Edgar Filing: LEBLANC & ROYLE ENTERPRISES INC

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

SCHEDULE 13D

UNDER THE SECURITIES EXCHANGE ACT OF 1934

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO

RULE 13d-2(a)

SR TELECOM INC.
---------------
(Name of Issuer)

Common Stock, no par value
------------------------------
(Title of Class of Securities)

78464P208
(CUSIP Number)

with a copy to:

Ronald A. Fleming, Jr., Esq.
Pillsbury Winthrop LLP
One Battery Park Plaza
New York, New York 10004-1490
(212) 858-1000

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

September 4, 2003
--------------------------
(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 that is the subject of this Schedule 13D, and is filing this
Schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following
box:

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CUSIP NO. 78464P208 13D PAGE 2 OF 15 PAGES
------------------- ------------------

--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON

LeBlanc & Royle Enterprises Inc. I.R.S. I.D. # N/A
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY

--------------------------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 1,422,957
BENEFICIALLY -----------------
OWNED BY 8. SHARED VOTING POWER
EACH PERSON 0
WITH -----------------
9. SOLE DISPOSITIVE POWER
1,422,957
-----------------
10. SHARED DISPOSITIVE POWER
0
-----------------
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 1,422,957
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.7%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
CO

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CUSIP NO. 78464P208 13D PAGE 3 OF 15 PAGES
------------------- ------------------

--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON

John C. Charles I.R.S. I.D. # N/A
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY

--------------------------------------------------------------------------------
4. SOURCE OF FUNDS OO
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Canada
--------------------------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 1,000
BENEFICIALLY -----------------
OWNED BY 8. SHARED VOTING POWER
EACH PERSON 1,422,957
WITH -----------------
9. SOLE DISPOSITIVE POWER
1,000
-----------------
10. SHARED DISPOSITIVE POWER
1,422,957
-----------------
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 1,423,957
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.7%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN

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CUSIP NO. 78464P208 13D PAGE 4 OF 15 PAGES
------------------- ------------------

--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON

Paul A. Dickie I.R.S. I.D. # N/A
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY

--------------------------------------------------------------------------------
4. SOURCE OF FUNDS OO
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Canada
--------------------------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 169,300*
BENEFICIALLY -----------------
OWNED BY 8. SHARED VOTING POWER
EACH PERSON 1,422,957
WITH -----------------
9. SOLE DISPOSITIVE POWER
169,300*
-----------------
10. SHARED DISPOSITIVE POWER
1,422,957
-----------------
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 1,592,257*
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
15.3%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN

* Includes 500 shares of common stock underlying options of which 300 are
immediately exercisable.

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CUSIP NO. 78464P208 13D PAGE 5 OF 15 PAGES
------------------- ------------------

--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON

Nancy E. McGee I.R.S. I.D. # N/A
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY

--------------------------------------------------------------------------------
4. SOURCE OF FUNDS OO
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Canada
--------------------------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 62,500*
BENEFICIALLY -----------------
OWNED BY 8. SHARED VOTING POWER
EACH PERSON 1,422,957
WITH -----------------
9. SOLE DISPOSITIVE POWER
62,500*
-----------------
10. SHARED DISPOSITIVE POWER
1,422,957
-----------------
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 1,485,457*
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.2%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN

* Includes 500 shares of common stock underlying options of which 300 are
immediately exercisable.

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CUSIP NO. 78464P208 13D PAGE 6 OF 15 PAGES
------------------- ------------------

--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON

George E. Patton I.R.S. I.D. # N/A
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY

--------------------------------------------------------------------------------
4. SOURCE OF FUNDS OO
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Canada
--------------------------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 103,000
BENEFICIALLY -----------------
OWNED BY 8. SHARED VOTING POWER
EACH PERSON 1,422,957
WITH -----------------
9. SOLE DISPOSITIVE POWER
103,000
-----------------
10. SHARED DISPOSITIVE POWER
1,422,957
-----------------
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 1,526,057
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.6%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN

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CUSIP NO. 78464P208 13D PAGE 7 OF 15 PAGES
------------------- ------------------

Item 1. Security and Issuer.
-------------------

This statement on Schedule 13D relates to the Common Stock, no
par value (the "Shares"), of SR Telecom Inc., a corporation organized under the
Canada Business Corporations Act (the "Issuer"). The principal executive offices
of the Issuer are located at 8150 Trans-Canada Highway, Montreal, Quebec, Canada
H4S 1M5.

