Re: Date Set for Motion in Cowpland Matter

Pour diffusion immédiate Before the Court OSC

Toronto - A judicial pre-trial conference was held today in the Ontario Court of Justice proceeding against Michael Cowpland and M.C.J.C. Holdings Inc. The defendants intend to bring a motion to seek to change the venue of the trial from Toronto to Ottawa. The motion has been scheduled to be heard on February 24, 2000 commencing at 9:00 a.m. in Courtroom 112 at Old City Hall, Toronto, Ontario.

Copies of the Appendix to the Information which sets out the charges against Mr. Cowpland and M.C.J.C. Holdings Inc. can be obtained from the Commission, 8th Floor, 20 Queen Street West, Toronto, Ontario and on the Commission's website at www.osc.gov.on.ca.

References:

Rowena McDougall
Corporate Communications Officer
Corporate Relations
(416) 593-8117

Michael Watson
Director
Enforcement Branch
(416) 593-8156
 


 

 

 

APPENDIX "A" TO THE INFORMATION OF RIMA PILIPAVICIUS

 

M.C.J.C. Holdings Inc.

1. On the 11th, 12th and 14th days of August, 1997, at the City of Toronto and elsewhere in the Province of Ontario, M.C.J.C. Holdings Inc. being a company in a special relationship with Corel Corporation ("Corel"), a reporting issuer in the Province of Ontario listed and posted for trading on the Toronto Stock Exchange, did sell securities of Corel, to wit: 2,431,200 shares for $20,400,000, more or less, with knowledge of a material fact with respect to Corel that had not been generally disclosed contrary to subsection 76(1) and paragraph 122(1)(c) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the "Act").

Michael Cowpland

2. On or about the 11th, 12th and 14th days of August 1997, at the City of Toronto and elsewhere in the Province of Ontario, Michael Cowpland, being a person in a special relationship with Corel, did inform, other than in the necessary course of business, M.C.J.C. Holdings Inc., of a material fact with respect to Corel before the material fact had been generally disclosed contrary to subsection 76(2) and paragraph 122(1)(c) of the Act.

3. On or about the 11th, 12th and 14th days of August 1997, at the City of Toronto and elsewhere in the Province of Ontario, Michael Cowpland, being a director of M.C.J.C. Holdings Inc., did authorize, permit and acquiesce in the commission of an offence by M.C.J.C. Holdings Inc. contrary to subsection 122(3) of the Act to wit: on the 11th, 12th and 14th days of August, 1997, M.C.J.C. Holdings Inc., being a company in a special relationship with Corel, a reporting issuer in the Province of Ontario did sell 2,431,200 shares of Corel for $20,400,000 more or less, with knowledge of a material fact with respect to Corel that had not been generally disclosed contrary to subsection 76(1) and paragraph 122(1)(c) of the Act.

4. On or about the 20th day of May, 1998, at the City of Toronto in the Province of Ontario, Michael Cowpland did make statements in information submitted to the Commission that, in material respects and at the time and in the light of the circumstances under which they were made, were misleading or untrue contrary to paragraph 122(1)(a) of the Act.