Offer to purchase CLEARNET.pdf - About TELUS

Pre-emptive Rights
GTE Corporation (a part of Verizon Communications) has the right to acquire its pro rata share of any
issue by TELUS of TELUS Common Shares or TELUS Non-Voting Shares including the TELUS Non-Voting
Shares to be issued under the Offers.
Price Range and Trading Volume of TELUS Non-Voting Shares
The TELUS Non-Voting Shares are listed and posted for trading on the TSE. The following table sets forth
the high and low sales prices and volumes of sales of the TELUS Non-Voting Shares traded on the TSE for the
periods indicated.
High
Price Range
Low Volume
$ $ (No. of
Shares)
2000
First Quarter .................................... 44.25 33.00 10,348,416
April .......................................... 43.05 37.50 1,833,287
May .......................................... 41.75 34.60 3,126,084
June .......................................... 42.95 35.50 3,013,593
July ........................................... 46.45 40.10 1,701,073
August ........................................ 46.15 34.10 16,716,510
September 1 to September 18 ........................
1999
40.65 38.55 5,247,990
February 1 to March 31 ............................ 40.75 33.50 5,423,080
Second Quarter .................................. 39.50 33.95 4,251,753
Third Quarter ................................... 35.35 28.80 3,700,192
Fourth Quarter .................................. 35.95 27.25 4,522,370
There is no history of trading of TELUS Non-Voting Shares prior to February 1, 1999 as those shares were
issued as part of the arrangement between BC Telecom Inc. and TELUS Corporation on that date.
On August 18, 2000, the last trading day prior to the public announcement by TELUS of its intention to
make the Offers, the closing trading price of a TELUS Non-Voting Share was $43.25 per share and the weighted
average trading price of the TELUS Non-Voting Shares was $42.79, on the TSE. The closing price of a TELUS
Non-Voting Share on September 18, 2000 was $39.60 on the TSE.
Ownership of TELUS Shares
To the knowledge of the Offerors and their directors and officers after reasonable inquiry, no person or
company beneficially owns, directly or indirectly, or controls or exercises direction over more than 10% of any
class of equity securities of TELUS or shares of TELUS carrying more than 10% of the votes attached to the
shares of TELUS other than Anglo-Canadian Telephone Company (‘‘Anglo-Canadian’’) which owned, directly
and indirectly on September 18, 2000, 47,354,954 TELUS Common Shares and 15,784,984 TELUS Non-Voting
Shares representing approximately 26.6% of the issued and outstanding TELUS Common Shares and TELUS
Non-Voting Shares, respectively. Anglo-Canadian is beneficially owned and controlled as to 100% of its
Common Shares by GTE Corporation, a part of Verizon Communications of New York. No person or company
is acting jointly or in concert with the Offerors.
Dividend Policy
The declaration and payment of dividends is at the sole discretion of its board of directors and will be
dependent upon TELUS’ results of operations, financial condition and cash requirements from time to time, and
subject to restrictions on dividends set forth in TELUS’ existing and future credit arrangements. Since
February 1, 1999, the board of directors of TELUS has declared and paid quarterly dividends of $0.35 per
TELUS Non-Voting Share. It is not TELUS’ current intention to reduce dividend payments. See also
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