Proceedings

Notice from the
Office of the Secretary

Ontario

Ontario Securities
Commission


20 Queen St. W.
Box 55, Suite 1900
Toronto, ON M5H 3S8
Commission des valeurs mobilières de l'Ontario

FOR IMMEDIATE RELEASE

May 11, 2006


IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S. 5, AS AMENDED

AND

IN THE MATTER OF JOSEPH EDWARD ALLEN, ABEL DA SILVA,
CHATERAM RAMDHANI, AND SYED KABIR

TORONTO – Following a hearing held on January 9, March 9 and 22, 2006, the Commission issued its decision regarding sanctions against the respondents Joseph Edward Allen, Abel da Silva, Chateram Ramdhani and Syed Kabir.

On October 12, 2005, the Commission issued a decision where it found that the respondents violated sections 25(1) and 53 and, in the case of Joseph Edward Allen, section 36 of the Securities Act. The Commission also found that the respondents acted contrary to the public interest.

A copy of the decision on sanctions and reasons is available at www.osc.gov.on.ca

OFFICE OF THE SECRETARY
JOHN P. STEVENSON
SECRETARY

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