MITEL NETWORKS CORPORATION (NASDAQ:MITL) Files An 8-K Entry into a Material Definitive AgreementItem 1.01.
On December6, 2017, Mitel Networks Corporation (“Mitel”) and certain shareholders of Mitel (the “Shareholders”) entered into a termination agreement (the “Termination Agreement”) to terminate a shareholders agreement between and among the Shareholders and Mitel dated April27, 2010 (the “Shareholders Agreement”). The Shareholders Agreement provided for certain matters relating to the management of Mitel and granted certain rights to, and imposed certain obligations on, the Shareholders with respect to their ownership of common shares in the capital of Mitel (the “Common Shares”).
Section7.1 of the Shareholders Agreement provided that the rights and obligations of the Francisco Partners Group and the Matthews Group, respectively, as those terms were defined in the Shareholders Agreement, would cease on the date the Francisco Partners Group and the Matthews Group, respectively, fail to beneficially own (as determined to Rule 13d-3 promulgated under the Securities Exchange Act of 1934, as amended) at least 5% of the outstanding Common Shares. Since neither the Francisco Partners Group nor the Matthews Group continued to beneficially own at least 5% of the outstanding Common Shares, Mitel and the Shareholders entered into the Termination Agreement.
The foregoing description of the Termination Agreement is not complete and is qualified in its entirety by reference to the full text of the Termination Agreement, which is attached hereto as Exhibit 10.1 and incorporated by reference herein. The Shareholders Agreement was previously filed as Exhibit99.3 to a Report of Foreign Private Issuer on Form 6-K furnished by Mitel on April28, 2010.
| Item 1.01. | Financial Statements and Exhibits. |
| (d) | Exhibits. The following exhibits are furnished herewith: |
| Exhibit No. | Description |
| 10.1 | Termination Agreement dated December6, 2017. |
MITEL NETWORKS CORP ExhibitEX-10.1 2 d463031dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 TERMINATION AGREEMENT THIS AGREEMENT is made as of December 6,…To view the full exhibit click here
About MITEL NETWORKS CORPORATION (NASDAQ:MITL)
Mitel Networks Corp is a Canada-based provider of business communications and collaboration software, services and solutions. The Company operates through three segments: Enterprise, Cloud and Mobile. The Enterprise segment sells and supports products and services for premise-based customers. The Cloud segment sells and supports products that are deployed in a cloud environment. The Mobile segment sells and supports software-based telecommunications networking solutions that enable mobile service providers to deliver IP-based voice, video, rich communications and enhanced messaging services to their subscribers. The Company’s product portfolio includes premises and cloud-based enterprise communications infrastructure products and solutions, unified communications and collaboration (UCC) and contact center applications and a range of service offerings.