Telus shareholders to vote on share exchange, new listing in October

Canadian quadruple-play telco Telus has announced a new proposal to reform its legacy shareholding structure by exchanging its non-voting shares into common shares on a one-for-one basis, which it will put to a vote of all shareholders on 17 October 2012. The proposal will require approval from two-thirds of its non-voting shareholder votes cast, plus approval by a simple majority of common share votes cast. Telus currently has approximately 175 million common shares and 151 million non-voting shares issued and outstanding, so the exchange would result in a single class of approximately 326 million common shares

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OVETEL Telus shareholders to vote on share exchange, new listing in October