The Securities Commission has granted an application by Absolute Software Corporation (the Filer) to cease being a reporting issuer in Canada. The decision was made under the authority of the Securities Act of British Columbia and Ontario, with the British Columbia Securities Commission acting as the principal regulator.
The key facts leading to this decision include:
1. The Filer is not an OTC reporting issuer.
2. The Filer’s securities are owned by fewer than 15 securityholders in each Canadian jurisdiction and less than 51 worldwide.
3. The Filer’s securities are not traded on any public marketplace in Canada or elsewhere.
4. The Filer has requested to cease being a reporting issuer in all Canadian jurisdictions where it currently has that status.
5. The Filer is not in default of any securities legislation.
The outcome is based on the test set out in the relevant legislation, which the Filer has met. Consequently, the Filer has been allowed to cease being a reporting issuer, as per the order of the Securities Commission. The decision is supported by the Multilateral Instrument 11-102 Passport System and National Policy 11-206 Process for Cease to be a Reporting Issuer Applications.