UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2)
Mitel Networks Corporation
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(Name of Issuer)
Common Shares, No Par Value
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(Title of Class of Securities)
N/A
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(CUSIP Number)
Jose Medeiros
President and Chief Operating Officer
Wesley Clover Corporation
555 Legget Drive
Tower B, Suite 534
Kanata, Ontario, Canada K2K 2X3
(613) 271-6305
(Name, Address and Telephone Number of Persons
Authorized to Receive Notices and Communications)
With a Copy to:
Susan J. Krembs
Osler, Hoskin & Harcourt LLP
1221 Avenue of the Americas, 26th Floor
New York, New York 10020
(212) 867-5800
September 21, 2006
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13(g), check the
following box [ ].
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See ss.240.13d-7(b) for other
parties to whom copies are to be sent.
SCHEDULE 13D
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CUSIP No. N/A
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Dr. Terence H. Matthews
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(SEE INSTRUCTIONS) (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Canada
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7 SOLE VOTING POWER
40,951,733
Number of --------------------------------------------------------------
Shares Bene- 8 SHARED VOTING POWER
icially Owned by
Each Reporting 94,555,169
Person With
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9 SOLE DISPOSITIVE POWER
40,951,733
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10 SHARED DISPOSITIVE POWER
94,555,169
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11 AGGREGATE AMOUNT OF BENEFICIALLY OWNED BY EACH REPORTING PERSON
135,506,902
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
66.1%
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14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
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SCHEDULE 13D
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CUSIP No. N/A
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Wesley Clover Corporation
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(SEE INSTRUCTIONS) (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Canada
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7 SOLE VOTING POWER
- 0 -
Number of --------------------------------------------------------------
Shares Bene- 8 SHARED VOTING POWER
icially Owned by
Each Reporting 94,555,169
Person With
--------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
94,555,169
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11 AGGREGATE AMOUNT OF BENEFICIALLY OWNED BY EACH REPORTING PERSON
94,555,169
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
46.1%
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14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO
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SCHEDULE 13D
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CUSIP No. N/A
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Celtic Tech Jet Limited
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(SEE INSTRUCTIONS) (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Canada
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7 SOLE VOTING POWER
- 0 -
Number of --------------------------------------------------------------
Shares Bene- 8 SHARED VOTING POWER
icially Owned by
Each Reporting 4,555,169
Person With
--------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,555,169
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11 AGGREGATE AMOUNT OF BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,555,169
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.2%
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14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO
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This Amendment No. 2 to Schedule 13D (this "Amendment No. 2") is being filed on
behalf of Dr. Terence H. Matthews ("Dr. Matthews"), Wesley Clover Corporation
("Wesley Clover") and Celtic Tech Jet Limited ("Celtic" and, together with Dr.
Matthews and Wesley Clover, the "Reporting Persons"), in connection with the
acquisition of certain Warrants (defined below) exercisable for common shares,
without par value (the "Common Shares") of Mitel Networks Corporation, a
corporation existing under the laws of Canada (the "Issuer"). This Amendment No.
2 amends and supplements the initial statement on Schedule 13D, filed on July
14, 2005, by the Reporting Persons, as amended and supplemented by Amendment No
1 on Schedule 13D, filed on May 5, 2006 as follows.
ITEM 4. PURPOSE OF TRANSACTION.
Item 4 is hereby amended and restated as follows:
The Reporting Persons are continuously evaluating the business and
prospects of the Issuer, and their present and future interests in, and
intentions with respect to, the Issuer.
Although the Reporting Persons do not have any specific plan or proposal
to acquire or dispose of any securities of the Issuer, the Reporting
Persons may from time to time formulate other plans or proposals that
relate to, might result in, or have the purpose or effect of changing or
influencing control of the Issuer, or that relate to or would result in
any of the events enumerated in Item 4 of Form Schedule 13D. Such plans or
proposals will depend upon the Reporting Persons ongoing evaluation of
their investment in the Issuer, prevailing market conditions, developments
affecting the Issuer, other opportunities, liquidity requirements of the
Reporting Persons, tax considerations and/or other considerations. Also,
the Reporting Persons or their representatives may engage in
communications with one or more directors, officers, representatives or
shareholders of the Issuer and/or third party advisors or financing
sources regarding the Issuer, including but not limited to, the Issuer's
operations, plans or prospects. The Reporting Persons may acquire
additional securities of the Issuer as they deem appropriate.
Alternatively, the Reporting Persons may dispose of some or all of the
securities of the Issuer in privately negotiated transactions or
otherwise. The Reporting Persons may discuss ideas that, if effected may
result in any of the events enumerated in Item 4 of Form Schedule 13D,
including the acquisition by other persons of shares of the Issuer, an
extraordinary corporate transaction involving the Issuer, and/or changes
in the board of directors or management of the Issuer. Except to the
extent the foregoing may be deemed a plan or proposal, the Reporting
Persons do not have any plans or proposals which relate to, or could
result in, any of the matters enumerated in Item 4 of Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5(c) is hereby supplemented as follows:
(c) Transactions in the Class of Securities Reported Effected during the Past
60 Days or Since the Most Recently Filed Schedule 13D, Whichever is Less,
by the Persons Name in Response to Paragraph (a):
On September 21, 2006, Wesley Clover acquired 15,000 warrants of the
Issuer (the "Warrants") for an aggregate purchase price of US$15
million. Each Warrant entitles the holder to purchase Common Shares
and, if the Warrants are exercised in connection with an initial
public offering (as defined in the Warrant), additional Warrants.
Each Warrant may only be exercised, and shall automatically be
exercised, upon the occurrence of certain "Exercise Events (as
defined in the Warrant), but in no event later than September 21,
2008. The number of securities of the Issuer obtainable upon
exercise of each Warrant is not fixed and is based on the specific
Exercise Event. A form of the Warrant is attached as Exhibit 1.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER.
Item 6 is hereby supplemented as follows:
See the response to Item 5(c) above.
Pursuant to a letter agreement between Dr. Matthews and Mary Mills, dated
February 6, 2004, Dr. Matthews granted to Mary Mills options to purchase
200,000 Common Shares and at a price of Cdn.$1.00 per Common Share. Such
options expire on August 1, 2007 and relate to Common Shares owned,
directly or indirectly, by Dr. Matthews.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Item 7 is hereby amended and supplemented by adding the following exhibits:
Warrant No. 2006-1, dated September 21, 2006 issued to Wesley Clover
Corporation, is filed as Exhibit 1 hereto.
Letter agreement, dated February 6, 2004, between Dr. Terence H. Matthews
and Mary Mills, is filed as Exhibit 2 hereto.
An Agreement for Joint Filing pursuant to Rule 13d-1(k)(1) under the
Securities Exchange Act of 1934, is filed as Exhibit 3 hereto.
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Dated: September 27, 2006
WESLEY CLOVER CORPORATION
By: /s/ Jose Medeiros
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Jose Medeiros
President and Chief Operating Officer
CELTIC TECH JET LIMITED
By: /s/ Jose Medeiros
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Jose Medeiros
President
/s/ Dr. Terence H. Matthews
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Dr. Terence H. Matthews