CPP's total assets increased by almost $40B in past year
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From: "MinFinance / FinanceMin (FIN)"
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Date:
Thu, 17 May 2018 16:08:50 +0000
Subject: RE: RE My Blog and Tweet about the
CBC news report today
"CPP's total assets increased by almost $40B in past
year"
To: David Amos <motomaniac333@gmail.com>
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From:
Contact <contact@cppib.com>
Date:
Thu, 17 May 2018 16:08:56 +0000
Subject: Automatic reply: RE My Blog and
Tweet about the CBC news
report today "CPP's total assets increased by almost
$40B in past year"
To: David Amos <motomaniac333@gmail.com>
This
is to confirm receipt of your email to the CPP Investment Board
(CPPIB).
Thank you for your inquiry. If it relates to CPPIB and we are
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From: Contact <contact@cppib.com>
Date:
Fri, 15 Jul 2016 15:17:30 -0400
Subject: Auto Reply: CPP Investment
Board
To: David Amos <motomaniac333@gmail.com>
This
is to confirm receipt of your email to the CPP Investment Board
(CPPIB).
Thank you for your inquiry. If it relates to CPPIB and we are
able to provide
a response we will do so within approximately one
week.
Methinks
somebody should ask Mark Machin CEO of the Canada Pension Plan
Investment Board why Harper's minions refused to give me any of my CPP
benefits until the writ was dropped for the election of the 42nd
Parliament N'esy Pas?
CPP's total assets increased by almost $40B in past year
Pension plan has averaged a 10% return for the past 5 years, and a 6% return for the last decade
CBC News ·
720 Comments
Commenting is now closed for this story.
Ashley Zacharias
Don't believe "conservatives" when they tell you that our pension funds are going broke and we have to cut benefits.
David Amos
@Ashley Zacharias Methinks
somebody should ask Mark Machin the CEO of the Canada Pension Plan
Investment Board why Harper's minions refused to give me any of my CPP
benefits until the writ was dropped for the election of the 42nd
Parliament N'esy Pas?
Jan Lenova
@Joan MacDonald
did anyone actually understand the OP's post?
the gov'ts, con or lib, have made huge profits by re-investing OUR
Pensions, they just haven't told us about it yet, maybe they want to
protect us from the pitfalls of greed.?
David Amos
@Jan Lenova Methinks somebody
such as Bill Morneau should ask Mark Machin the CEO of the Canada
Pension Plan Investment Board why I called him and so many of his
minions today N'esy Pas?
Gordon Raymond
@Ashley Zacharias - Keep
perspective we are at or near a market peak. The next recession is
likely not too far around the corner, which can wipe out a lot of value
very fast.
David Amos
@Gordon Raymond "The next recession is likely not too far around the corner"
Methinks that may be the understatement of the year N'esy Pas Mr Minister Morneau and Mr Prime Minister Trudeau The Younger?
Andrew Farmer
I'd like to say the almost
complete lack of knowledge of CPP, OAS and GIS frequently displayed here
is surprising but I can't. Canadians really do not understand
finances.
David Amos
@Andrew Farmer "Canadians really do not understand finances."
Methinks its rather obvious byway of your insult of my fellow citizens
that you have no clue as to who I am. N'esy Pas Mr Minister Morneau?
Jamie Robins
Great news! Keep up the good work!!
David Amos
@Jamie Robins ROTHFLMAO
Ray Pointer
It just goes to show that's it's a good plan that is being well managed.
And anyone who wants to opt out and go it alone is crazy.
Would you be disciplined to put that money away every month, every year and never miss ?
The CPP along with OAS is there to provide Canadians with a guaranteed basic minimum retirement income.
You still need to fund a company/private pension or RSP plan in addition
to this for a comfortable retirement income. And don't wait until
you're in your fifties. Start it in your twenties
David Amos
@Ray Pointer "CPP like OAS should be just one facet of your retirement plan."
Methinks I should inform you that like many Canadians my CPP and OAS are my ONLY source of income.
Its pretty sad that I had to threaten to sue the Trudeau government in
order to get my entitlements while it allows thousands of foreign
nationals to illegally cross the border into Quebec and then sets them
up in fine fashion N'esy Pas?
Jim S Powers
to all you against CPP and think they can do better on their own
Show me 1 pension plan that keeps paying you monthly after you has spent all the money and the balance is zero?
David Amos
@Aaron Spencer Lane Methinks we all should be a lucky as you No doubt you wear a blue coat N'esy Pas?
David Amos
@Tony Hill "If you were to
take every dime you and your employers paid into CPP on your behalf and
instead invest that in a VERY simple balanced portfolio you would have a
LOT of money when you retired."
Good point sir. FYI years ago I was one of the aforementioned
"employers" Methinks in light of the fact that they only give 266 bucks a
month from my CPP investments I would be much further ahead today if
there was no CPP in the first place.
However I must say Hurray for the Old Age Pension and the Income Supplement which are sourced from our taxes N'esy Pas?
Richard Sharp
That is excellent news. And
there is FPT agreement on at least starting to address the needs of the
elderly today and so many working Canadians with no pensions and little
in savings.
Throw in the highest economic growth in the G7 and the lowest
unemployment in decades and one might conclude this government is on
track. Not the Cons, of course.
Richard Sharp
@James fisher
Just swam 2k at the Trenton Y. Time for golf soon. Maybe I‘ll jog home afterwards.
You?
David Amos
@Richard Sharp Methinks you brag too much However all liberals do N'esy Pas?
Neil Austen
And Conservatives like corporate lapdog Harper will still want you to work 2 more years before you get old age security.
David Amos
@Neil Austen Methinks the
liberals. the conservatives and all the other parties are just
pickpockets camped on the opposite sides of the same road we all must
travel down. Harper wanted us to stay on that road for two more years
while Trudeau wants more money right now byway f Carbon Tax etc. It
should be a small wonder why I always run for public office as an
Independent and ask for no money in support and make no expense claims
for doing so N'esy Pas?
Jamie Robins
CPP is a forced savings plan for retirement and some may not appreciate it until it is time to collect.
Then it is survival at it's best!!
David Amos
@Jamie Robins "Then it is survival at it's best!!"
Perhaps for some
Elaine Hancock
Yes the arms-length pension
board has done a good job. Let’s hope it stays arms-length so that the
fund is viable for future retirees.
