VANCOUVER, BC, Aug. 15,
2024 /CNW/ - TELUS Corporation ("TELUS") today
announced that it has acquired, through a wholly owned subsidiary,
an aggregate of 2,593,178 subordinate voting shares (the
"Purchased Shares") in the capital of TELUS International
(Cda) Inc. ("TELUS Digital") by way of market purchases over
the facilities of the Toronto Stock Exchange. The acquired
subordinate voting shares (the "Purchased Shares") represent
more than 2% of the outstanding subordinate voting shares acquired
since TELUS' prior early warning report filed on May 16, 2023.
"In response to TELUS Digital's unprecedented valuation levels,
we are strategically stepping in to support the share trading
activity by incrementally increasing our existing ownership of the
subordinate voting shares in the public market," said Darren Entwistle, President and CEO of TELUS.
"These purchases signal our continued confidence in TELUS Digital's
longer-term profitable growth opportunities as a stand-alone public
issuer and are not part of a strategy to privatize the business. As
an anchor client, and as a significant shareholder, we are
confident TELUS Digital can create meaningful and sustainable value
for all stakeholders over time."
The Purchased Shares represent approximately 2.3% of the
outstanding subordinate voting shares of TELUS Digital and
approximately 0.9% of all outstanding shares. The Purchased Shares
were acquired at an average purchase price of C$4.25.
The purchase of the Purchased Shares is being made pursuant to
the normal course purchase exemption set forth in section 4.1 of
National Instrument 62-104.
Before giving effect to the purchase in August, TELUS held an
aggregate of 152,004,019 multiple voting shares of TELUS Digital
and 1,438,013 subordinate voting shares. These securities
represented approximately 92.5% of the outstanding multiple voting
shares and 86.7% of the outstanding voting rights attached to all
shares of TELUS Digital and approximately 55.8% of the total shares
outstanding, reflecting the conversion by Riel B.V. of multiple
voting shares into subordinate voting shares. After giving effect
to the market purchases, TELUS holds an aggregate of 152,004,019
multiple voting shares and 4,031,191 subordinate voting shares. The
shares held by TELUS now represent approximately 92.5% of the
outstanding multiple voting shares, 3.6% of the outstanding
subordinate voting shares, 56.8% of the outstanding shares of TELUS
Digital and 86.9% of the outstanding voting rights of TELUS
Digital. The multiple voting shares of TELUS Digital may be
converted into subordinate voting shares on a one-for-one basis at
any time.
TELUS purchased the Purchased Shares for investment purposes and
may or may not purchase or sell multiple voting shares, subordinate
voting shares or other securities of TELUS Digital in the future on
the open market or in private transactions, depending on market
conditions and other factors. TELUS currently has no other plans or
intentions that relate to its investment in TELUS Digital.
Depending on market conditions, general economic and industry
conditions, TELUS Digital's business and financial condition and/or
other relevant factors, TELUS may at any time develop other plans
or intentions in the future relating to one or more of the above
items. A copy of the early warning report to be filed by TELUS in
connection with the acquisition will be available on TELUS
Digital's profile on SEDAR+ at sedarplus.ca. Alternatively,
you may contact TELUS Investor Relations at 1-800-667-4871 in order
to obtain a copy of the report.
The headquarters and principal executive offices of TELUS
Digital are located at Floor 5, 510 West Georgia Street,
Vancouver, British Columbia,
Canada V6B 0M3.
About TELUS
TELUS (TSX: T, NYSE: TU) is a dynamic, world-leading
communications technology company with more than $20 billion in annual revenue and over 19 million
customer connections spanning wireless, data, IP, voice,
television, entertainment, video, and security. Our social purpose
is to leverage our global-leading technology and compassion to
drive social change and enable remarkable human outcomes. Our
longstanding commitment to putting our customers first fuels every
aspect of our business, making us a distinct leader in customer
service excellence and loyalty. The numerous, sustained accolades
TELUS has earned over the years from independent, industry-leading
network insight firms showcase the strength and speed of TELUS'
global-leading networks, reinforcing our commitment to provide
Canadians with access to superior technology that connects us to
the people, resources and information that make our lives
better.
Operating in 32 countries around the world, TELUS Digital
Experience (TSX and NYSE: TIXT) is a leading digital customer
experience innovator that designs, builds, and delivers
next-generation solutions, including AI and content moderation, for
global and disruptive brands across strategic industry verticals,
including tech and games, communications and media, eCommerce and
fintech, banking, financial services and insurance, healthcare, and
others.
TELUS Health is a global healthcare leader, which provides
employee and family primary and preventive healthcare and wellbeing
solutions. Our TELUS team, along with our 100,000 health
professionals, are leveraging the combination of TELUS' strong
digital and data analytics capabilities with our unsurpassed client
service to dramatically improve remedial, preventive and mental
health outcomes covering over 75 million lives, and growing, around
the world. As the largest provider of digital solutions and digital
insights of its kind, TELUS Agriculture & Consumer Goods
enables efficient and sustainable production from seed to store,
helping improve the safety and quality of food and other goods in a
way that is traceable to end consumers.
Driven by our determination and vision to connect all citizens
for good, our deeply meaningful and enduring philosophy to give
where we live has inspired TELUS and our team to contribute
$1.7 billion, including 2.2 million
days of service since 2000. This unprecedented generosity and
unparalleled volunteerism have made TELUS the most giving company
in the world. Together, let's make the future friendly. For more
information about TELUS, please visit telus.com, follow us at
@TELUSNews on X and @Darren_Entwistle on Instagram.
Investor Relations
Robert
Mitchell
(647) 837-1606
ir@telus.com
Ian McMillan
604-317-8768
ir@telus.com
Media Relations
Steve
Beisswanger
(514) 865-2787
Steve.Beisswanger@telus.com
SOURCE TELUS Corporation