National Assembly of Québec - Return to homepage

National Assembly of Québec - Return to homepage

L'utilisation du calendrier requiert que Javascript soit activé dans votre navigateur.
Pour plus de renseignements

Home > Voice Your Opinion > Starting, Signing or Viewing a Petition > Petition: Review of the Raymor privatization and protection of small sharehoders

Petition:
Review of the Raymor privatization and protection of small sharehoders

Petition text

WHEREAS the disputed privatization of Raymor in February 2010 stripped $30 million from 8 000 small shareholders of this company in nanotechnology and advanced materials;

WHEREAS l’Autorité des marchés financiers (AMF) documents show that 21 maneuvers undisclosed to shareholders were made in 2009 enabling the privatization in 2010 and that these maneuvers did not respect the rules of securities regulation, or Raymor’s disclosure policy established by the TSX in 2006;

WHEREAS AMF has disclosed the dubious maneuvers that were used only on February 12, 2010 to shareholders, too late for shareholders to file complete legal action, that could have been effective and timely to oppose and block the privatization;

WHEREAS, despite numerous requests for investigation by the shareholders of Raymor in 2009, the AMF allowed the privatization of Raymor on February 4, 2010;

We, the undersigned, demand that the National Assembly shall convene the AMF to the Commission of Public Administration to:

  • Examine the circumstances and facts surrounding the disputed privatization of Raymor;
  • To propose tightening the regulations to the Bankruptcy and Insolvency Act to better protect the assets of small shareholders;
  • To establish a better control of securities and corporate regulation in order to place the protection of small shareholders as a central objective of the law;
  • To establish an independent public investigation concerning the disputed privatization of Raymor

The signing period for this petition is over.


Signing deadline : November 29, 2012

Number of signatures : 288