Pursuant to the terms of the MCTO
, it is expected that the MCTO
will be lifted in two full business days.
is the region's largest provider of mass transportation service operating more than 100 express, local and contract routes.
Each of Hollinger and International is also subject to a MCTO
issued by the OSC on June 1, 2004 as varied on June 8, 2005.
The variance that Argus, together with its immediate subsidiaries, has requested be made to the Hollinger MCTO
is to permit the sale by it of up to 200,000 of the 21,596,387 Retractable Common Shares of Hollinger ("Shares") that it indirectly holds through its subsidiaries.
As a result, each of Hollinger and International are also subject to a MCTO
that was issued on June 1, 2004 as varied on March 8, 2005 for the failure by each to file their financial statements and related reports when required.
MCTR and MCTO
thresholds and objectives could be specified in the capability needs documentation, such as the Initial Capabilities Document, Capability Development Document, and Capability Production Document.
In addition, reductions in federal dollars and limited state funding have forced staff layoffs at MCTO
, along with service cuts and fare increases.
If the MCTO
is granted, the Company intends to satisfy the provisions of the Alternate Information Guidelines as set out in the National Policy 12-203 for as long as the Company remains in default, including the issuance of bi-weekly default status reports, each of which will be issued in the form of a press release.
Penn West is working diligently and devoting all necessary resources to file its second quarter financial statements and related disclosures and its restated historical financial statements and related disclosures as soon as practicable, and in any event anticipates filing them no later than the October 14, 2014 date contemplated by the Management Cease Trade Order (" MCTO
") described below.
It is anticipated that the new processing system from Breckenridge and Panini will save MCTO
thousands of dollars through reduction in maintenance costs and improved operational efficiencies.
As a precaution, the Company will be applying to the ASC pursuant to Part 4 of National Policy 12-203 (" NP 12-203") for a Management Cease Trade Order (" MCTO
") in connection with the possible late filing of the Q2 Filings.
prohibits present and certain past directors, officers and insiders of Fareport from trading in securities of Fareport.