Ron Vollans
@Elaine Hancock
The only change in the operation of the fund I can remember was when
Chretien allowed the fund managers to invest outside of Canada. Up
until that time there was concern that the fund was underfunded.
David Amos
@Ron Vollans Methinks we are
on the same wavelength when it comes to recalling Chretien's spin on
playing with our money for the benefit of his banker buddies N'esy Pas?
James fisher
One week we have no money,
running massive deficits and liberals claim its all good, now they claim
loads of money in our CPP.......but we have no money for Canadians.....
I suspect liberal sticky fingers are coming to a cpp near us........
John Oaktree
@James fisher
In other words, you don't understand how your government works...
David Amos
@John Oaktree Do You?
Ted Dantoncal
Well done CPP money managers! Keep it up.
I'm sure that some will complain, because this is the internet after
all, but that's a great success. Ignore the armchair quarterbacks. :)
David Amos
@Ted Dantoncal Methinks that
you are forgetting that this overpaid board is playing with the armchair
quarterbacks' money N'esy Pas?
Damien Johnston
And harper wanted to raise the age to 67.
Henri Bianchi
@Damien Johnston
Why do people who do not know the difference between OAS and CPP persist in demonstrating that they do not know the difference?
The OAS is funded from general revenues. Unlike the CPP there is
nothing to support future payments beyond the power of the government to
tax.
David Amos
@Henri Bianchi True
Robert Uncle
Sooner or later some
government will find a way to rob the fund. May be the Liberals, may be
the Conservatives,, but you can bet on it one of them will do it.
Charles A. Brown
@Robert Uncle
They can't touch CPP. And everyone remembers Trudy's mentor, Paul Martin
robbing E.I. of $50 + Billion, so they can't go there again...if
anything, the LPCs will go for our RRSPs...they started down that track
when they messed with TSFA limits.
David Amos
@Charles A. Brown Methinks
Martin messed with CPP too for the benefit of his banker buddies. Hence
the creation of this board N'esy Pas?
Dale Verigan
Love it or hate it, the CPP is part of Canadian life, and when the time comes, most of us are happy to have it.
David Amos
@Dale Verigan True
Ted Wach
Well that is good news. Let
us all hope that this Liberal gov't doesn't decide that this "return on
the investment" should be thrown into general revenue and claim to have a
balance budget?
Many might think that this is not possible, but a previous Liberal gov't
(Chretien & Martin) did that with the EI fund in order to claim a
faux balanced budget.... Most Liberals don't remember this (or choose
not to remember this) as the Liberal revisionist history lessons don't
include this.
Michael Murphy
@Jack O Hill "The unions sued
the Harper government after it decided in 2010 to close the old
employment insurance account and transfer the $57 billion balance into
the government's general revenues."
Who was PM in 2010 again? I don't think it was martin
Seems you need to read the article
Jack O Hill
@Michael Murphy
It was a paperwork transaction.
Paul Martin transferred the actual funds, but left the "loan" on the
books as an asset. Harper cancelled the debt, because he understood it
was never going to be repaid.
Basic history.
David Amos
@Jack O Hill Methinks that
much to Mr Murphy's chagrin the moral of the story is that neither
political party is to be trusted with our money N'esy Pas?
CPP's total assets increased by almost $40B in past year
Pension plan has averaged a 10% return for the past 5 years, and a 6% return for the last decade
CBC News ·
Mark
Machin is CEO of the Canada Pension Plan Investment Board, which
manages CPP funds not currently needed to pay out benefits. The fund
reported Thursday it returned more than 11 per cent on its investments
in the past year. (Adrian Wyld/Canadian Press)
The people who invest the Canada Pension Plan's money earned a
return of 11.6 per cent in the past year once all the costs were paid,
enough to boost the fund's total assets by almost $40 billion.
The
Canada Pension Plan Investment Board invests the money not needed to
pay out current benefits for 20 million Canadian workers and
beneficiaries.
In its annual report Thursday, the fund reported that the fund returned a profit of 11.6 per cent this year, net of costs.
As
of the end of March, the CPP had $356.1 billion worth of investments
around the globe. That figure has risen by $39.4 billion from $316.7
billion a year earlier. Within that, $2.7 billion came from employees
with contributions deducted from their paycheques. But the rest — some
$36.7 billion — came from profits derived from the value of the
investments they've purchased over the years.
But 2017 was an easy
year for fund managers to make money, as just about every major global
asset class gained ground. The Dow Jones Industrial Average gained 25
per cent last year, while the broader S&P 500 was up by 19 per cent
and the technology-focused Nasdaq was up by 28 per cent.
The Toronto Stock Exchange's main index, meanwhile, gained just six per cent.
The CPP invests in a variety of asset classes around the world so that all of its eggs are not in one basket.
"Soaring
public equity markets through the first nine months of the fiscal year
were the primary source of growth," CEO Mark Machin said. "As volatility
returned during the fourth quarter, our private holdings proved
resilient, adding significant value."
The CPP benchmarks itself
against something it calls the Reference Portfolio, which is a mix of 85
per cent foreign stocks, and 15 per cent Canadian government bonds.
"When
public markets soar, as they generally did for most of our fiscal year,
we expect our Reference Portfolio to perform exceptionally well, even
better than our Investment Portfolio, by design," the fund said in its
annual report. "Our diversification strategy means that we expect swings
in relative performance, either positive or negative, in any single
year."
The CPP's return of 11.6 per cent, for the past year at least, beat what the Reference Portfolio did, which was 9.8 per cent.
The
CPP takes a long investment horizon because it is responsible for
paying out Canadian pensioners for decades into the future. In 2015, the
Chief Actuary of Canada declared that the CPP was on track to meet its
financial obligations for at least the next 75 years, at its current
rate of contributions.
At
the time, the actuary was assuming the fund could pull off an average
rate of return of 3.9 per cent per year, over that long timeframe.
Over
the last five years, the CPP has managed to return an average of 10.4
per cent per year, inflation adjusted. Over the past decade, it has
returned an average of 6.2 per cent per year.
On the cost side,
CPPIB reported that its costs increased somewhat this year. The fund
booked costs of $3.192 billion this year. That's more than the $2.834
billion it spent in 2016 in operating expenses and other investment
management fees.
Corrections
A
previous version of this story said incorrectly that the CPP's
management costs declined in the most recent fiscal year. In fact, they
increased to $3.192 billion from $2.834 billion.
