METHANEX CORP
SC 13G, 2000-02-03
INDUSTRIAL ORGANIC CHEMICALS
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<PAGE>   1


                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G
                                 (Rule 13d-102)


             INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
           TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED
                           PURSUANT TO RULE 13d-2(b)

                         (Amendment No.            )(1)


                              METHANEX CORPORATION
- --------------------------------------------------------------------------------
                                (Name of Issuer)


                                     COMMON
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)


                                   59151K108
- --------------------------------------------------------------------------------
                                 (CUSIP Number)


                               DECEMBER 31, 1999
- --------------------------------------------------------------------------------
            (Date of Event Which Requires Filing of this Statement)


     Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:

          [_]  Rule 13d-1(b)

          [_]  Rule 13d-(c)

          [_]  Rule 13d-1(d)


- ----------
(1)  The remainder of this cover page shall be filled out for a reporting
     person's initial filing on this form with respect to the subject class of
     securities, and for any subsequent amendment containing information which
     would alter the disclosures provided in a prior cover page.

     The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).





<PAGE>   2
CUSIP No.  59151K108                   13G                Page  2  of  5  Pages
- --------------------------------------------------------------------------------
1.   NAME OF REPORTING PERSONS

        ONTARIO MUNICIPAL EMPLOYEES RETIREMENT BOARD

     I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

           04 2722987
           ONE UNIVERSITY AVENUE, SUITE 1000, TORONTO, ONTARIO, CANADA M5J 2P1
- --------------------------------------------------------------------------------
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a)  [_]
                                                                 (b)  [_]
           INAPPLICABLE
- --------------------------------------------------------------------------------
3.   SEC USE ONLY



- --------------------------------------------------------------------------------
4.   CITIZENSHIP OR PLACE OF ORGANIZATION

           ONTARIO, CANADA

- --------------------------------------------------------------------------------
  NUMBER OF    5.   SOLE VOTING POWER

   SHARES           9,166,800
               -----------------------------------------------------------------
BENEFICIALLY   6.   SHARED VOTING POWER

  OWNED BY          0
               -----------------------------------------------------------------
    EACH       7.   SOLE DISPOSITIVE POWER

  REPORTING         7,319,600
               -----------------------------------------------------------------
   PERSON      8.   SHARED DISPOSITIVE POWER

    WITH            1,847,200
- --------------------------------------------------------------------------------
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           9,166,800

- --------------------------------------------------------------------------------
10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

        INAPPLICABLE                                                     [_]

- --------------------------------------------------------------------------------
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           5.2945%

- --------------------------------------------------------------------------------
12.  TYPE OF REPORTING PERSON*

           EP

- --------------------------------------------------------------------------------
                     *SEE INSTRUCTIONS BEFORE FILLING OUT!


<PAGE>   3
CUSIP No.  59151K108                   13G                Page  3  of  5  Pages
- --------------------------------------------------------------------------------
Item 1(a).  Name of Issuer:

                     METHANEX CORPORATION

- --------------------------------------------------------------------------------
Item 1(b).  Address of Issuer's Principal Executive Offices:

                     1800 WATERFRONT CENTRE, 200 BURRARD STREET,
                     VANCOUVER, BRITISH COLUMBIA, CANADA   V6C 3M1
- --------------------------------------------------------------------------------
Item 2(a).  Name of Person Filing:

                     ONTARIO MUNICIPAL EMPLOYEES RETIREMENT FUND

- --------------------------------------------------------------------------------
Item 2(b).  Address of Principal Business Office, or if None, Residence:

                       ONE UNIVERSITY AVENUE, SUITE 1000
                        TORONTO, ONTARIO, CANADA M5J 2P1
- -------------------------------------------------------------------------------
Item 2(c).  Citizenship:

                     INCORPORATED IN ONTARIO, CANADA

- --------------------------------------------------------------------------------
Item 2(d).  Title of Class of Securities:

                     COMMON

- --------------------------------------------------------------------------------
Item 2(e).  CUSIP Number:

                     59151K108

- --------------------------------------------------------------------------------
Item        3. If This Statement is Filed Pursuant to Rule 13d-1(b), or
            13d-2(b) or (c), Check Whether the Person Filing is a:

     (a)  [_]  Broker or dealer registered under Section 15 of the Exchange Act.

