Paladin Energy Ltd. applied to the Ontario Securities Commission for a partial revocation of a failure-to-file cease trade order (FFCTO) issued in October 2017.
The issuer, currently under administration in Australia, sought the partial revocation to permit trades of common shares and secured notes to Ontario creditors as part of a deed of company arrangement (DOCA) to restructure its debt.
The Principal Regulator granted the partial revocation order solely to permit these proposed trades, subject to conditions including providing the Ontario creditors with copies of the FFCTO and the order, and obtaining written acknowledgements that the securities remain subject to the FFCTO.