CPP Investment Board Announces David Denison as New President and CEO
December 15, 2004
The Board of Directors of the CPP Investment Board today appointed
David Denison as the organization's next President and CEO. Mr. Denison
will join the CPP Investment Board on January 17, 2005, succeeding John
A. MacNaughton. Mr. MacNaughton, who has led the CPP Investment Board
since 1999, announced his plans to retire earlier this year.
Mr. Denison is currently President of Fidelity Investments Canada
Limited, one of the largest investment firms in Canada with $33 billion
in assets under management. Previously, he served as President of one of
Fidelity's business units in the United States. Fidelity is one of the
world's largest financial services companies with custodied assets of
US$1.9 trillion, including managed assets of US$1 trillion.
Mr. Denison has extensive experience in financial services in Canada
and internationally. He began his business career in 1981 as a chartered
accountant with Price Waterhouse, was a senior executive in Merrill
Lynch's Canada, Europe and Middle East operations from 1984-1988, and
served as Chief Financial Officer at S.G. Warburg Canada, Midland Walwyn
and Mercer Consulting, and Chief Operating Officer of Bunting Warburg
immediately before joining Fidelity Canada in 1995. (Please see attached
biographical sketch for additional information.) The Board selected
Mr. Denison from a list of outstanding candidates following a rigorous
six-month search process managed by a selection committee of the Board,
with the assistance of a leading global executive search firm. Gail
Cook-Bennett, Chair of the CPP Investment Board, said, "David Denison is
a seasoned executive with two decades of experience within global
financial services organizations, and an impressive record of
accomplishment. His integrity, broad management experience and success
in strategy execution are precisely the qualities that the board sought
in a new CEO. The Board of Directors is delighted to have attracted
David Denison to this important role." "I have great respect for what
the CPP Investment Board has achieved over the past five years and I am
very excited about the opportunity to build on those achievements in the
future," said Mr. Denison. "My immediate focus will be to gain a more
thorough understanding of the issues, challenges and opportunities
facing this organization. I am honoured to be leading the team that
invests the CPP reserve fund on behalf of 16 million Canadians." Ms.
Cook-Bennett added, "On behalf of the Board of Directors, I want to
recognize John MacNaughton, the CPP Investment Board's first President
and CEO, for his significant contribution in building and leading the
organization through its formative stages. We wish John the very best in
his retirement activities." Mr. Denison is a member of the Board of
Governors of York University and the York School, a director and
treasurer of the Toronto Rehabilitation Institute, and a member of the
Campaign Cabinet for the United Way of Greater Toronto. Born in Gander,
Newfoundland, Mr. Denison worked for six years as a secondary school
mathematics teacher in Toronto before earning his Chartered Accountant
designation and beginning his business career. He is a graduate of the
University of Toronto with Bachelor's degrees in Mathematics and
Education. The chief executive appointment process, designed by the
reformers of the CPP in 1997, is an important part of the distinct
governance model of the CPP Investment Board. The federal and provincial
finance ministers, in their role as stewards of the Plan, produced a
carefully crafted governance framework that balances accountability with
an ability to operate at arms-length from government. The resulting
governance model, enshrined in legislation, mandates that an independent
board of directors appoints the CEO following a rigorous selection
process.
The CPP Investment Board is a Crown corporation created by an Act of
Parliament in December 1997. It invests in capital markets the funds not
needed by the Canada Pension Plan to pay current pensions. Cash flows
are currently invested in equities and real estate to balance the cash
and bonds owned by the Canada Pension Plan. By increasing the long-term
value of funds, the CPP Investment Board will help the Canada Pension
Plan to keep its pension promise to Canadians. Based in Toronto, the CPP
Investment Board is governed and managed independently of the Canada
Pension Plan and at arm'slength from governments. Its fiscal year is
from April 1 to March 31. For more information about the CPP Investment
Board, visit www.cppib.ca. A
teleconference has been scheduled for today at 1:30 p.m. ET to discuss
this announcement. Journalists who wish to participate should contact
Jennifer Ross at 416-868-4682 or jross@cppib.ca.
Backgrounder David Denison, CA David Denison assumes his
position as President and CEO of CPP Investment Board on January 17,
2005, Mr. Denison is currently the President of Fidelity Investments
Canada Limited, one of the largest investment firms in Canada with $33
billion in assets under management and 750 employees. Mr. Denison
assumed this role in March 2003 and was responsible for Fidelity's
mutual fund, defined contribution and defined benefits businesses in
Canada. Before returning to Canada, Mr. Denison served as President of
the Fidelity Investments Institutional Brokerage Group in Boston from
2000 to 2003, and managed the operation of three business units -
Fidelity Capital Markets, National Financial and Fidelity Registered
Investment Advisor Group which in the aggregate had revenues of
approximately $1 billion. From 1995 to 2000, Mr. Denison served as
Chief Operations Officer and then President of Fidelity Investments
Canada. During this period, the company's assets grew from $6 billion to
$33 billion, and it ranked as one of the top 35 companies to work for
by Report on Business Magazine in 1999 and 2000. Fidelity Canada
led the mutual fund industry in net sales and market share growth from
1998 to 2000. Mr. Denison was a senior executive in Merrill Lynch's
Canada, Europe and Middle East operations from 1984-1988, and served as
Chief Financial Officer at S.G. Warburg Canada, Midland Walwyn and
Mercer Consulting, and Chief Operating Officer of Bunting Warburg. He
began his business career in 1981 as a chartered accountant with Price
Waterhouse. Mr. Denison was born in Gander, Newfoundland and raised in
Montreal. He worked for six years as a secondary school mathematics
teacher in Toronto before earning his Chartered Accountant designation
and beginning his business career. He is a graduate of the University of
Toronto with Bachelor's degrees in mathematics and education. Mr.
Denison is a member of the Board of Governors of York University and the
York School, a director and treasurer of the Toronto Rehabilitation
Institute, and a member of the Campaign Cabinet for the United Way of
Greater Toronto.
The Canada Pension Plan Investment Board has reorganized its
management structure so fewer people report directly to Mark Wiseman,
the chief executive.
An internal memo obtained by the Financial Post
also details the planned departure of John Butler, senior managing
director and general counsel, who will leave Canada’s largest pension
investment manager by the end of the year.
In the memo discussing a
three-part organizational change, Mr. Wiseman says CPPIB’s board
approved an “evolution” of the organization’s investment framework and
compensation last month that is intended “to better align incentives
with an increased focus on total return.
