Why did Shire apply to cease to be a reporting issuer in Canada? What does it mean?

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anonymous

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Why did Shire do this in Canada?

Shire Applies to Cease to be a Reporting Issuer in Canada

Dublin, Ireland - 13 March 2018 - Shire plc (LSE: SHP, NASDAQ: SHPG) ("Shire" or the "Company") announces that it has applied to the Autorité des marchés financiers ("AMF"), as principal regulator, for an order (the "Requested Order") that the Company may cease to be a reporting issuer in Québec and British Columbia, the jurisdictions in Canada in which it is currently a reporting issuer.

If the Requested Order is made by the AMF, the Company will cease being a reporting issuer in any jurisdiction in Canada. As a result, the Company will no longer be required to file financial statements and other continuous disclosure documents in Canada pursuant to Canadian securities laws.

If the Requested Order is obtained, Shire will continue to file all financial statements and other continuous disclosure materials required to be filed by it in accordance with the applicable laws of the United States and the rules of the Securities Exchange Commission ("SEC").

Canadian resident security holders will continue to have access to all financial statements and other continuous disclosure documents required to be filed publicly by the Company on the SEC as required by the applicable laws of the Unites States. All such continuous disclosure documents of the Company are publicly available to all Company security holders on the Company's website at www.shire.com.

The Company's security holders resident in Canada will continue to receive copies of the continuous disclosure documents that are required to be delivered to security holders in the United States, in the same manner and at the same time as are required under the applicable securities laws of the United States and the rules of the SEC.
 






Less markets to report in, less financial filings to complete, and less smart MBA analysts looking too closely at what is going on in the company. Got to weather out this storm to make it through.

We are doing so poorly with the investment community right now, literally referred to as a "dreaded stock", that I'm sure it makes sense to limit the exposure.
 






Remember, April 1st is just a couple of weeks away. That's when our northern affiliate start their 3 plus 2 year immunology contract (Gammagard and Cuvitru) with locked-in pricing lower than ever given in the company's history. Canada being the 2nd or 3rd largest Ig users in the world, and uber cheap pricing, Flemm is probably recognizing what a shit-show this would be if investors ever found out that future (and significant) losses will be stemming from that country. He's just trying to hide those losses into the American books, and use cost-cutting measures to recoup some of it.

Rumor has it that Shire in both the UK and a couple of other European countries had to scale back their Ig use for the next 6-12 months, some will get none at all, so that we (U.S.) can ensure we have enough supply to hand over to the Canadians at next to no profit. Apparently if we try to pull ourselves out of this contract it would come with extremely costly penalties.

Follow the stock in the next 6 months. That should be the telling tale.
 






anonymous said:
Flemm is probably recognizing what a shit-show this would be if investors ever found out that future (and significant) losses will be stemming from that country. He's just trying to hide those losses into the American books, and use cost-cutting measures to recoup some of it..
Click to expand...
So you posted this early to let the investors know?
 






anonymous said:
Remember, April 1st is just a couple of weeks away. That's when our northern affiliate start their 3 plus 2 year immunology contract (Gammagard and Cuvitru) with locked-in pricing lower than ever given in the company's history. Canada being the 2nd or 3rd largest Ig users in the world, and uber cheap pricing, Flemm is probably recognizing what a shit-show this would be if investors ever found out that future (and significant) losses will be stemming from that country. He's just trying to hide those losses into the American books, and use cost-cutting measures to recoup some of it.

Rumor has it that Shire in both the UK and a couple of other European countries had to scale back their Ig use for the next 6-12 months, some will get none at all, so that we (U.S.) can ensure we have enough supply to hand over to the Canadians at next to no profit. Apparently if we try to pull ourselves out of this contract it would come with extremely costly penalties.

Follow the stock in the next 6 months. That should be the telling tale.
Click to expand...

This Canada deal is a mess. Whoever signed off on this needs to be fired. They are obviously in over their heads
 






The Canada deal just sounds like another bad decision by the leadership team. Shire was a good company and is suffering under the management of FO and PS. I hate that this forum airs our dirty laundry, but when is enough, enough. Canadian VP used to work with FO and PS with Bausch & Lomb. The history with these three runs deep and we are suffering for it. Our stock is a reflection of that.

Intervention is what we need to save this company. And if it's not the investors/shareholders, then who?

This company still has a chance, but not under this leadership.
 






Nothing is going to happen. What outlet do we have to show our discontent? The satisfaction surveys? Nothing will be done. Not to mention the fact so many people are pussies and won't fill it out honestly for fear of getting in trouble. This overall company is a mess. You just have to hope you work for a division that is cool.
 






I agree. Anonymous surveys that ask for gender, age range, division you work for pretty much gives you away. They want us to be kept quite while we watch the ship sink, however with no captain going down with it, just the passengers. #titanic #shire #ridiculous
 
























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