Sec Form 20-F - Registration Statement/annual Report/transition Report/shell Company Report Page 7

accordance with IFRS.

financial statements prepared in accordance with IFRS and shall be presented for the two most recent financial years. The

issuer shall present selected historical financial data in accordance with U.S. GAAP for the five most recent financial years,

except as the issuer is otherwise permitted to omit U.S. GAAP information for any of the earliest of the five years pursuant to

Item 3.A.1.

(d) Information on the Company. The reference in Item 4.B to the “ body of accounting principles used

in preparing the financial statements” means IFRS as issued by the IASB and not the basis of accounting that was

previously used (“Previous GAAP”) or accounting principles used only to prepare a U.S. GAAP reconciliation.

(e) Operating and Financial Review and Prospects. The issuer shall present the information required pursuant to Item

5. The discussion should focus on the financial statements for the two most recent financial years prepared in accordance with

IFRS as issued by the IASB. No part of the discussion should relate to financial statements prepared in accordance with

Previous GAAP.

(f) Financial Information.

(1) General. With respect to the financial information required by Item 8.A, all instructions contained in Item 8,

including the instruction requiring audits in accordance with U.S. generally accepted auditing standards, shall apply.

(2) Interim Period Financial Information in a Registration Statement or Prospectus. This instruction shall apply when

an issuer is changing the body of accounting principles used in preparing its financial statements presented pursuant to Item

8.A.2 to IFRS. This instruction shall be available during the financial year in which the issuer is changing its accounting

principles to IFRS and during the financial year thereafter until the date as of which the issuer is required to comply with Item

8.A.4.

(A) Instruction 3 of the Instructions to Item 8.A.5 shall not apply to published financial information that is prepared

with reference to IFRS. This General Instruction G(f)(2)(A) shall be available for any financial information for any interim or

annual financial period that the issuer publishes that is prepared with reference to IFRS.

(B) An issuer that is required to provide interim financial statements under the first sentence of Item 8.A.5 may satisfy

the requirements of that item by providing one of the following:

(i) Three financial years of audited financial statements and interim financial statements (which may be unaudited) for

the current and comparable prior year period, prepared in accordance with Previous GAAP and reconciled to U.S. GAAP as

required by Item 17(c) or 18, as applicable;

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