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Securities law

Alberta Securities Commission Grants Cease to be a Reporting Issuer Order to NOVA Gas Transmission Ltd.

Strategic Insights

— 1 min read

NOVA Gas Transmission Ltd. (the Filer) has been granted an order by the Alberta Securities Commission and the Decision Makers in the Jurisdictions, allowing the company to cease its status as a reporting issuer in all jurisdictions of Canada. This decision is based on the Filer's representations that it meets the criteria outlined in the securities legislation of the Jurisdictions, including owning outstanding securities beneficially by fewer than 15 securityholders in each jurisdiction and not being in default of securities legislation in any jurisdiction.

Key Takeaways:

  • The Alberta Securities Commission has issued a decision (2024 ABASC 89) granting NOVA Gas Transmission Ltd. an order to cease its status as a reporting issuer in all jurisdictions of Canada.
  • The decision is based on the Filer's representations that it meets the criteria outlined in the securities legislation of the Jurisdictions, including owning outstanding securities beneficially by fewer than 15 securityholders in each jurisdiction.
  • The Filer is not an OTC reporting issuer under Multilateral Instrument 51-105 Issuers Quoted in the U.S. Over-the-Counter Markets.
  • The outstanding securities of the Filer are beneficially owned by fewer than 15 securityholders in each of the jurisdictions of Canada and fewer than 51 securityholders in total worldwide.
  • The Filer is applying for an order that it has ceased to be a reporting issuer in all of the jurisdictions of Canada in which it is a reporting issuer.
  • Timothy Robson is the Decision Maker.

Statistics:

  • The Filer has outstanding securities beneficially owned by fewer than 15 securityholders in each of the jurisdictions of Canada.
  • The Filer has outstanding securities beneficially owned by fewer than 51 securityholders in total worldwide.
  • The Filer is applying for an order that it has ceased to be a reporting issuer in all of the jurisdictions of Canada in which it is a reporting issuer.

Sources:

  • Alberta Securities Commission. Citation: Re NOVA Gas Transmission Ltd., 2024 ABASC 89. Date: 20240509.

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