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Form SC 13G TUCOWS INC /PA/ Filed by: Pembroke Management, LTD

February 8, 2016 1:13 PM EST
SECURITIES AND EXCHANGE COMMISSION
                        Washington, D.C. 20549
                             _____________



                SCHEDULE 13G
                (Rule 13d-102)

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

                (AMENDMENT NO. __)*

        Tucows Inc
        (Name of Issuer)

        Common Stock
        (Title of Class of Securities)

        898697206
        (CUSIP Number)

        December 31, 2015
        (Date of Event Which Requires Filing of This Statement)

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

        [ x ]   Rule 13d-1(b)
        [   ]   Rule 13d-1(c)
        [   ]   Rule 13d-1(d)


* 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).
 
CUSIP NO.     898697206
              ---------
        
---------------------------------------------------------------------------
(1)  NAMES OF REPORTING PERSONS
     Pembroke Management, LTD
---------------------------------------------------------------------------
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [   ]
(b) [   ]
---------------------------------------------------------------------------
(3) SEC USE ONLY
---------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION Canada
---------------------------------------------------------------------------
NUMBER OF         (5) SOLE VOTING POWER 534,928
SHARES            ---------------------------------------------------------
BENEFICIALLY      (6) SHARED VOTING POWER 0
OWNED BY          ---------------------------------------------------------
EACH              (7) SOLE DISPOSITIVE POWER 534,928
REPORTING         ---------------------------------------------------------
PERSON WITH       (8) SHARED DISPOSITIVE POWER 0
---------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    534,928
---------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
     [   ]
---------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.02%
---------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON
     IA
---------------------------------------------------------------------------
         
Item 1.
    (a) Name of Issuer:
        Tucows Inc
        
    (b) Address of Issuer's Principal Executive Offices:
        96 Mowat Avenue, Toronto, Ontario, Canada M6K 3M1

Item 2.
    (a) Name of Person Filing: 
        Pembroke Management, LTD
        
    (b) Address of Principal Business Office or, if None, Residence:
        1002 Sherbrooke Street West Suite 1700, Montreal, Quebec H3A 354
        
    (c) Citizenship: Canada
        
    (d) Title of Class of Securities: Common Stock

    (e) CUSIP Number: 898697206

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) [ x ] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
    (f) [   ] 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).
 
Item 4.         Ownership.

    (a) Amount beneficially owned: 534,928
    (b) Percent of class: 5.02%
    (c) Number of shares as to which the person has:
        (i) Sole power to vote or to direct the vote: 534,928
        (ii) Shared power to vote or to direct the vote: 0
        (iii) Sole power to dispose or to direct the disposition of: 
                534,928
        (iv) Shared power to dispose or to direct the disposition of: 
	        0

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

        If this statement is being filed to report the fact that as of the 
        date hereof the reporting person has ceased to be the beneficial 
        owner of more than five percent of the class of securities, 
        check the following  [   ]

Item 6. Ownership of More than Five Percent on Behalf of Another Person.

        Clients of 
            Pembroke Management, LTD
        have the right to receive or the power to direct the receipt of 
        dividends from, or the proceeds from the sale of the common stock 
        reported as beneficially owned by 
            Pembroke Management, LTD
        No client beneficially owns more than 5% of the issuer's common stock.
         


Item 7. Identification and Classification of the Subsidiary Which Acquired 
        the Security Being Reported on by the Parent Holding Company or 
        Control Person.

        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. Certification.

        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 that purpose or effect.

                                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.

        
        Filer 
                Pembroke Management, LTD

        By:
                /s/ Michael McLaughlin
         
        Name:
                Michael McLaughlin
        
        Title:
                Partner

        Date:
                February 8, 2016



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