The Securities Commission has granted Atalaya Mining PLC’s application to cease being a reporting issuer in all Canadian jurisdictions where it held this status. The company, incorporated in Cyprus, is primarily listed on the AIM stock exchange in the UK and has minimal Canadian shareholdings, with only 5.9% held by a large Canadian securityholder and approximately 0.38% by other Canadian residents. Atalaya Mining has not sought public financing in Canada for the past year and has no intention of doing so or of having its securities traded on Canadian marketplaces.
The decision is based on the company’s compliance with UK reporting requirements, which are similar to Canadian requirements, and the fact that Canadian residents hold less than 2% of its securities worldwide. The large Canadian securityholder does not object to the cessation, and Atalaya Mining has committed to continue providing disclosure material to Canadian shareholders as required by UK securities law.
The order is supported by the Securities Act, R.S.O. 1990, c. S.5, as amended, specifically section 1(10)(a)(ii), and the application process outlined in National Policy 11-206. The company has fulfilled the conditions for ceasing to be a reporting issuer, including notifying Canadian securityholders and providing an undertaking to the Ontario Securities Commission.