Item 2. Identity and Background.
-----------------------

(a) - (c), (f)This statement is being filed by the following
corporation and individuals (the "Filing Parties"):

1. LeBlanc & Royle Enterprises Inc. ("LeBlanc & Royle") is a
Canadian privately-held holding company that owns, manages, invests in and
provides consulting services to telecommunications-related businesses. The
address of the principal executive offices and principal business of LeBlanc &
Royle is 4903-47th Street, P.O. Box 2316, Yellowknife, Northwest Territories
X1A 2P7.

2. John C. Charles. Mr. Charles's principal occupation is as a
Managing Director of LeBlanc & Royle. His principal business address is 75 Navy
Street, Suite 300, Oakville, Ontario L6J 2Z1.

3. Paul A. Dickie. Mr. Dickie's principal occupation is as a
Managing Director of LeBlanc & Royle. His principal business address is 75 Navy
Street, Suite 300, Oakville, Ontario L6J 2Z1.

4. Nancy E. McGee. Ms. McGee's principal occupation is as a
Managing Director of LeBlanc & Royle. Her principal business address is 75 Navy
Street, Suite 300, Oakville, Ontario L6J 2Z1.

5. George E. Patton. Ms. McGee's principal occupation is as a
Managing Director of LeBlanc & Royle. His principal business address is 75 Navy
Street, Suite 300, Oakville, Ontario L6J 2Z1.

(d) - (e) During the past five years, none of the Filing Parties
has been convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors).

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CUSIP NO. 78464P208 13D PAGE 8 OF 15 PAGES
------------------- ------------------

During the past five years, none of the Filing Parties was a
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction as a result of which such person was or is subject to a judgment,
decree or final order enjoining future violations of, or prohibiting or
mandating activity subject to, federal or state securities laws or finding any
violation with respect to such laws.

Each of the individuals listed in this Item 2 hereto is a citizen
of Canada.

Item 3. Source and Amount of Funds or Other Consideration.
--------------------------------------------------

On August 25, 2003, the Issuer's Registration Statement on Form
8-A filed under the Securities Exchange Act of 1934 with respect to the Shares
of the Issuer became effective and the Shares began trading on the Nasdaq
National Market on September 3, 2003.

On September 3, 2003, Paul A. Dickie purchased 1,000 Shares in an
open market transaction on the Nasdaq National Market at an average cost of 5.45
U.S. dollars per share. Mr. Dickie used personal funds for the purchase.

On September 5, 2003, Nancy E. McGee purchased 2,000 Shares in an
open market transaction on the Toronto Stock Exchange at an average cost of 7.10
Canadian dollars per share (equivalent to 5.18 U.S. dollars per share at the
Federal Reserve Bank of New York Noon Buying Rate for September 5, 2003). Ms.
McGee used personal funds for the purchase.

Item 4. Purpose of Transaction.
----------------------

Paul A. Dickie and Nancy E. McGee have acquired the Shares listed
in Item 3 for investment purposes. The Shares previously acquired and
beneficially owned by each of the Filing Parties were acquired for investment
purposes from time to time. Each of the Filing Parties may from time to time
acquire additional Shares or dispose of some or all of its Shares. From time to
time, each of the Filing Parties has engaged in discussions with the Issuer and
its officers, directors, and other significant shareholders relating to the
Issuer's policies, management, directors, business, operations, financial
condition, strategies and other developments, and each of the Filing Parties
intends to engage in such discussions in the future.

(a)-(j) The Filing Parties do not currently have any plans or
proposals which would result in any of the following:

1. The acquisition by any person of additional Shares or the
disposition of Shares;

2. An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the Issuer or any of its subsidiaries;

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CUSIP NO. 78464P208 13D PAGE 9 OF 15 PAGES
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3. A sale or transfer of a material amount of assets of the
Issuer or of any of its subsidiaries;

4. Any change in the present board of directors or management of
the Issuer, including any plans or proposals to change the number or term of
directors or to fill any vacancies on the board;

5. Any material change in the present capitalization or dividend
policy of the Issuer;

6. Any other material change in the Issuer's business or
corporate structure;

7. Change in the Issuer's charter, by-laws or instruments
corresponding thereto or other actions which may impede the acquisition of
control of the Issuer by any person;

8. Causing a class of securities of the Issuer to be delisted
from a national securities exchange or to cease to be authorized to be quoted in
an inter-dealer quotation system of a registered national securities
association;

9. A class of equity securities of the Issuer becoming eligible
for termination of registration pursuant to Section 12(g)(4) of the Securities
Exchange Act of 1934, as amended; or

10. Any action similar to any of those enumerated above.

Item 5. Interest in Securities of the Issuer.
------------------------------------

(a) - (b)

1. As of the date hereof, LeBlanc & Royle owns 1,422,957 Shares,
or approximately 13.7% of the 10,422,291 Shares outstanding as of September 4,
2003 (the "Outstanding Shares"). LeBlanc & Royle has the sole power to vote and
to dispose of such Shares.

