On October 17, TELUS shareholders voted decisively in favour of TELUS' share exchange proposal, with more than 81 per cent of total shares voted in favour despite Mason Capital's opposition. At the meeting, 62.9 per cent of common shares voted were in favour of the share exchange, as well as 99.5 per cent of non-voting shares voted. Excluding Mason's voting block, 84.4 per cent of common shares voted were in favour of the proposal. The B.C. Supreme Court held a hearing from November 7 to 9 to consider the final approval of the share exchange and Mason appeals.In accordance with the terms of the Court's decision, TELUS must wait at least five business days before it proceeds with the share exchange. If Mason does not file an appeal and obtain a further stay during that period, TELUS will proceed to complete the share exchange process, including setting an effective time for the share exchange. It will then likely take an additional two weeks to complete the listing and delisting of shares on the stock exchanges. TELUS common shares will be listed on the New York Stock Exchange for the first time and the non-voting shares will be delisted from the Toronto Stock Exchange and the New York Stock Exchange.
BC Supreme Court Approves TELUS Share Exchange
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