VANCOUVER, March 7, 2013 /CNW/ - A British Columbia Securities
Commission panel has released the reasons for its decision on February
28, 2013 not to hear an application by Huntingdon Capital Corp. related
to its offer for KEYreit.
On February 18, 2013, Huntingdon applied for an order cease trading a
shareholder rights plan the KEYreit board of directors implemented in
response to Huntingdon's offer. In its reasons for denying the
application, the panel noted that KEYreit's principal jurisdiction for
securities regulation is Ontario, and referred to the "sensible and
appropriate" practice of Canadian securities regulators to hear
shareholder rights plan hearings in the principal jurisdiction of the
target company. The panel said the practice should be followed in the
absence of good reasons, and that it found no good reason not to follow
the practice in this case.
The B.C. Securities Commission is the independent provincial government
agency responsible for regulating trading in securities within the
province. You may view the decision on our website, www.bcsc.bc.ca, by typing Huntingdon Capital Corp, KEYreit or 2013 BCSECCOM 64 in the
search box. Information regarding disciplinary proceedings can be
found in the Enforcement section of the BCSC website.
Learn how to protect yourself and become a more informed investor at www.investright.org
SOURCE: British Columbia Securities Commission
For further information:
If you have questions, contact Richard Gilhooley, media relations, 604-899-6713. For public inquiries, call 604 899 6854 or 1 800 373 6393 (toll free).