidence:
1. Royal Group Technologies Limited (“Royal Group”) is incorporated under the Canada Business Corporations Act and is a reporting issuer in the Province of Ontario.
2. Each of the persons listed in Schedule “A” (individually, a “Respondent” and collectively, the “Respondents”) is, or was, at some time since the end of the period covered by the last financial statements filed by Royal Group, namely September 30, 2005, a director, officer or insider of Royal Group and during that time had, or may have had, in the ordinary course access to or received material information with respect to Royal Group that has not been generally disclosed.3. On March 14, 2006, Royal Group issued and subsequently filed on SEDAR a press release disclosing that it will delay the release of its audited 2005 financial results, the filing of its 2005 Annual Report to Shareholders, the filing of its Annual Information Form and the filing of its 2005 Form 40F (collectively, the “2005 Disclosure Documents”).
4. As of the date of this order, Royal Group has not filed the 2005 Disclosure Documents.
AND WHEREAS the Commission is of the opinion that it is in the public interest to make this order;
IT IS ORDERED under paragraph 2 and paragraph 2.1 of subsection 127(1) of the Act that all trading in and acquisitions of securities of Royal Group, whether direct or indirect, by any of the Respondents cease until two business days following the receipt by the Commission of all filings Royal Group is required to make pursuant to Ontario securities laws.
DATED at Toronto , this 18 th day of April, 2006.
Ontario Securities Commission
“Paul M. Moore, Q.C.”
Blanford, Lawrence J.
Cryer, Thomas W.
Lamoureux, Robert E.
Lawn, James G.
Sardo, V. James
Sheffield, William H.