It will involve changes
to processes involving portfolio management, risk, performance, and
governance, which will demand “tight coordination” and will be overseen
by a newly formed committee, Mr. Wiseman said.
The
CEO’s direct reports will be reduced to seven from 10, with the head of
the legal department now reporting to chief financial officer Benita
Warmbold, and the chief talent officer and the senior managing director
of public affairs and communications reporting to chief operations
officer Nicholas Zelenczuk.
The
move to simplify the reporting structure was driven by the growing
“breadth and complexity of each function” within the CPPIB, according to
Tuesday’s memo.
“Put simply, having all our core services, in
addition to all our investment departments, international, and total
portfolio management report into one individual (the CEO) – is not the
optimal design in terms of management efficiency,” Mr. Wiseman wrote.
“I
plan to establish a regular recurring meeting with our core services
leaders to continue my direct involvement as CEO in these critical
functions,” he said.
In the memo, Mr. Wiseman said Mr. Butler
approached him earlier this year to speak about “the next stage of his
career.” It then became clear “that his plans to depart could mesh well
with the timing of the [other] organizational changes” under way.
CPPIB
will conduct a search for a successor to Mr. Butler, who joined in
2003. In the meantime, Matt Cockburn from Torys will be retained as
acting interim general counsel, Mr. Wiseman said.
The CPPIB is a
professional investment organization that invests assets of the Canada
Pension Plan not needed to pay current benefits.
---------- Original message ----------
From: "Butler, John"
<JButler@cppib.com>
Date:
Wed, 19 Aug 2015 01:57:59 -0400
Subject: Out of Office: The Canadian
Institute of Chartered
Accountants and their many associates must remember me
now Correct Ms.
Minister of National Revenue Kerry-Lynne D. Findlay, P.C.,
Q.C., M.P?
To: David Amos <motomaniac333@gmail.com>
Effective
December 5, 2014 John Butler is no longer with Canada
Pension Plan Investment
Board.
If your message pertains to the business of CPPIB, you should
resend
your message to Andrea Jeffery, Senior Manager, Legal
(ajeffery@cppib.com) or
Mary McDaid, Law Clerk & Assistant Corporate
Secretary (mmcdaid@cppib.com).
If
your message is for John personally, or you want John to consider
whether he
wishes to continue to receive messages from you, please
resend to or
otherwise contact him at john.butler182@gmail.com.
Canada Pension Plan Investment Board Announces Senior Executive Appointment
Toronto, Ontario ( April 28, 2015): Canada
Pension Plan Investment Board (CPPIB) is pleased to announce the
appointment of Patrice Walch-Watson as CPPIB's Senior Managing Director
& General Counsel and Corporate Secretary, and a member of the
Senior Management Team, effective June 5, 2015.
Ms. Walch-Watson brings a wealth of experience and leadership to
CPPIB, having spent more than 22 years at Torys LLP, one of Canada's top
international business law firms, where she was most recently a
Partner. Her knowledge and experience will be invaluable as CPPIB
expands into new markets and sectors. Under her leadership, the legal
department will continue to be critical to our investment activities and
other operations, while effectively managing legal matters.
Ms. Walch-Watson's addition to CPPIB's management team continues to
demonstrate the organization's ability to attract top talent to the
organization. Her broad experience includes leading roles in advising
some of Canada's largest public, private and government businesses on a
wide array of transactions, particularly in cross-border matters. She
has focused her corporate and securities practice primarily in the areas
of mergers and acquisitions, public and private corporate finance,
privatizations and corporate governance.
Ms. Walch-Watson holds a Bachelor of Arts (Honours) from Wilfrid
Laurier University and a Bachelor of Laws from Queen's University.
Ms. Walch-Watson will report into Benita Warmbold, Chief Financial Officer.
Canada Pension Plan Investment Board
Canada Pension Plan Investment Board (CPPIB) is a professional
investment management organization that invests the funds not needed by
the Canada Pension Plan (CPP) to pay current benefits on behalf of 18
million contributors and beneficiaries. In order to build a diversified
portfolio of CPP assets, CPPIB invests in public equities, private
equities, real estate, infrastructure and fixed income instruments.
Headquartered in Toronto, with offices in Hong Kong, London, New York
City and São Paulo, CPPIB is governed and managed independently of the
Canada Pension Plan and at arm's length from governments. At December
31, 2014, the CPP Fund totalled C$238.8 billion.
For more information
about CPPIB, please visit www.cppib.com.
FOR MORE INFORMATION CONTACT:
Canada Pension Plan Investment Board
Mei Mavin
Director, Corporate Communications
+44 20 3205 3515 mmavin@cppib.com
Torys LLP partner Patrice Walch-Watson is leaving to become senior
managing director, general counsel and corporate secretary at the Canada
Pension Plan Investment Board.
Walch-Watson, who starts her new
job June 5, will also be a member of CPPIB’s senior management team. She
spent more than 22 years at Torys where her broad experience included
leading roles in advising some of Canada’s largest public, private and
government businesses on a wide array of transactions, particularly in
cross-border matters.
The CPPIB is a professional investment
organization that invests assets of the Canada Pension Plan not needed
to pay current benefits.
“Her knowledge and experience will be
invaluable as CPPIB expands into new markets and sectors,” Canada’s
largest pension manager said in a statement.
“Under her leadership, the legal department will continue to be
critical to our investment activities and other operations, while
effectively managing legal matters.”
Walch-Watson’s primary areas
of corporate and securities practice involved mergers and acquisitions,
public and private corporate finance, privatizations and corporate
governance. For example, she advised Viterra Inc. during its $6.1-billion purchase of Viterra Inc. in 2012.
At CPPIB, she will report into Benita Warmbold, the pension management organization’s chief financial officer.
Quebec BCE executive Martine Turcotte joins CIBC board of directors
The Canadian Press
TORONTO, Cananda – BCE executive Martine Turcotte has been appointed to the CIBC board of directors, the bank announced Tuesday.
The addition of Turcotte increases the board at CIBC (TSX:CM) to 17 members including five women.
Turcotte is vice-chairwoman for Quebec at BCE Inc. (TSX:BCE) and Bell Canada.
She is also a director of Empire Company Ltd. (TSX:EMP.A), Sobeys Inc., Bell Aliant Inc. (TSX:BA) and Bimcor Inc.
CIBC is one of Canada’s largest banks with 11 million personal banking and business customers.
