Decisions and Freeze and cease trade orders

Montréal - On November 26, 2014, the Bureau de décision et de révision (Bureau) rendered a decision prohibiting Laurent Beaudoin1 from acting as a director or officer of a reporting issuer for five years, the maximum period under the Securities Act. The decision also prevents him from benefiting from registration and prospectus exemptions pursuant to the Securities Act or the regulations thereunder for five years.

The Bureau's decision reflects the conclusions sought by the Autorité des marchés financiers (the "AMF"), to which Laurent Beaudoin had agreed in a submission to the Bureau by the parties during the joint representations. The AMF's request was based in particular on penal convictions against Laurent Beaudoin in June 2013 and November 2013 for offences under the Securities Act.

The Autorité des marchés financiers (the "AMF") is the regulatory and oversight body for Québec's financial sector.

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1 The respondent should not be confused with Laurent Beaudoin, Chairman of the Board of Directors of Bombardier Inc.