Psion Teklogix International Inc. - MRRS Decision

MRRS Decision

Headnote

Mutual Reliance Review System for Exemptive Relief Applications - Issuer deemed to have ceased to be a reportingissuer.

Applicable Ontario Statutory Provisions

Securities Act, R.S.O. 1990, c.S.5, as am. s. 83.

IN THE MATTER OF THE SECURITIES LEGISLATION OF

BRITISH COLUMBIA, ALBERTA, SASKATCHEWAN, ONTARIO, QUEBEC,

NOVA SCOTIA AND NEWFOUNDLAND


AND

IN THE MATTER OF THE

ONTARIO BUSINESS CORPORATIONS ACT (ONTARIO)

AND

IN THE MATTER OF

THE MUTUAL RELIANCE REVIEW SYSTEM FOR EXEMPTIVE RELIEF

APPLICATIONS

AND

IN THE MATTER OF PSION TEKLOGIX INTERNATIONAL INC.

(FORMERLY TEKLOGIX INTERNATIONAL INC.)

MRRS DECISION DOCUMENT

WHEREAS the local securities regulatory authority or regulator (collectively, the "Decision Makers") in eachof the provinces of British Columbia, Alberta, Saskatchewan, Ontario, Quebec, Nova Scotia and Newfoundland (the"Jurisdictions") has received an application from Psion PLC, Psion Canada Inc., Psion Canada Holdings Inc. and PsionTeklogix International Inc. (formerly Teklogix International Inc.) (collectively, the "Applicants") for a decision pursuantto the securities legislation of each of the Jurisdictions (the "Legislation") that Psion Teklogix International Inc. ("PsionTeklogix") be deemed to cease to be a reporting issuer or its equivalent under the Legislation;

AND WHEREAS the Decision Maker in Ontario has received an application from the Applicants for a decisionthat Psion Teklogix be deemed to have ceased to be offering its securities to the public pursuant to the BusinessCorporations Act (Ontario) (the "OBCA");

AND WHEREAS pursuant to the Mutual Reliance Review System for Exemptive Relief Applications (the"System"), Ontario is the principal regulator for this application;

AND WHEREAS the Applicants have represented to the Decision Makers that:

1. Psion Teklogix was incorporated under the OBCA on March 21, 1983 as Teklogix International Limited.Pursuant to a certificate of amalgamation dated April 30, 1990, Teklogix International Limited amalgamatedwith TXA Limited and TLX Holdings Limited to form Teklogix International Limited. The company changed itsname to Teklogix International Inc. on August 4, 1995 and issued restated articles of incorporation on April 15,1996. On September 20, 2000, the company changed its name to Psion Teklogix International Inc.

2. Psion Teklogix is a reporting issuer or its equivalent under the Legislation. The head office of Psion Teklogixis in the City of Mississauga, Province of Ontario.

3. As a result of a plan of arrangement under the OBCA effected on September 20, 2000, Psion Teklogix has onlyone security holder, Psion Canada Inc.

4. Psion Teklogix is in default of the requirement under the Legislation to file interim financial statements for theperiod ended September 30, 2000.

5. The common shares of Psion Teklogix were delisted from The Toronto Stock Exchange on September 22,2000. None of the securities of Psion Teklogix are listed or posted for trading on any other exchange or market.

6. Psion Teklogix does not intend to seek public financing by way of an offer of securities.

AND WHEREAS pursuant to the System this MRRS Decision Document evidences the decision of eachDecision Maker (collectively, the "Decision");

AND WHEREAS each of the Decision Makers is satisfied that the test contained in the Legislation, and in thecase of the Decision Maker of Ontario, section 1(6) of the OBCA, that provide the Decision Maker with the jurisdictionto make the Decision has been met;

THE DECISION of the Decision Makers pursuant to the Legislation is that Psion Teklogix is deemed to haveceased to be a reporting issuer, or its equivalent, under the Legislation.

THE FURTHER DECISION of the Decision Maker of Ontario, pursuant to section 1(6) of the OBCA, is thatPsion Teklogix is deemed to have ceased to be offering its securities to the public.

January 10, 2001.

"J.A. Geller"       "R. Stephen Paddon"