Telus 2009 Annual Report Download - page 16

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Series B Right) in respect of each Non-Voting Share outstanding as of such date. The
Rights Plan has a term of just over nine years, subject to shareholder confirmation every
three years. Each Series A Right or Series B Right, other than those held by an
Acquiring Person (as defined in the Rights Plan) and certain of its related parties, entitles
the holder in certain circumstances following the acquisition by an Acquiring Person of
20 per cent or more of the Common Shares of TELUS (otherwise than through the
“Permitted Bid” requirements of the Rights Plan) to purchase from TELUS $320 worth of
Common or Non-Voting Shares for $160 (i.e. at a 50 per cent discount) respectively.
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