Ms. Martine Turcotte, CIBC, Board of Directors (CNW Group/CIBC)
TORONTO, Dec. 17, 2013 /CNW/ - Charles Sirois, Chair of the Board, CIBC (TSX: CM) (NYSE: CM) is pleased to announce the appointment of Martine
Turcotte to the CIBC Board of Directors.
Ms. Turcotte is Vice Chair, Quebec of BCE Inc. and Bell Canada,
responsible for driving the company's business, government and
community investment initiatives across Quebec. Ms. Turcotte is an
accomplished leader with more than 25 years of strategic, legal and
regulatory career achievements at Bell.
Ms. Turcotte is also a director of Empire Company Ltd., Sobeys Inc.,
Bell Aliant Inc. and Bimcor Inc. She is actively involved in the
not-for-profit sector through her work with the Chambre de Commerce du
Montréal Métropolitain, the Jewish General Hospital, McGill University
and Théâtre Espace Go Inc.
Ms. Turcotte graduated from McGill University with a Bachelor degree in
Civil Law and Common Law and holds a Master in Business Administration
from the London Business School.
CIBC is a leading North American financial institution with
approximately 11 million personal banking and business clients. CIBC
offers a full range of products and services through its comprehensive
electronic and mobile banking network, branches and offices across
Canada, in the United States and around the world.
Jason Patchett, Investor Relations, 416-980-8691, Anu Shrivats,
Investor Relations, 416-980-2556, Alice Dunning, Investor Relations,
416-861-8870, or Caroline Van Hasselt, External Communications and
Media Relations, 416-784-6699
----------
Forwarded message ----------
From: "Crandall, Troy (MTL)" <tcrandall@3macs.com>
Date:
Thu, 9 Oct 2014 17:49:18 +0000
Subject: Automatic reply: RE BCE and Bell
Alliant Trust that Mr
Crandall Of 3 Macs does not know everything EH Maritne
Turcotte?
To: David Amos <motomaniac333@gmail.com>
Greetings.
I
am currently out of the office and will return on Tuesday, October
14.
Regards,
Troy Crandall
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----------
Forwarded message ----------
From: OIG <OIG@ftc.gov>
Date: Thu,
9 Oct 2014 13:49:19 -0400
Subject: Out of Office: RE BCE and Bell Alliant
Trust that Mr Crandall
Of 3 Macs does not know everything EH Maritne
Turcotte?
To: David Amos <motomaniac333@gmail.com>
AUTO
REPLY: OIG HOTLINE **DO NOT REPLY**
The Federal Trade Commission (FTC)
Office of Inspector General (OIG)
Hotline received your submission. The FTC
OIG has jurisdiction over
all complaints involving: 1) the economy,
efficiency and effectiveness
of, or 2) fraud, waste and abuse in FTC programs
and operations. If
your submission falls outside these areas, the OIG will
refer it to
the appropriate office, if applicable.
Your information
will be carefully reviewed by our staff within 5
business days to determine
the appropriate course of action. We will
contact you again only if the OIG
has jurisdiction over the issue and
open a case or need additional
information.
Many submissions fall within the jurisdiction of the FTC
rather than
the OIG. The following information on how to file a complaint
with the
FTC is provided for your convenience:
TO FILE A COMPLAINT
WITH THE FTC – The FTC Complaint Assistant website
provides information on
how to submit and file web-based complaints
and inquiries into the FTC
Consumer Sentinel Network
(https://www.ftccomplaintassistant.gov/#&panel1-1<https://www.ftccomplaintassistant.gov/>).
You can
also submit complaints, ask questions, and request assistance
via the FTC
Complaint Assistant telephone number: 1-877-382-4357.
The FTC Complaint
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information regarding:
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Thank you for contacting the FTC OIG
Hotline.
---------- Forwarded message ----------
From: computershareus_hosted@computershare.com
Date:
Thu, 9 Oct 2014 13:49:19 -0400
Subject: 'E-mail inquiry confirmation/Accusé
de réception d'une
demande de renseignements par courrier électronique
To:
motomaniac333@gmail.com
Thank
you. We have received your e-mail to %RCPTS%. We will endeavour
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soon as possible.
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University
Avenue, Toronto (Ontario) M5J 2Y1.
On 10/9/14,
David Amos <motomaniac333@gmail.com>
wrote:
> http://www.cbc.ca/news/canada/nova-scotia/bell-aliant-bce-to-privatize-atlantic-canada-telecom-affiliate-1.2715220
>
>
http://www.3macs.com/martin.leclerc/
>
>
Martin Leclerc
> Branch Manager
>
> Place du Canada, Suite
2000
> 1010 de la Gauchetière Street West
> Montréal, Quebec H3B
4J1
>
> 514-394-3051
> mleclerc@3macs.com
>
>
>
http://www.marketwatch.com/story/bce-announces-successful-completion-of-bell-aliant-common-share-tender-offer-transaction-on-track-to-close-on-or-about-october-31-2014-10-03?page=2
>
>
Canada’s Corporate registered number. 0000230098 CANADA DC SIC: 8880
>
American Depositary Receipt. Business Address Canadian Embassy 1746
>
Massachusetts Ave., NW, Washington, DC
>
>
> http://www.sec.gov/Archives/edgar/data/1283718/000119312514250699/d747934dsc13d.htm
>
>
http://yahoo.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHTML1?ID=7405274&SessionID=gX-eHFiwbTiOb47
>
>
Butler, John Howard
> Canada Pension Plan Investment Board
> One
Queen Street East, Suite 2500
> Toronto, ON, M5C 2W5, Canada
>
Websites associated with this firm:
> www.cppib.com
> Phones: (416)
868-1171
> Fax: (416) 868-4760
>
>
> ----- Original
Message -----
> From: "David Amos" <david.raymond.amos@gmail.com>
>
To: <peter.teasdale@gov.ab.ca>;
<larry.stein@gov.ab.ca>
>
Sent: Monday, July 05, 2010 7:55 PM
> Subject: Fwd: Yo George Cope I am
still very curious if the lawyers
> Fred Crooks and Maritine Turcotte have
learned the meaning of the
> word INTEGRITY yet?
>
> Larry
Stein
> Project Counsel
> Called to the bar: 1980 (AB); Q.C.2006
(AB)
> Justice and Solicitor General (AB), Dept. of
> Strategic
& Business Serv., 6th Flr., Centrium Pl.
> 332 6 Ave. S.W.
