TELUS Corporation announced that it has today purchased 480,300 common shares of Emergis Inc. through the facilities of the Toronto Stock Exchange, representing 0.5 per cent of the outstanding Common Shares as at December 10, 2007. As of the close of business of the
TSX today, TELUS owned directly or indirectly 480,300 Common Shares.
The highest price paid by TELUS for Common Shares purchased today was
C$8.18 per share and the average price paid per share was C$8.18. This is
TELUS' first purchase of Common Shares through the facilities of the TSX
since TELUS's indirect wholly-owned subsidiary 6886116 Canada Ltd. mailed
its offer (the "TELUS Offer") to purchase Emergis on December 11, 2007.
TELUS previously indicated in the TELUS offer that it might purchase
Common Shares through the facilities of the TSX, subject to compliance with
applicable laws, from time to time until the expiry of the TELUS offer. The
purchase of Common Shares in the market was undertaken with the sole aim of
assisting TELUS to achieve its stated objective of acquiring 100 per cent
of the Common Shares. The purchased Common Shares will be counted in the
determination as to whether 66 2/3 per cent of the Common Shares
outstanding on a fully-diluted basis shall have been validly deposited and
not withdrawn at the expiry time of the TELUS offer. The number of Common
Shares that TELUS may purchase through the facilities of the TSX may not
exceed 5 per cent of the outstanding Common Shares, based on the number of
Common Shares outstanding at the time of TELUS' offer for Emergis.
TELUS
TELUS (TSX: T, T.A; NYSE: TU) is a leading national telecommunications
company in Canada, with $9.0 billion of annual revenue and 11.0 million
customer connections including 5.4 million wireless subscribers, 4.4
million wireline network access lines and 1.2 million Internet subscribers.
TELUS provides a wide range of communications products and services
including data, Internet protocol (IP), voice, entertainment and video.
Committed to being Canada's premier corporate citizen, we give where we
live. Since 2000, TELUS and our team members have contributed more than $91
million to charitable and non-profit organizations and volunteered more
than 1.7 million hours of service to local communities. Eight TELUS
Community Boards across Canada lead our local philanthropic initiatives.
Source:
TELUS