| THE SECURITIES ACT | ) |
Order No. 5325 |
) |
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| Sections 148 and 19(5) | ) |
March 20, 2007 |
PROMITTERE S & P 500 LIMITED,
PROMITTERE RETIREMENT TRUST, and ROBERT JAMES THIESSEN
WHEREAS:
(A) By Order No. 5303 dated February 15, 2007, The Manitoba Securities Commission (“Commission”) made certain orders pursuant to section 148 of The Securities Act (“Act”) that provided for a cease trade in the securities of PROMITTERE S & P 500 LIMITED (“PS&P”) and of PROMITTERE RETIREMENT TRUST (“PRT”), with an exception as to redemptions, and furthermore pursuant to subsection 19(5) of the Act ordered a denial of exemptions against Robert James Thiessen (“THIESSEN”), said orders to expire on March 19, 2007 unless extended by further order of the Commission;
(B) On March 19, 2007, a panel of the Commission heard a motion by staff for interim orders of cease trade to be issued against PS&P and PRT and for an interim order denying exemptions to THIESSEN;
(C) Upon hearing evidence and the submissions of the respondents through counsel and the submissions of counsel for staff of the Commission, the Commission is of the opinion that it is in the public interest to make this order.
IT IS ORDERED:
1. THAT, pursuant to section 148 of the Act, Order No. 5303 dated February 15, 2007 shall be extended such that commencing March 19, 2007 all trading in the securities of PS&P shall cease, with the exception of any redemptions which may be made upon the request of any Manitoba investors now existing.
2. THAT, pursuant to section 148 of the Act, Order No. 5303 dated February 15, 2007 shall be extended such that commencing March 19, 2007 all trading in the securities of PRT shall cease, with the exception of any redemptions which may be made upon the request of any Manitoba investors now existing.
3. THAT, pursuant to subsection 19(5) of the Act, Order No. 5303 dated February 15, 2007 shall be extended such that commencing March 19, 2007:
(a) subsection 19(1) of the Act does not, with respect to such of the trades referred to in that subsection, apply to THIESSEN; and
(b) subsection 19(2) of the Act does not, with respect to such of the securities referred to in that subsection, apply to THIESSEN.
4. THAT the orders provided for in paragraphs 1, 2, and 3 shall continue until such time as a decision has been rendered by a panel of the Commission on the motion heard in this matter on March 19, 2007.
BY ORDER OF THE COMMISSION
Director - Legal