Hi Steve
IW on TSE is finally moving, but past the listing date.
What are your thoughts regarding this release. The Shareholders meeting in Dec seems to be important.
freeedgar.com
BCE Inc. ("BCE") hereby amends and supplements its Report on Schedule 13D,
originally filed on June 16, 1998 (the "Schedule 13D"), with respect to the
purchase by Nortel Networks Corporation ("Nortel") of common shares without par
value (the "Common Shares") of Plaintree Systems Inc.
Unless otherwise indicated, each capitalized term used but not defined
herein shall have the meaning assigned to such term in the Schedule 13D.
Item 1. Security and Company.
The response set forth in Item 1 of the Schedule 13D is hereby amended and
supplemented by the following information:
On November 3, 1999, Plaintree and Nortel entered into a memorandum of
agreement (the "Agreement") pursuant to which Nortel committed to convert its
Series II Shares into 9,000,000 Common Shares in connection with the acquisition
by Targa Group Inc. ("Targa") of 49% of the Common Shares. The conversion is
subject to, among other things, the approval of the shareholders of Plaintree of
the acquisition by Targa of 49% of the Common Shares at a special meeting of
shareholders to be held in December 1999. If the conversion occurs, Nortel will
beneficially own approximately 14% of the outstanding Common Shares. Since BCE
presently beneficially owns approximately 39.6% of the outstanding shares of
Nortel common stock, BCE may be deemed to beneficially own the Common Shares
beneficially owned by Nortel. For more information on the Agreement and the
relationship between BCE and Nortel, see Amendment No. 1 to the Schedule 13D
filed by Nortel on November 12, 1999 with respect to the transactions
contemplated by the Agreement.
Page 3 of 4
SIGNATURE
After reasonable inquiry and to the best knowledge and belief of the
undersigned, the undersigned certifies that the information set forth in this
statement is true, complete and correct. |