>
Calgary, Alberta T2P 0B2
> Phone: 403-297-2340
> Email: larry.stein@gov.ab.ca
>
>
Peter V. Teasdale
> Executive Director
> Called to the bar: 1974
(AB); Q.C.1998 (AB)
> Justice and Solicitor General (AB), Dept. of
>
Crown Prosecution Serv. Div., Strategic & Business
> Serv., 3rd
Flr.
> 9833 109 St. N.W.
> Edmonton, Alberta T5K 2E8
> Phone:
780-427-5050
> Fax: 780-988-7639
> Email: peter.teasdale@gov.ab.ca
>
>
http://www.bell.ca/an-open-letter-to-all-canadians
>
>
---------- Forwarded message ----------
> From: David Amos <david.raymond.amos@gmail.com>
>
Date: Wed, 23 Jun 2010 00:42:36 -0300
> Subject: Yo George Cope I am still
very curious if the lawyers Fred
> Crooks and Maritine Turcotte have
learned the meaning of the word
> INTEGRITY yet?
> To: george.cope@bell.ca,
acampbell <acampbell@ctv.ca>,
>
alyson.queen@bellaliant.ca,
zeda.redden@bellaliant.ca,
>
karen.sheriff@bellaliant.ca,
fred.crooks@bellaliant.ca,
>
sasha.irving@emera.com,
James.Spurr@emera.com
>
Cc: martine.turcotte@bell.ca,
"rick.hancox"
> <rick.hancox@nbsc-cvmnb.ca>,
bce@computershare.com,
>
david.rodenhiser@nspower.ca,
"Bernard.LeBlanc"
> <Bernard.LeBlanc@gnb.ca>,
"kelly. lamrock" <kelly.lamrock@gnb.ca>,
>
"Bernard. Theriault" <Bernard.Theriault@gnb.ca>,
"oldmaison@yahoo.com"
>
<oldmaison@yahoo.com>,
securities <securities@sec.state.ma.us>,
>
"terry.seguin" <terry.seguin@cbc.ca>,
"Edith. Cody-Rice"
> <Edith.Cody-Rice@cbc.ca>,
oig <oig@sec.gov>,
krisaustin
> <krisaustin@panb.org>,
"David.ALWARD@gnb.ca"
<David.ALWARD@gnb.ca>,
>
"ddexter@ns.sympatico.ca"
<ddexter@ns.sympatico.ca>,
peacocrs
> <peacocrs@gov.ns.ca>,
"brigdit.leger" <brigdit.leger@rcmp-grc.gc.ca>,
>
lapoinjr <lapoinjr@gov.ns.ca>,
"Wayne.Lang"
> <Wayne.Lang@rcmp-grc.gc.ca>
>
>
----- Original Message -----
> From: martine.turcotte@bell.ca
>
To: motomaniac_02186@hotmail.com
>
Cc: bcecomms@bce.ca ;
W-Five@ctv.ca
>
Sent: Thursday, August 19, 2004 10:28 AM
> Subject: RE: I am
curious
>
> Mr. Amos,
>
> I confirm that I have received
your documentation.
>
> There is no need to send us a hard copy. As
you have said yourself,
> the documentation is very voluminous and after 3
days, we are still in
> the process of printing it.
>
> I have
asked one of my lawyers to review it in my absence and report
> back to me
upon my return in the office. We will then provide you with
> a
reply.
>
>
> Martine Turcotte
> Chief Legal Officer /
Chef principal du service juridique
> BCE Inc. / Bell Canada
> 1000
de La Gauchetière ouest, bureau 3700
> Montréal (Qc) H3B
4Y7
>
> Tel: (514) 870-4637
> Fax: (514) 870-4877
>
email: martine.turcotte@bell.ca
>
>
Executive Assistant / Assistante à la haute direction: Diane
Valade
>
> Tel: (514) 870-4638
>
> email: diane.valade@bell.ca
>
>
-----Original Message-----
> From: David Amos mailto:motomaniac_02186@hotmail.com
>
Sent: Thursday, August 19, 2004 6:12 AM
> To: Turcotte, Martine
(EX05453)
> Cc: bcecomms@bce.ca; W-Five@ctv.ca
>
Subject: I am curious
>
> Madam
>
> I did not receive a
response from you to the last email so I am not
> certain if you received
it. I must inform you that I will be closing
> my briefcase in Yahoo for
public view at the end of the week. I have a
> great deal of material to
add and I only wish certain parties to view
> it. I opened it for you the
other day as an act of good faith. Mr.
> Pozen can check my work in the
dockets of the various courts around
> Boston they are a matter of Public
Record my files are not. As you can
> see by this and some following
emails. I am very busy dealing with
> criminal matters first before filing
civil complaints in the USA. As I
> told you when you called a lot has
been happening. I have made a lot
> of cops mad at me and I don't trust
them a bit particularly after the
> Police Commission is willing to check
their work so i have been busy
> watching my back and covering my butt.
However that does not mean that
> I have not thought about our
conversation and was curious about a few
> things.
>
> I was
glad to receive your call and impressed by the fact that you
> were more
than willing to receive the material and a copy of the
> wiretap tape in
particular. Your stated willingness to uphold the law
> was a rare
statement to me. However I was curious why you only
> mentioned my
voicemail to Mr. Pozen and not the email to your company
> and the news
program that it owns. Did they not inform you as well? If
> they didn't I
am not surprised because I have some other rather
> interesting denials
from the Media. the most interesting would have to
> be from the PBS
program called Frontline when I introduced its
> producer Michael Sullivan
to the US Attorney Michael J. Sullivan. Now
> that is a story well worth
W5 telling. Too bad they showed me their
> ass. As a courtesy to you and a
further act of good faith, I will not
> forward this email to anyone else
until after I return to the USA and
> nothing has been resolved between
BCE and I and I am compelled to name
> it in my complaint. I would find it
very hard to believe that Mr,
> Pozen does not know everything he needs to
know about me right now.
>
> I had also called a lawyer, Steven
Skurka who had a week long little
> special on CTV . I had tried to inform
him that I knew my rights his
> assistant hollered at me. You from
speaking to me yourself that I am
> not a rude character. I found it too
funny to be treated that way and
> I had resolved to serve him this stuff
byway of the local ATV Station
> that had presented his smiling talking
head to me. That is why I was
> telling you that you could get this stuff
from the local ATV station.