2. As of the date hereof, John C. Charles beneficially owns 1,000
Shares or approximately 0.01% of the Outstanding Shares. Mr. Charles has the
sole power to vote and dispose of such Shares. In addition, by virtue of his
position as a Managing Director of LeBlanc & Royle, Mr. Charles may be deemed to
beneficially own the Shares referenced in paragraph 1 above. Mr. Charles
disclaims beneficial ownership of such Shares.

3. As of the date hereof, Paul A. Dickie beneficially owns
169,300 Shares (including 500 Shares underlying options of which 300 are
immediately exercisable options) or approximately 1.6% of the Outstanding
Shares. Mr. Dickie has the sole power to vote and dispose of such Shares. In
addition, by virtue of his position as a Managing Director of LeBlanc & Royle,
Mr. Dickie may be deemed to beneficially own the Shares referenced in paragraph
1 above. Mr. Dickie disclaims beneficial ownership of such Shares.

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CUSIP NO. 78464P208 13D PAGE 10 OF 15 PAGES
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4. As of the date hereof, Nancy E. McGee beneficially owns 62,500
Shares (including 500 Shares underlying options of which 300 are immediately
exercisable options) or approximately 0.6% of the Outstanding Shares. Ms. McGee
has the sole power to vote and dispose of such Shares. In addition, by virtue of
her position as a Managing Director of LeBlanc & Royle, Ms. McGee may be deemed
to beneficially own the Shares referenced in paragraph 1 above. Ms. McGee
disclaims beneficial ownership of such Shares.

5. As of the date hereof, George E. Patton beneficially owns
103,100 Shares or approximately 1.0% of the Outstanding Shares. Mr. Patton has
the sole power to vote and dispose of such Shares. In addition, by virtue of his
position as a Managing Director of LeBlanc & Royle, Mr. Patton may be deemed to
beneficially own the Shares referenced in paragraph 1 above. Mr. Patton
disclaims beneficial ownership of such Shares.

Approximate Price
Filing Party Per Share Description of
Acquiring Shares Date Amount of Shares (exclusive of commissions) Transaction
---------------- ---- ---------------- -------------------------- --------------------

Paul A. Dickie 09/03/2003 1,000 US$5.45 Open market purchase

Nancy E. McGee 09/05/2003 2,000 CDN$7.10* Open market purchase

* Equivalent to US$5.18 per share at the Federal Reserve Bank of New York Noon
Buying Rate for September 5, 2003.

(d) No other person or entity has the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of, the
Shares beneficially owned by the Filing Parties.

(e) Not applicable.

Item 6. Contracts, Arrangements, Understandings or Relationships with
-------------------------------------------------------------
Respect to Securities of the Issuer.
------------------------------------

Neither the Filing Parties has any contract, arrangement,
understanding or relationship (legal or otherwise) with any person with respect
to any securities of the Issuer, including, but not limited to, the transfer or
voting of any such securities, finders' fees, joint ventures, loan or option
arrangements, puts or calls, guarantees of profits, division of profits or loss,
or the giving or withholding of proxies.

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CUSIP NO. 78464P208 13D PAGE 11 OF 15 PAGES
------------------- -------------------

Item 7. Material to be Filed as Exhibits.
---------------------------------

Exhibit A --Joint Filing Agreement dated as of September 17, 2003 by
and among LeBlanc & Royle Enterprises Inc., John C. Charles, Paul A. Dickie,
Nancy E. McGee and George E. Patton.

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CUSIP NO. 78464P208 13D PAGE 12 OF 15 PAGES
------------------- -------------------

SIGNATURE

Each of the following certifies that the information set forth in
this statement is true, complete and correct after reasonable inquiry and to the
best of its knowledge and belief.

Dated: September 17, 2003

LEBLANC & ROYLE ENTERPRISES INC.

By: /s/ Paul A. Dickie
----------------------------
Name: Paul A. Dickie
Title: Managing Director

/s/ John C. Charles
--------------------------------
John C. Charles

/s/ Paul A. Dickie
--------------------------------
Paul A. Dickie

/s/ Nancy E. McGee
--------------------------------
Nancy E. McGee

/s/ George E. Patton
--------------------------------
George E. Patton

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CUSIP NO. 78464P208 13D PAGE 13 OF 15 PAGES
------------------- -------------------

Exhibit Index

Name of Exhibit

A. Joint Filing Agreement dated as of September 17, 2003 by and among LeBlanc
& Royle Enterprises Inc., John C. Charles, Paul A. Dickie, Nancy E. McGee
and George E. Patton.