Order: In the Matter of Anwar Heidary and James Sylvester
R.S.O. 1990, c. S.5, AS AMENDED
AND
IN THE MATTER OF
ANWAR HEIDARY AND JAMES SYLVESTER
ORDER
(Section 127(1))
WHEREAS on September 7, 1999, the Ontario Securities Commission (the"Commission") issued a notice of hearing pursuant to section 127(1) of the SecuritiesAct (the "Act") in respect of James Sylvester ("Sylvester");
AND WHEREAS Sylvester entered into a settlement agreement dated January21, 2000 (the "Settlement Agreement") in which he agreed to a proposed settlement ofthe proceeding, subject to the approval of the Commission;
AND UPON reviewing the Settlement Agreement and the statement of allegations of Staff of the Commission, and upon hearing submissions from counsel forSylvester and from Staff of the Commission;
AND WHEREAS the Commission is of the opinion that it is in the public interestto make this Order;
IT IS ORDERED THAT:
(1) the Settlement Agreement dated January 21, 2000, attached to this Order, ishereby approved; and
(2) pursuant to clause 2 of subsection 127(1) of the Act, Sylvester is prohibited fromtrading in securities for a period of five years from the date of this Order with thefollowing exceptions:
i. After a period of one year from the date of this Order, Sylvester ispermitted to trade in securities for his personal account provided thatthose securities trade on a recognized stock exchange, the transactionsare not pre-arranged and Sylvester has no knowledge of the counter partyto the transaction;
ii. Sylvester is permitted to sell securities of Club Link Corporation, of whichhe is the beneficial owner, provided that those securities trade on arecognized stock exchange, the transactions are not pre-arranged andSylvester has no knowledge of the counter party to the transaction;
iii. Sylvester is permitted to trade in securities on behalf of Export InvestorsGroup Ltd. for the purposes of completing a contemplated transactioninvolving the sale of the assets and/or shares of Sussex Group Ltd.and/or Sussex Admiral (Bahamas) Ltd. to a Canadian public company(the "public company") in exchange for securities in the public company;and
iv. If the contemplated transaction outlined in subparagraph iii is completed,Sylvester is permitted to sell for his own account securities of the publiccompany provided that those securities trade on a recognized stockexchange, the transactions are not pre-arranged and Sylvester has noknowledge of the counter party to the transaction.
January 26th, 2000.
"J. A. Geller""Morley P. Carscallen"
"R. Stephen Paddon"