IN THE MATTER OF
THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED
IN THE MATTER OF
ADRIAN SAMUEL LEEMHUIS, FUTURE GROWTH
GROUP INC., FUTURE GROWTH FUND LIMITED,
FUTURE GROWTH GLOBAL FUND LIMITED,
FUTURE GROWTH MARKET NEUTRAL FUND
LIMITED, FUTURE GROWTH WORLD FUND, AND
ASL DIRECT INC.
VARIATION OF TEMPORARY ORDER
Sections 127, 144
WHEREAS the Ontario Securities Commission issued a temporary cease trade order on April 22, 2008 in respect of the respondents, the Future Growth Group Inc., Future Growth Fund Limited, Future Growth Global Fund Limited, Future Growth Market Neutral Fund Limited and Future Growth World Fund (collectively, "The Funds") and Adrian Leemhuis (the "Temporary Order");
AND WHEREAS the Temporary Order, as varied, has been extended from time to time;
AND WHEREAS the counsel for the Respondents and counsel for Staff appeared before the Commission on June 3, 2009 and the individual respondent, Adrian Leemhuis, through his counsel requested an exception to the Commission's Temporary Order to permit him to trade in his own personal accounts;
AND WHEREAS the requested trading in the individual respondents' personal accounts for his own benefit does not concern The Funds or ASL Direct Inc. or any of their activities;
AND WHEREAS Adrian Leemhuis has advised Staff of the account details in which he wishes to trade;
AND WHEREAS Adrian Leemhuis has advised the Commission and provided Staff with details of one trade in connection with an account held jointly at Brant Securities and Adrian Leemhuis has agreed to close the joint account held at Brant Securities;
AND WHEREAS Staff advised that they did not object to the making of this Order;
AND WHEREAS in the Commission's opinion this Order will not be prejudicial to the public interest;
IT IS ORDERED pursuant to sections 127 and 144 of the Act that the Temporary Order is varied to permit Adrian Leemhuis to trade in securities in accounts over which he has sole legal and beneficial ownership, except for trades in the Funds, provided that:
(i) he carries out any permitted trading through a registered dealer (which dealer must be given a copy of the written order before any trading in the accounts under this order occurs) and through accounts opened in his name only; and
(ii) he shall provide Staff with the particulars of the accounts (before any trading in the accounts under this order occurs) including the name of the registered dealer through which the trading will occur and the account numbers and he shall provide copies of all trade confirmation notices with respect to the accounts directly to Staff at the same time that such notices are provided to him and, in addition, shall provide Staff with a electronic copy of the current account activity/statements for the account(s) each week by no later than 6pm on the Friday of each week.
IT IS FURTHER ORDERED pursuant to section 127 of the Act that the Temporary Order of April 22, 2008, as varied, extended and amended herein, is continued in its terms, apart from the variation set out above.
DATED at Toronto this 3rd day of June, 2009.