Mutual Reliance Review System for Exemptive Relief Applications - issuer with onesecurity holder deemed to have ceased to be a reporting issuer.
Applicable Ontario Statutes
Securities Act, R.S.O. 1990, c.S.5, as am., s. 83.
IN THE MATTER OF
THE MUTUAL RELIANCE REVIEW SYSTEM FOR EXEMPTIVE RELIEF APPLICATIONS
IN THE MATTER OF
PLD TELEKOM INC.
MRRS DECISION DOCUMENT
WHEREAS the securities regulatory authority or regulator (the "Decision Maker")in each of British Columbia, Alberta, Saskatchewan, Ontario, Quebec, Nova Scotia andNewfoundland (the "Jurisdictions") have received an application from PLD Telekom Inc.("PLD") for a decision pursuant to the securities legislation of the Jurisdictions (the"Legislation") deeming PLD to have ceased be a reporting issuer, or the equivalentthereof, under the Legislation.
AND WHEREAS pursuant to the Mutual Reliance Review System for ExemptiveRelief Applications (the "System"), the Ontario Securities Commission is the principalregulator for this application;
AND WHEREAS PLD has represented to the Decision Makers that:
1. PLD is a company organized under the laws of the State of Delaware in the UnitedStates of America. PLD's head office is located at 505 Park Avenue, 21st Floor,New York, New York, 10022.
2. On September 30, 1999, pursuant to an Agreement and Plan of Merger dated asof May 18, 1999 (the "Merger Agreement"), among other things, PLD merged witha wholly-owned subsidiary of Metromedia International Group, Inc. ("Metromedia")and Metromedia acquired the outstanding shares of PLD common stock inconsideration for shares of Metromedia common stock (the "Merger").
3. As a result of the Merger, PLD became a wholly-owned subsidiary of Metromediaand Metromedia is the owner of all the outstanding securities of PLD.
4. PLD is, and has been for a period of time in excess of twelve (12) months, areporting issuer or the equivalent thereof under the Legislation of the Jurisdictionswhere such concept exists.
5. PLD common stock was listed on the Toronto Stock Exchange (the "TSE"), tradingunder the symbol "PLD", but was delisted from the TSE as of the close of businesson October 5, 1999. None of the securities of PLD are listed or quoted on anysecurities market and PLD has no present intention of seeking financing througha public offering of its securities.
AND WHEREAS pursuant to the System, this MRRS Decision Document evidencesthe decision of each Decision Maker (collectively, the "Decision");
AND WHEREAS each of the Decision Makers is satisfied that the test contained inthe Legislation that provides the Decision Maker with the jurisdiction to make the decisionhas been met;
THE DECISION OF THE DECISION MAKERS pursuant to the Legislation is thatPLD is deemed to have ceased to be a reporting issuer, or the equivalent thereof, underthe Legislation.
March 29th, 2000.