Home > United Nations Online Network in Public Administration and Finance (UNPAN)
1. Global
Global
2. Africa
Africa
3. Arab States
Arab States
4. Asia & Pacific
Asia & Pacific
5. Europe
Europe
6. Latin America & Caribbean
Latin America & Caribbean
7. North America
North America
UNPAN Asia & Pacific




Public Administration News  
Share
CBM Asia Development Corp. Provides Default Status Report
Source: finance.yahoo.com
Source Date: Thursday, May 29, 2014
Focus: Electronic and Mobile Government, ICT for MDGs, Knowledge Management in Government, Citizen Engagement, Institution and HR Management
Created: Jun 03, 2014

CBM Asia Development Corp. ("CBM Asia" or the "Company") (TSX VENTURE:TCF)(CBMDF)(IY2.F) announces that further to its news release dated April 16, 2014, the British Columbia Securities Commission, the Company's principal regulator, issued a Management Cease Trade Order ("MCTO") against the Company's Chief Executive Officer and Chief Financial Officer on May 1, 2014, as opposed to a general cease trade order against the Company. The MCTO prohibits trading in securities of the Company, either directly or indirectly, by these individuals.

 

As summarized in the Company's News Release dated April 16, 2014 (the "Default Notice") this action was expected due to the fact that the Corporation was unable to file its annual financial statements, Management's Discussion & Analysis and related Chief Executive Officer and Chief Financial Officer certificates for its fiscal year-ended December 31, 2013 (the "Required Filings") before the April 30, 2014 filing deadline (the "Filing Deadline").

 

Pursuant to the requirements of Section 4.4 of National Policy 12-203 - Alternative Information Guidelines the Company reports the following:

 

(i) There have been no material changes to the information contained in the Default Notice and the Company expects to file the Required Filings on or before June 30th 2014;

 

(ii) There have been no failures with respect to the Company fulfilling its stated intention of satisfying the requirements of filing the Required Filings.

 

(iii) There has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the Default Notice; and

 

(iv) There is no other material information about the affairs of the Company that has not otherwise been reported.

 

The Company confirms that it intends to satisfy the provisions of the alternative information guidelines so long as it remains in default of this filing requirement, being the provision of bi-weekly updates by way of news release.

News Home

 Tag This
 Tell A Friend
 Favorite
del.icio.us digg this Slashdot
Rate:
0 ratings
Views: 26

Comments: 0 Favorited: 0 Bookmarked: 0 Tagged: 0



0 Comments | Login to add comment

Site map | FAQs | Terms and Privacy | Contact Us
Copyright 2008-2010 by UNPAN - United Nations Public Administration Network