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STAFF REPORT TO:Committee of the WholeMEETING DATE: June 20, 2023FROM:Planner lIFILE NO: 3220GibsonsWay565SUBJECT:Zoning Amendment (Bylaw 106570) for two duplexes at 565 Gibsons WayRECOMMENDATIONS
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Gibson's considers forgoing public to maintain greater control over the company, protect its proprietary information, and avoid the costs and regulatory requirements associated with being a public entity.
Companies that are evaluating the option of going public but decide to forgo it must file any necessary disclosures, typically management and board members, depending on the jurisdiction.
To fill out the necessary documentation for considering forgoing public, companies should provide a comprehensive analysis of their business circumstances, reasons for forgoing the public offering, and any relevant financial data.
The purpose of considering forgoing public is to decide whether remaining private would be more beneficial for the long-term strategy, financial stability, and operational flexibility of the company.
Information that must be reported includes financial statements, management discussions, risks involved in remaining private, and rationale for not pursuing public offering.
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