Mignonne Spiegelman Shareholder

May 18, 2011 17:48 ET

Mignonne Spiegelman Acquires Control Over Telehop Common Shares

TORONTO, ONTARIO--(Marketwire - May 18, 2011) - Mignonne Spiegelman announces, pursuant to a May 18, 2011 Order of the Ontario Superior Court of Justice (the "Court Order"), she has acquired ownership and control of 1,192,500 common shares of Telehop Communications Inc. ("Telehop") held by the Estate of Hersh Spiegelman (the "Hersh Spiegelman Shares"). Pursuant to the Court Order, Ms. Spiegelman was also appointed the trustee for the Estate of Hersh Spiegelman (the "Estate Trustee") and replaced Alan Socken, the Estate Trustee During Litigation. As Estate Trustee, Mrs. Spiegelman gained indirect control of the Spigelman Family Trust, which holds 1,470,000 common shares of Telehop (the "Trust Shares"), through the power of the Estate Trustee to appoint the trustees for Spiegelman Family Trust. The Court Order states that Ms. Spiegelman may advise the trustees of the Spiegelman Family Trust as to how to vote the Trust Shares, subject to the trustees' discretion and duty to act in good faith, with respect to the May 25, 2011 Annual and Special Shareholders Meeting of Telehop.

The Hersh Spiegelman Shares and the Trust Shares represent approximately 19.9% of the total issued common shares of Telehop.

Combined with the Telehop common shares previously owned and controlled, Ms. Spiegelman and joint actors now own and control a total of 4,378,920 common shares, representing approximately 32.7% of the total issued common shares of Telehop. The Children's Lawyer, who was previously referred to in an April 20, 2011 Press Release, is not a joint actor with Ms. Spiegelman.

In addition, Ms. Spiegelman may acquire voting control over additional securities of Telehop in connection with the May 25, 2011 Annual and Special Shareholders Meeting of Telehop.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Mignonne Spiegelman
    416-271-1417
    8 Thamesford Court,
    Toronto, ON M3H 5Z9