The Securities Commission has granted Maxar Technologies Inc. (the Filer) an order to cease being a reporting issuer in all Canadian jurisdictions where it held this status. The decision was based on the Filer meeting specific criteria outlined in the securities legislation, particularly under the Securities Act, R.S.O. 1990, c. S.5, as amended, section 1(10)(a)(ii).
The key points leading to this decision include:
1. The Filer is not an OTC reporting issuer, meaning it is not subject to reporting obligations due to being quoted in U.S. over-the-counter markets as per Multilateral Instrument 51-105.
2. The Filer’s securities are held by fewer than 15 security holders in each Canadian jurisdiction and less than 51 holders globally.
3. The Filer’s securities are not traded on any public marketplace or facility in Canada or elsewhere that reports trading data.
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 in any jurisdiction.
The Ontario Securities Commission, acting as the principal regulator, has reviewed the application and determined that it satisfies the legislative requirements for ceasing to be a reporting issuer. Consequently, the order was granted, relieving the Filer of the reporting obligations in Canada. This decision was facilitated by the National Policy 11-206 Process for Cease to be a Reporting Issuer Applications and the Multilateral Instrument 11-102 Passport System, which allows for a streamlined process across multiple jurisdictions.