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)
Options granted prior to 1999 can be exercised in a ratio of 75% voting and 25% non-voting for common
shares in BCT.TELUS.
Options Options Average
Year Options Granted Granted Outstanding Exercise Price
1999 3,700 3,700 $ 36.78
1998 339,600 322,934 46.72
1997 435,800 375,496 31.05
1996 427,200 250,401 25.26
1995 213,300 98,900 24.20
BC TELECOM Long-Term Incentive Share Option Plan:
BC TELECOM had stock option plans under which directors, officers and key employees received common
share purchase options at a price equal to the fair market value of the shares at the date of granting.
Options granted in the plan may be exercised over specific periods not to exceed 10 years from the date
granted. These options can be exercised in a ratio of 75% voting and 25% non-voting for common shares in
BCT.TELUS.
Options Options Average
Year Options Granted Granted Outstanding Exercise Price
1995 395,300 120,486 $ 24.25
1994 293,756 86,781 25.08
1993 444,300 74,700 19.25
1992 263,725 32,850 22.13
1991 270,600 33,000 20.00
TELUS Stock Option Plans:
TELUS had stock option plans under which directors, officers and key employees received common share
purchase options at a price equal to the fair market value of the shares at the date of granting. Options
granted under the plans may be exercised over specific periods not to exceed seven years from the date of
granting. These options can be exercised in a ratio of 75% voting and 25% non-voting for common shares in
BCT.TELUS.
Options Options Average
Year Options Granted Granted Outstanding Exercise Price
1998 540,930 398,937 $ 42.39
1997 670,330 366,276 25.97
1996 717,300 296,001 21.33
1995 379,600 75,157 21.14
1994 387,000 188,803 20.78
1993 406,527 21,505 16.57
At December 31, 1999, 7,769,846 shares remained reserved for issuance under all option plans.
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