ASC cease trades Canadian Oil Sands’ 2015 shareholder rights plan
CALGARY – Following a hearing last week, an Alberta Securities Commission (ASC) panel has ruled on Suncor Energy Inc.’s application to cease-trade a shareholder rights plan implemented by the board of directors of Canadian Oil Sands Limited in October 2015.
Considering it to be in the public interest, the ASC panel issued an order cease-trading the 2015 shareholder rights plan, effective at 6 p.m. MST on Monday, January 4, 2016.
The ASC panel will issue its decision, with reasons, in writing at a later date.
The ASC is the regulatory agency responsible for administering the province’s securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada’s capital markets.