VANCOUVER, British Columbia, Dec. 2022 (GLOBE NEWSWIRE) — TELUS Corporation (“ TELUS “) announced today that it has acquired, through an indirect wholly-owned subsidiary, a total of 92,419 subordinate voting shares of the capital stock of TELUS International (Cda) Inc. ( ” TELUS International ”) in the context of purchases on the market through the facilities of the Toronto Stock Exchange and the New York Stock Exchange. If we add the 1,322,481 subordinate voting shares acquired at the beginning of November 2022, the total of 1,414,900 subordinate voting shares (the ” shares purchased ”) represents more than 2% of the outstanding subordinate voting shares acquired since the previous notification according to the TELUS alert system, which was filed on June 29, 2022.
“Our purchase of additional shares of TELUS International demonstrates its importance to TELUS and our belief that this is an attractive investment opportunity, particularly given current price levels,” said Darren Entwistle, President and CEO of TELUS. The purchase of these shares also reflects the promising prospects for profitable growth of TELUS International, which benefits from the significant synergies between the various TELUS businesses, in particular between TELUS Health and TELUS Agriculture & Consumer Goods, which synergies will be reinforced by the acquisition by WillowTree. These investments also demonstrate our great confidence in the TELUS International team and in its excellent ability to achieve its strategic growth objectives. »
The shares purchased represent approximately 2.12% of the outstanding subordinate voting shares of TELUS International and approximately 0.53% of the total shares outstanding. The purchased shares were acquired at an average purchase price of C$26.43.
The purchase of the Purchased Shares is made pursuant to the normal course purchase exemption provided for in Section 4.1 of the Regulation 62-104 respecting take-over and issuer bids.
Prior to the December purchase, TELUS held a total of 149,504,019 TELUS International Multiple Voting Shares and 1,322,481 Subordinate Voting Shares, which were acquired through market purchases in November 2022. These securities represent approximately 74.78% of the outstanding multiple voting shares, 72.43% of the outstanding voting rights attached to all of the shares of TELUS International and approximately 56.59% of the total outstanding shares. traffic. After taking into account the December Market Purchase (as of December 15, 2022), TELUS holds a total of 149,504,019 Multiple Voting Shares and 1,414,900 Subordinate Voting Shares. Shares held by TELUS now represent approximately 74.78% of the outstanding multiple voting shares, 2.12% of the outstanding subordinate voting shares, 56.63% of the outstanding shares of TELUS International and 72. 44% of the outstanding voting rights of TELUS International. The multiple voting shares of TELUS International may be converted into subordinate voting shares on a one-for-one basis at any time.
TELUS has purchased the purchased shares for investment purposes and may or may not buy or sell multiple voting shares, subordinate voting shares or other securities of TELUS International in the future on the open market or in over-the-counter transactions, depending on market conditions and other factors. TELUS currently has no other plans or intentions with respect to its investment in TELUS International. Depending on general market, economic and industry conditions, the business and financial condition of TELUS International and/or other relevant factors, TELUS may make other plans or intentions at any time with respect to a or more of the above. A copy of the early warning report to be filed by TELUS in connection with the acquisition will be available under TELUS International’s profile on SEDAR at www.sedar.com. You may also contact TELUS Investor Relations at 1-800-667-4871 to obtain a copy of the statement.
The head office and executive office of TELUS International is located at Floor 7, 510 West Georgia Street, Vancouver, British Columbia, Canada V6B 0M3.
TELUS (TSX: T, NYSE: TU) is a dynamic communications technology company and a global leader, with $17 billion in annual revenue and 17 million wireless customer connections , its data and voice services, its IP services and its television, video, entertainment and security services. Our social vocation is to leverage our cutting-edge technologies and compassion to produce remarkable social change and impact on the human level. We have long put customers first. This orientation is reflected in all our spheres of activity and has enabled us to become an undeniable leader in customer loyalty and service. Year after year, TELUS receives numerous awards from independent companies recognized for their network expertise. These honors confirm the power and speed of our world-class networks and our commitment to providing Canadians with superior technologies that connect us to the people, resources and information that make our lives better.
Present in 28 countries, TELUS International (TSX and NYSE: TIXT) innovates in the field of digital customer experience. It designs, produces and delivers next-generation content moderation and artificial intelligence solutions for global market-creating companies. It is active in high-growth sectors, such as technology and gaming, communications and media, e-commerce and fintech.
TELUS Health is a global healthcare company that provides preventive care and wellness solutions for employees and their families. In addition to providing unparalleled customer service to already more than 60 million people, the TELUS team and the 100,000 healthcare professionals they work with rely on the digital capabilities and analytics tools of TELUS data to transform outcomes in curative, preventive and mental health care around the world. The largest provider of payload data and digital solutions of its kind, TELUS Agriculture & Consumer Goods enables efficient and sustainable production, from seedlings to groceries. Through end-to-end traceability, it helps improve the safety and quality of food and other consumer products.
True to the company’s deeply rooted community philosophy “We give where we live” and its visionary determination to passionately connect all citizens to make the world a better place, TELUS team members, current and retired, have offered since 2000 more than $900 million and 1.8 million days of volunteering to the community, not counting their in-kind contributions, their time and the programs they have set up. The unprecedented generosity of team members and their incredible volunteer work have made TELUS the most generous company in the world. Together, let’s create a better future.
To learn more about TELUS, visit telus.com or follow us on Twitter @TELUSNews and on Instagram @Darren_Entwistle.
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