13:39:54 EDT Tue 23 Apr 2024
Enter Symbol
or Name
USA
CA



BCE Inc (2)
Symbol BCE
Shares Issued 868,912,878
Close 2016-06-22 C$ 59.72
Market Cap C$ 51,891,477,074
Recent Sedar Documents

Manitoba Telecom holders approve acquisition by BCE

2016-06-23 11:23 ET - News Release

See News Release (C-MBT) Manitoba Telecom Services Inc

Mr. Jay Forbes of Manitoba Telecom reports

MTS SHAREHOLDERS OVERWHELMINGLY APPROVE ACQUISITION BY BCE

A significant majority of Manitoba Telecom Services Inc.'s shareholders has approved the special resolution authorizing the statutory plan of arrangement under Section 185 of the Corporations Act (Manitoba), pursuant to which, among other things, BCE Inc. will acquire all of the issued and outstanding common shares of MTS.

The arrangement resolution was approved by 99.66 per cent of the 43,098,172 votes cast by shareholders present in person or represented by proxy at the special meeting of shareholders held earlier today.

"MTS shareholders have overwhelmingly supported the BCE transaction," said Jay Forbes, president and chief executive officer of MTS. "This strong support reflects the meaningful value that shareholders will receive as a result of this transaction, which also provides compelling benefits to MTS customers, employees and to the province of Manitoba. With these shareholder approvals in place, we will continue to work with BCE to secure the necessary regulatory approvals with a view to closing the transaction as expected."

The transaction is subject to the approval and issuance of a final order by the Manitoba Court of Queen's Bench, the receipt of regulatory approvals from the Canadian Radio-television and Telecommunications Commission under the Broadcasting Act (Canada), the Competition Bureau under the Competition Act (Canada) and from the Minister of Innovation, Science and Economic Development Canada under the Radiocommunication Act (Canada), and the satisfaction or waiver of other customary closing conditions.

Letter of transmittal and election form

MTS currently expects that following payment of the MTS 2016 second quarter dividend on July 15, 2016; it will send a letter of transmittal and election form explaining how shareholders can deposit and obtain payment for their MTS common shares once the arrangement is completed. The letter of transmittal and election form will also be available on MTS's website, as well as under its profile on SEDAR, or by contacting the depositary appointed in connection with the arrangement, Computershare Trust Company of Canada. Any questions regarding receipt of the cash or share consideration, including any request for another copy of the letter of transmittal and election form, should be directed to Computershare Trust Company of Canada via telephone at 1-877-982-8757 (toll-free in North America) or via e-mail at corporateactions@computershare.com.

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