     (b)  [_]  Bank as defined in Section 3(a)(6) of the Exchange Act.

     (c)  [_]  Insurance  company as defined in Section 3(a)(19) of the Exchange
               Act.

     (d)  [_]  Investment  company  registered under Section 8 of the Investment
               Company Act.

     (e)  [_]  An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);

     (f)  [X]  An employee  benefit plan or endowment  fund in  accordance  with
               Rule 13d-1(b)(1)(ii)(F);

     (g)  [_]  A parent  holding  company or control  person in accordance  with
               Rule 13d-1(b)(1)(ii)(G);

     (h)  [_]  A savings  association  as defined in Section 3(b) of the Federal
               Deposit Insurance Act;

     (i)       [_] A church plan that is excluded from the definition of an
               investment company under Section 3(c)(14) of the Investment
               Company Act;

     (j)  [_]  Group, in accordance with Rule 13d-1(b)(1)(ii)(J).


     If this statement is filed pursuant to Rule 13d-1(c), check this box. [_]



<PAGE>   4
CUSIP No.  59151K108                   13G                Page  4  of  5  Pages
- --------------------------------------------------------------------------------
Item 4.  Ownership.

     Provide the following information, regarding the aggregate number and
Percentage of the class of securities of the issuer identified in Item 1, if
ownership exceeds five percent.

 (a)  Amount beneficially owned:                9,166,800


 (b)  Percent of class:                          5.2945%


 (c)  Number of shares as to which such person has:

      (i)   Sole power to vote or to direct the vote                  9,166,800

      (ii)  Shared power to vote or to direct the vote                     0

      (iii) Sole power to dispose or to direct the disposition of     7,319,600

      (iv)  Shared power to dispose or to direct the disposition of   1,847,200


- --------------------------------------------------------------------------------
Item 5.  Ownership of Five Percent or Less of a Class.

                     NOT APPLICABLE
- --------------------------------------------------------------------------------
Item 6.  Ownership of More Than Five Percent on Behalf of Another Person.

                     NOT APPLICABLE
- --------------------------------------------------------------------------------
Item 7.  Identification and Classification of the Subsidiary Which Acquired the
         Security Being Reported on by the Parent Holding Company.

                     NOT APPLICABLE
- --------------------------------------------------------------------------------
Item 8.  Identification and Classification of Members of the Group.

                     NOT APPLICABLE
- --------------------------------------------------------------------------------
Item 9.  Notice of Dissolution of Group.

                     NOT APPLICABLE
- --------------------------------------------------------------------------------
Item 10.  Certifications.

     (a)  The following certification shall be included if the statement is
          filed pursuant to Rule 13d-1(b):

          "By signing below I certify that, to the best of my knowledge and
          belief, the securities referred to above were acquired and are held
          in the ordinary course of business and were not acquired and not held
          for the purpose of or with the effect of changing or influencing the
          control of the issuer of the securities and were not acquired and are
          not held in connection with or as a participant in any transaction
          having such purpose or effect."


     (b)  The following certification shall be included if the statement is
          filed pursuant to Rule 13d-1(c):

          "By signing below I certify that, to the best of my knowledge and
          belief, the securities referred to above were not acquired and are
          not held for the purpose of or with the effect of changing or
          influencing the control of the issuer of the securities and were not
          acquired and are not held in connection with or as a participant in
          any transaction having such purpose or effect."




<PAGE>   5
CUSIP No.  59151K108                   13G                Page  5  of  5  Pages

                                   SIGNATURE

     After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.


                                                  January 28, 2000
                                        ----------------------------------------
                                                        (Date)



                                        /s/ DAVID ESTABROOKS
                                        ----------------------------------------
                                         David Estabrooks
                                         Vice President, Financial Services




Note. Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties for whom copies are to be sent.

Attention.  Intentional  misstatements  or omissions of fact constitute  federal
criminal violations (see 18 U.S.C. 1001).






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