Filed by TELUS Corporation
Pursuant to Rule 425
under the Securities Act
Subject Company:
Clearnet Communications Inc.
TELUS logo Clearnet Communications Inc. logo
October 25, 2000
TELUS and Clearnet announce final proration number
Burnaby, British Columbia, and Scarborough, Ontario - TELUS Corporation (TSE: T,
T.A; NYSE: TU) and Clearnet Communications Inc. (TSE: NET.A; NASDAQ: CLNT)
announce that the final overall proration factor for the October 20 Take-up Date
applied to cash elections is 68.9557 per cent. This factor will be applied to
the cash portion of all cash, or cash and share combination elections, of
tendering Clearnet shareholders. For tendered Clearnet shares that are in good
order, cheques and TELUS Non-Voting share certificates will be mailed first
class this week.
TELUS Corporation is one of Canada's leading telecommunications companies
providing a full range of communications products and services that connect
Canadians to the world. The company reported $5.9 billion in revenues in 1999
and is the premier service provider in Western Canada. TELUS also provides
voice, data, Internet, advertising and wireless services to Central and Eastern
Canada. With the purchase of QuebecTel and national digital wireless company
Clearnet Communications Inc., TELUS is rapidly strengthening its position as a
leading national service provider. For more information about TELUS, visit
www.telus.com.
Clearnet Communications Inc. is a leading Canadian wireless communications
company that operates two state-of-the-art digital wireless networks, Clearnet
PCS and Mike. Clearnet serves more than 700,000 clients across Canada.
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For more information:
TELUS CLEARNET
Investor Relations: Investor Relations:
John Wheeler Robert Mitchell
(780) 493-7310 (416) 279-3219
[email protected] [email protected]
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Forward Looking Statements
Some statements in this document look forward in time and deal with other than
historical or current facts for TELUS and Clearnet. Such statements are
qualified in their entirety by the inherent risks and uncertainties surrounding
future expectations, including but not limited to the risks associated with: the
acquisition of Clearnet including the ability to integrate such acquisition;
general business conditions in Canada and the companies' service territories in
Canada; competition on wireless services (cellular), local and long distance
services, data and internet services and within the Canadian telecommunications
industry generally; adverse regulatory action; technological change; taxation;
availability of sufficient funding; and generation of operating cash flow
sufficient to provide financial viability. For additional information with
respect to certain of these and other factors, see the reports filed by TELUS
and Clearnet with Canadian provincial securities commissions and the United
States Securities and Exchange Commission.
TELUS and Clearnet disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.
Investors and security holders are advised to read the offer to
exchange/prospectus, the solicitation/recommendation statement on Schedule 14D-9
and other offer documentation regarding the transaction to be filed with
Canadian provincial securities commissions and the United States Securities and
Exchange Commission, as they will contain important information.
Security holders may obtain a free copy of the offer to exchange/prospectus
(when available) and other related documents filed by TELUS at the SEC's Web
site at www.sec.gov and the SEDAR Web site at www.sedar.com. When available, the
offer to exchange/prospectus and the other documents may also be obtained from
TELUS, Attention: TELUS Corporation Investor Relations, Floor 30-D, 10020-100
Street, Edmonton, AB T5J 0N5.