> I found it quite strange that you did not
rely on them to send it on
> to you. Thus I must make an extra copy to
comply with your request.
>
> I know the date stamp on the forwarded
email is incorrect but that is
> because my old laptop goes to the first
year in it when I boot up and
> sometimes I am too busy or tired to bother
changing it. However MSN
> tracks it with the true date. Brad Smith and I
have a bone to pick as
> well and I have been checking his work rather
closely since he ignored
> my letter to him last year. His boss Bill Gates
is gonna be very angry
> and Brad Smith and Steve Balmer in the near
future if I have anything
> to do with it. If you do act ethically and
immediately I will settle
> with your company very cheaply in comparsion
to the bottom lines of my
> first two complaints. In fact I will be so
impressed I will
> immediatlely offer you a better job than the one you
have now. Please
> study the material I will provide you closely and ask
me any thing you
> wish.
>
> I will do as I promised and send
the material you requested as soon as
> I can put it all together. Right
now I am on the move and far away
> from my printer. Is the following your
correct address? Perhaps you
> should consider sending someone to the my
meeting with the Police
> Commission in Fredericton next week in order to
hear me speak of these
> matters to law enforcement before I return to the
USA. Once I do
> return there I will serve the Mr. Pozen the material as
promised and
> call him to testify in my pending trial. The following
emails should
> explain some of my concerns to you. My wife will be in
Canada next
> week as well to pick up our kids. I will allow you to speak
to her if
> you wish. She has had a nervous breakdown over the legal crap
and I do
> have her Durable Power of Attorney pursuant to M.G.L. 201 B.
Mr. Pozen
> can ask Robert S. Creedon Jr. about that document. I argued it
with
> him before the entire Judicuary Commitee on Sept. 18th
2003.
>
> I will call you in a minute to make certain that you get
this and the
> following emails.
>
> David R.
Amos
>
> Martine Turcotte
>
> 1000 de la Gauchetiere
Ouest
> Floor 41
> Montreal, Quebec H3B 58H Canada
> Tel:
(514) 870-4637
> Fax: (514) 870-4877
>
> For the Record I gave
the Irving "Rag called the Gleaner" in Fat Fred
> City and the CBC dudes
in Toronto copies of the following lawsuits in
> the USA in 2002 long
before I gave some material to Bellglobemedia
> byway of their W-Five yo
yos. Clearly nobody knows how to read if they
> don't think I ain't sued
folks before EH?
>
> Ask W-Five or their lawyers if I am a liar or
not. Better yet ask
> Stevey Boy Murphy or Andy Campbell in Fat Fred City
if they dare to
> chaleenge the truth. If all else fails and you bloggers
seek counsel
> you can trust why not ask Chucky Leblanc or your "Blogger
General"
> T.J. Burke he received the same documents on June 24th, 2004
the day
> Danny boy Busierres and the Fat Fred City Finest attempted to
banish
> me from the LEG but it ain't worked out to well for them yet EH
Chucky
> Leblanc? However chucky was quick to report that I was banished
the
> following day and ain't said apeep about it since. Who to you
think
> told him not to talk about it? Kelly lamrock, T.J. Burke. the
Irvings
> or all three?
>
> FYI W-Five took an interest in my
matters at about the same time
> Chretien's underling was calling Bush a
moron.(I oftern call myself an
> oxymoron Methinks somebody has been
studing my words EH?) I supported
> Chretein's underling's thinking in two
affidavits demanding judgements
> by default filed in the following
dockets on December 12th, 2002.
>
> The following day Cardinal Law
(Methinks that is why chucky hates me
> so) quit Beantown and ran off to
the Holy See. Years later he helped
> pick the latest Pope(a former Hitler
Youth who is making his bones
> with the croooked little Georgey Boy Bush
Jr. right now in the USA.)
>
> Never Forget the Queen is the
protector of the Faith of the Church of
> England . She would not allow
her family's assests to be stolen and
> given to the catholic Church. Why
should I act any different?
>
> ----- Original Message -----
>
From: W-FIVE Viewer Mail
> To: David Amos
> Sent: Thursday, November
28, 2002 3:03 PM
> Subject: RE: possble story
>
>
> Dear
Mr. Amos,
>
> I would like to thank you for your email to W-FIVE,
sorry for the
> delay in responding.
>
> We review every email
and story idea that we receive here at W-FIVE
> and give it serious
consideration. Your email has been forwarded to
> our executive and senior
producer for review. If we are interested in
> pursuing your idea further,
you will be contacted by one of our
> researchers.
>
> Thanks
again for your input. Your interest in our program is much
>
appreciated.
>
> Sincerely,
>
>
Lisa-Marie
>
> Production Coordinator
>
>
W-FIVE
>
> -----Original Message-----
> From: a friend of
David Amos' email account
> Sent: Thursday, November 07, 2002 2:28
PM
> To: W-FIVE@ctv.ca
>
Subject: possble story
>
>
> I am a Canadian Citizen who thus
far, as a plaintiff, has two Lawsuits
> in the US District Court of
Massachucetts they are numbered 02-11686-
> RGS and
02-11687-RGS.
>
> They were removed to that Court from the Norfolk
Superior Court by the
> US Attorney Michael J. Sullivan very improperly.
However they shall
> remain there because of my status as a Canandian
Citizen. Judge Sterns
> has not even held a Conference about the matters
because he likely
> does not want to hear the matter because I have
presented all Members
> of the Bar with their worst fear of a catch 22
problem.
>
> Accordinging to law he is late. I have complained of 47
defendants 34
> of whom are State Defendants( the Attorney General, The
Commission of
> Judicial Conduct Board of Bar Overseers etc) and 3 are
Federal
> Treasury Agents. Some of the defendants are over two months late
in
> their answer to the Summons.
>
> The smallest suit
amounts to 188 million dollars in the form of
> relief. There is a lot to
these matters and too much to briefly
> explain. But in a nutshell my
wife's Aunt, who is buried beside Rose
> Kennedy, left my wife some money.
It was stolen by her relatives in
> executing the estate. No news there.
But the crooks are very well
> connected politically and every part of the
old crony network in
> Boston covered for them.
>
> The crook
and our cousin, Charles J. Kickham Jr of the Kickham Law
> Office on
Beacon St, has been past President of Bar Associations. He
> has sat on
the Board of Governors of Harvard Law School etc. I have
> given much
information to many members of the press who have simply
> ignored some
interesting facts.
