Cease-trade order revoked where the issuer hasremedied its default in respect of disclosure requirements underthe Act.
Securities Act, R.S.O. 1990, c. S.5, as am.,ss. 127(1)2, 127(5), 127(8), 144.
IN THE MATTER OF
THE SECURITIES ACT,
R.S.O. 1990, CHAPTER S.5,AS AMENDED (the "Act")
IN THE MATTER OF
TAGALDER (2000) INC.
WHEREAS the securities of Tagalder(2000) Inc. (the "Company") currently are subjectto a Temporary Order made by a Director on behalf of the OntarioSecurities Commission (the "Commission"), under paragraph2 of subsection 127(1) and subsection 127(5) of the Act, onMay 22, 2002 as extended by a further order of a Director, madeon June 3, 2002 (collectively referred to as the "CeaseTrade Order") on behalf of the Commission pursuant to subsection127(8) of the Act, that trading in securities of the Companycease until the Cease Trade Order, is revoked by a further Orderof Revocation;
AND WHEREAS the Company has applied tothe Commission for revocation of the Cease Trade Order pursuantto section 144 of the Act;
AND UPON the Company having representedto the Commission that:
1. The Company is a corporation incorporatedunder the laws of Ontario by Articles of Amalgamation datedJuly 11, 1996 and is a reporting issuer under the Act.
2. The authorized capital of the Company consistsof an unlimited number of common shares of which 37,869,018are issued and outstanding as at the date hereof;
3. The Cease Trade Order was issued as a resultof the Company's failure to comply with the financial disclosurerequirements of the Act;
4. Audited financial statements for the yearended December 31, 2001 (the "Financial Statements")and interim financial statements for the three month periodended March 31, 2002 and the six month period ended June 30,2002 (the "Interim Statements") were not filed ina timely manner or sent to the shareholders of the Companybecause of delays encountered in procuring information fromholdings in Hong Kong, required to be contained within thestatements, in a timely manner.
5. The Financial Statements were filed withthe Commission on August 23, 2002 and the Interim Statementswere filed with the Commission on August 28, 2002.
6. The Financial Statements were mailed tothe shareholders of the Company on October 2, 2002 and theInterim Financial Statements were mailed to the shareholdersof the Company on September 18, 2002. The Company has nowbrought its Continuous Disclosure filings up to date.
7. Except for the Cease Trade Order, the Companyis not otherwise in default of any of the requirements ofthe Act or the Regulation;
AND UPON considering the applicationand the recommendation of the Staff of the Commission;
AND UPON the Commission being satisfiedthat to do so would not be prejudicial to the public interest;
IT IS ORDERED under section 144 of theAct, that the Cease Trade Order be hereby revoked.
October 23, 2002.