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(Alliance News) - BT Group PLC announced on Monday that it has filed an application to cease to be a reporting issuer in Canada.
If the order is granted by the British Columbia Securities Commission, BT will cease to be a reporting issuer in Canada and, as a result, will no longer be required to file financial statements and other continuous disclosure documents.
The London-based telecommunications company is currently a reporting issuer in British Columbia, Quebec and Nova Scotia in Canada.
BT said it made this decision in order to reduce reporting costs and complexity. It added that it will continue to file all financial statements and other continuous disclosure materials required to be filed in accordance with laws and regulations of the UK.
Shares in BT were up 1.4% at 182.12 pence on Monday morning in London.
By Heather Rydings; heatherrydings@alliancenews.com
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