Mutual Reliance Review System for Exemptive Relief Applications -- application for an order that the issuer is not a reporting issuer.
Securities Act, R.S.O. 1990, c. S.5, as am., s. 1(10).
IN THE MATTER OF
THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED (the ACT)
IN THE MATTER OF
UPON the application of the Applicant to The Ontario Securities Commission (the Commission) for an order pursuant to clause 1(10)(b) of the Act that the Applicant is not a reporting issuer for the purposes of Ontario securities law (the Requested Relief);
AND UPON considering the Application and the recommendation of the staff of the Commission;
AND UPON the Applicant representing to the Commission that:
1. The Applicant was formed by Articles of Amalgamation dated August 29, 2000, which amalgamated Triple Crown Electronics Inc. and CableServ Electronics Limited, and is a reporting issuer in the Province of Ontario only.
2. The Applicant's head office address is located at 4560 Eastgate Parkway, Mississauga, Ontario L4W 3W6.
3. The Applicant currently has 8,421,052 common shares issued and outstanding, all of which are held by Costeff Network Solutions Inc.
4. The Applicant has no debt securities outstanding.
5. Prior to the amalgamation Triple Crown Electronics Inc.'s common shares were de-listed from the Toronto Stock Exchange and none of the Applicant's securities are traded on a marketplace in Canada as defined in National Instrument 21-101 Marketplace Operation.
6. Costeff Network Solutions Inc., the sole shareholder of the Applicant has agreed to the Applicant's request to not be a reporting issuer.
7. Except for the failure to file financial statements and the related management's discussion and analysis of financial condition and results of operations for the year ended December 31, 2006 and the interim periods ended March 31, 2007 and June 30, 2007 together with the required chief executive officer and chief financial officer certifications, the Applicant is not currently in default of any of its obligations as a reporting issuer under the Act.
8. The Applicant did not file the continuous disclosure documents referred to in paragraph 7 on the basis that the Applicant had a single security holder by the time such documents were required to be filed.
9. The Applicant will not be a reporting issuer or the equivalent in any jurisdiction in Canada immediately following the granting of the Requested Relief.
AND UPON the Commission being satisfied that granting this Order would not be prejudicial to the public interest.
IT IS HEREBY ORDERED pursuant to clause 1(10)(b) of the Act that, for the purposes of Ontario securities law, the Applicant is not a reporting issuer.
DATED at Toronto, Ontario on this 2nd day of November, 2007