Offer to purchase CLEARNET.pdf - About TELUS

TELUS CORPORATION
(FORMERLY BCT.TELUS COMMUNICATIONS INC.)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
December 31, 1999
14. SHAREHOLDERS’ EQUITY (Continued)
(c) Changes in Common Shares
1999 1998
Number of Number of
Shares Amount Shares Amount
(millions) (millions)
Common Voting Shares
Beginning of Year ......................... 177,433,909 $2,077.6 177,910,895 $2,082.1
Exercise of stock options .................... 111,963 2.6 265,433 5.9
Normal course issuer bid .................... — — (742,419) (10.4)
Other .................................. (23,982) (.2) — —
End of Year ...............................
Common Non-Voting Shares
177,521,890 $2,080.0 177,433,909 $2,077.6
Beginning of Year ......................... 59,144,636 $ 692.5 59,303,632 $ 694.0
Exercise of stock options .................... 37,309 .9 88,477 2.0
Normal course issuer bid .................... — — (247,473) (3.5)
Other .................................. (25,498) (.3) — —
End of Year ............................... 59,156,447 $ 693.1 59,144,636 $ 692.5
(d) Stock Option Plans
BCT.TELUS Stock Option Plan:
BCT.TELUS has a stock option plan under which directors, officers and key employees receive options to
purchase common voting shares at a price equal to the fair market value of the shares at the date of
granting. Options purchased by the Company are cancelled. Options granted in the plan may be exercised
over specific periods not to exceed 10 years from the date granted.
Options Options Average
Year Options Granted Granted Outstanding Exercise Price
1999 781,430 655,358 $ 35.72
BC TELECOM Stock Option Plan:
Under the terms of the BCTSOP introduced in 1995, BC TELECOM granted key employees options in
tandem share appreciation rights and retention options at fixed exercise prices. Effective December 8, 1998
the plan was modified to replace share appreciation rights with a stock option repurchase plan. Options
granted in the plan may be exercised over specific periods not to exceed 10 years from the date granted.
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