Meeting of TELUS shareholders to proceed on October 17

B.C. Supreme Court agrees with TELUS and orders joint meeting to consider 
TELUS' share exchange proposal and Mason Capital's related resolutions 
Voter participation expected to be high 
VANCOUVER, Oct. 16, 2012 /CNW/ - At TELUS' suggestion, the Supreme Court of 
B.C. ordered a joint shareholder meeting on October 17 to consider TELUS' 
share exchange proposal and Mason Capital's related resolutions, giving 
shareholders the most convenient way to move forward with voting on 
resolutions from both TELUS and the New York hedge fund, whose net economic 
ownership position in TELUS is a mere 0.02 per cent. The B.C. Supreme Court's 
decision was provided orally by Master Muir with written reasons to follow. 
The court found it appropriate to have TELUS and Mason Capital's resolutions 
voted on at the October 17 meeting and to allow proxies received by TELUS from 
common shareholders voting in favour of the company's proposal to be voted by 
TELUS management in respect of the Mason Capital common share resolutions. As 
a result, a proxy granting authority to management to vote in favour of TELUS' 
proposal to exchange non-voting shares for common shares on a one-for-one 
basis can be voted against Mason Capital's resolutions to change TELUS' 
articles to enshrine a minimum ratio for any future exchange of TELUS 
non-voting shares for common shares. Similarly, a proxy granting authority to 
vote against TELUS' share exchange proposal can be voted in favour of the 
Mason Capital resolutions. 
"TELUS' shareholders are exceedingly well informed and have a comprehensive 
understanding of both our share exchange proposal and the perspective 
communicated by Mason Capital," said Darren Entwistle, TELUS President and 
CEO. "I am looking forward to our meeting on October 17 and bringing this 
matter to a conclusion in a manner that is clear, convenient and fair for our 
In a separate Supreme Court of B.C. ruling the morning of Monday, October 15, 
the court rejected Mason Capital's attempt to halt or vary the October 17 
meeting called by TELUS. In its decision, the court found the voting 
thresholds pursuant to TELUS' proposal for a one-for-one exchange are lawful 
and valid, with support from a simple majority of the common share class and 
66.67 per cent of the non-voting share class required for TELUS' proposal to 
succeed. If the one-for-one exchange proposal passes, pursuant to the Plan of 
Arrangement, TELUS would apply to B.C. Supreme Court for a final order 
approving the transaction. In the ruling, the court determined that the 
hearing for the final order to approve the transaction will take place the 
week of November 5, 2012. 
Proposal voting turnout strong 
In an affidavit filed Monday, October 15 with the Supreme Court of B.C., it 
was disclosed that shareholder participation is high for the October 17 
shareholder vote. As of Sunday, proxies totaling more than 238 million or 73 
per cent of the combined share base have been received, if Mason's 32.8 
million common shares are included. Proxies representing more than 81 per cent 
of non-voting shares outstanding and more than 47 per cent of common shares 
outstanding have been received (excluding Mason Capital's dissident proxy). 
While as of Sunday, October 14, Mason had not yet delivered its proxies, 
assuming it votes all of its 32.8 million common shares, this would push the 
common share participation total to over 66 per cent. The final tabulation of 
proxies is planned to be announced at the October 17 shareholder meeting. 
Forward looking statement:
This news release contains statements about expected future events of TELUS 
that are forward-looking. By their nature, forward-looking statements require 
the Company to make assumptions and predictions and are subject to inherent 
risks and uncertainties. There can be no assurance that the share exchange 
proposal will receive voting approval and, if not approved, the market price 
of non-voting shares and/or common shares may decline given that share prices 
in both classes increased on the announcement of the February proposal. In 
addition, there can be no assurance that these court decisions will not be 
challenged, that the final court order in respect of the Arrangement will be 
granted, and that the associated benefits for TELUS shareholders will be 
realized. There is significant risk that the forward-looking statements will 
not prove to be accurate. Readers are cautioned not to place undue reliance on 
forward-looking statements as a number of factors could cause actual future 
events to differ materially from that expressed in the forward-looking 
statements. Except as required by law, TELUS disclaims any intention or 
obligation to update or revise forward-looking statements. 
TELUS (TSX: T, T.A; NYSE: TU) is a leading national telecommunications company 
in Canada, with $10.6 billion of annual revenue and 12.8million customer 
connections including 7.4million wireless subscribers, 3.5million wireline 
network access lines, 1.3million Internet subscribers and 595,000 TELUS TV 
customers. Led since 2000 by President and CEO, Darren Entwistle, TELUS 
provides a wide range of communications products and services including 
wireless, data, Internet protocol (IP), voice, television, entertainment and 
In support of our philosophy to give where we live, TELUS, our team members 
and retirees have contributed more than $260million to charitable and 
not-for-profit organizations and volunteered 4.2million hours of service to 
local communities since 2000. Fourteen TELUS Community Boards lead TELUS' 
local philanthropic initiatives. TELUS was honoured to be named the most 
outstanding philanthropic corporation globally for 2010 by the Association of 
Fundraising Professionals, becoming the first Canadian company to receive this 
prestigious international recognition. 
For more information about TELUS, please visit 
For media inquiries, please contact: 
Shawn Hall TELUS Social and Media Relations 604-697-8176 
For investor inquiries, please contact: Darrell Rae TELUS Investor Relations 
SOURCE: TELUS Corporation 
To view this news release in HTML formatting, please use the following URL: 
CO: TELUS Corporation
ST: British Columbia
-0- Oct/16/2012 11:00 GMT
Press spacebar to pause and continue. Press esc to stop.