Settlements
Phoenix Global Capital Inc., et al. [Agreed Stmt]
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BCSECCOM #:
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Document Type:
Agreed Stmt
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Published Date:
1989-09-01
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Effective Date:
1989-08-29
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Details:
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IN THE MATTER OF the Securities Act, S.B.C. 1985, c. 83,
as am.
AND IN THE MATTER OF Phoenix Global Capital Inc., Jeffrey
Shear, Stephen Lui and Allan Meiteen
Agreed Statement of Facts and Undertaking by Stephen Lui
N. de Gelder
August 29, 1989
The following agreement has been reached between Stephen Lui ("Lui") and the Superintendent of Brokers ("Superintendent"):
1. |  | LUI HEREBY CONSENTS to an order of .the Superintendent pursuant to Section 145.1 of the Securities Act, S.B.C. 1985, c. 83, as amended (the "Act") in the form annexed hereto. | |
2. | | As the basis for an order made pursuant to Section 145.1 of the Act prohibiting Lui from becoming or acting as a director or officer of any reporting issuer, Lui acknowledges the following facts as correct: | |
(a) | | Lui has been a Director of Phoenix Global Capital Inc. (the "Company") since January 31, 1989; | |
(b) | | The Company was an exchange issuer as defined in the Act from 1988 through May 26, 1989 and since May 29, 1989 to the date hereof, the Company has been quoted on the Canadian Over-the-Counter Automated Trading System; | |
(c) | | During the period from April 28, 1989 to June 14, 1989 (the "material period"), the Company made certain distributions in its securities contrary to the provisions of the Act, as follows: | |
i) | | During the material period, the Company made distributions of its securities contrary to the Act, in that it did not file a prospectus qualifying the sale of the securities and there were no exemptions from the prospectus requirement available under the Act; | |
ii) | | During the material period, the Company made distributions without filing a Form 20 in accordance with the requirements of Section 132 (1) of the Regulations to the Act; and | |
iii) | | During the material period, the Company made distributions while it was a delinquent file respecting quarterly financial information; | |
3. | | Lui hereby waives his right to a hearing and review by the British Columbia Securities Commission pursuant to Section 149 of the Act with respect to the Order. | |
4. | | Lui hereby agrees to pay to the order of Her Majesty the Queen in right of the Province of British Columbia represented by the Minister of Finance the sum of $500.00 for costs of this investigation. | |
N. DE GELDER
Superintendent of Brokers