>
> What should be somewhat newsworthy is how far
a wild colonial boy has
> come in prosecuting Pro Se the most profund
Yankee carpetbaggers. My
> next two lawsuits Under title 18 are wickedly
righteous. I have left
> one copy of much information in Saint John New
Brunswick at a lawyer's
> Office, Mosher and Chedore 33 Charlotte St if
some one wishes to view
> them. I can be reached at this Cell number 506
434- 1379
>
> David R. Amos
>
Province
gives $3.6M to Bell Canada to create 150 jobs
Announcement for Fredericton
comes days after auditor-general
criticizes Opportunities New Brunswick
secrecy
By Jacques Poitras, Posted: Oct 06, 2017 5:37 PM AT
Days after
a new controversy about government subsidies to business,
the New Brunswick
government has announced it will hand over $3.6
million in taxpayer money to
one of Canada's largest and most
profitable companies.
Opportunities
New Brunswick says Bell Canada will create "up to" 150
jobs in a new national
service centre in Fredericton over the next
five years thanks to payroll
rebates.
Glen LeBlanc
Bell’s chief financial officer Glen LeBlanc says
the company has no
issue with transparency and will reveal how many jobs it
creates.
(Mikael Mayer/Radio Canada )
The job-creation Crown
corporation bragged that the position will
generate $7.5 million in tax
revenue for the province, earning back
twice as much as what taxpayers will
spend creating them.
But ONB officials refused in a technical briefing
with reporters to
say exactly how many of the jobs jobs will be created in
each of the
five years and how much of that tax revenue would come each
year.
Bell's chief financial officer Glen LeBlanc later told reporters
he
had no problem disclosing the specifics.
"We have no issue with
transparency," LeBlanc said. "We've already
hired 12 people." He said he
expected 75 would be in place by this
time next year and the rest of the 150
within three to five years.
He said the company will be willing to update
the actual numbers in the future.
"We have no issue with being
transparent on those targets," LeBlanc said.
Privacy issues
Earlier
this week, ONB's CEO Stephen Lund responded to criticism from
the
auditor-general on job-creation secrecy by saying the Crown
corporation was
aiming to be more open.
"We are trying to be as transparent as we can,
but there are some
privacy issues," he said on
Tuesday.
Auditor-General Kim MacPherson's new audit of the Atcon
fiasco
criticized Opportunities New Brunswick and other
government
job-creation agencies for not implementing most of her
2015
recommendations on avoiding another Atcon.
NB CFO Paul Fudge
(left) and CEO Stephen Lund
Chief financial officer Paul Fudge, left, and
chief executive officer
Stephen Lund spoke to reporters in Fredericton about
the auditor
general's report on Atcon Tuesday afternoon. (Jacques
Poitras/CBC)
MacPherson zeroed in on the government practice of
predicting
anticipated jobs but then not disclosing how many of those
positions
end up being created.
"We had recommended that actual
results need to be reported to assess
the performance of spending on
financial assistance," she said
Tuesday. "It's not enough to say 'expected
jobs' or 'committed jobs.'
What about 'actual jobs?'"
Lund said on
Tuesday that it would violate the provincial privacy law
to reveal a
company's precise job-creation figures.
He said Opportunities New
Brunswick was looking at releasing aggregate
data, such as the total number
of jobs it projected among all subsidy
recipients versus how many were
created.
He also said the agency may release company-by-company figures
on
payroll rebate amounts.
Sees rebates as risk-free
"We're trying
to be more transparent," Lund said. "We're looking at
ways that we can start
to show how much money we provided on an annual
basis to companies without
being specific on the actual job numbers."
He also said the agency may
eventually ask companies to waive their
right to keep their job numbers
secret.
Lund said payroll rebates are a risk-free way of
subsidizing
businesses. A company that receives them must be audited on
jobs
created each year, and the rebates are only paid out per
position
after they've been created.
ONB release
Opportunities New
Brunswick says Bell Canada will create 'up to' 150
jobs in a new national
service centre in Fredericton over the next
five years. It will receive $3.6
million from the provincial
government. (Mikael Mayer/Radio
Canada)
LeBlanc said the new Bell jobs will pay on average $75,000 a
year. Of
the 12 positions already filled, six employees were recruited
from
outside the province, which he said adds an even greater
economic
benefit.
Bell's parent company, BCE, earned a second-quarter
profit of $762
million this year.
Ahmed Babiker, who was recruited in
Montreal, told reporters he was
happy to relocate to
Fredericton.
"It's a much different, quieter, much much quieter than
Montreal," he
said. "People are really friendly."
LeBlanc said the
province's forecast of $7.6 million in tax revenue
from the jobs would be
based on taxes from a smaller number of
positions filled in year one,
following by a "ramping up" in the
future.
LeBlanc said he was unable
to explain Opportunities New Brunswick's
estimate of a total $60.3 million
boost to the province's gross
domestic product.
Ahmed
Babiker
Ahmed Babiker, who was recruited in Montreal, says he was happy
to
relocate to Fredericton for a job with Bell Canada.
(Jacques
Poitras/CBC)
"I certainly don't have the details in front of
me of how it can add
up to 60.3 million, but I don't think it's a stretch to
get there when
you're talking about 150 jobs at the salary level I alluded
to
earlier," he said.
"That's a question you'll have to direct to the
government. That's
obviously their press release at Opportunities New
Brunswick."
Lund left the announcement Friday morning before reporters
could speak to him.
A spokesperson for the agency said in an email later
in the day that
the GDP figure was calculated using a Statistics Canada
model.
George
Cope
President and Chief Executive Officer
BCE Inc. and Bell
Canada
George Cope is leading the transformation of Canada’s
largest
communications company into the nation’s broadband leader, with
a
strategy of unparalleled investment in advanced networks,
innovative
communications and media services, and an improved
customer
experience. Bell is focused on building Canada’s
next-generation
broadband infrastructure and driving growth in Wireless, TV,
Internet
and Media while delivering sustainable returns to
shareholders.
Recognized as Canada’s Outstanding CEO of the Year for
2015, Mr. Cope
has earned a reputation as a strategic leader and builder
of
high-performance teams in public-company chief executive roles over
the
past 30 years. Appointed President and CEO of BCE and Bell Canada
in July
2008, Mr. Cope led the launch of the Bell Let’s Talk
initiative, the
largest-ever corporate commitment to Canadian mental
health and now one of
the country’s most prominent community
investment campaigns.
A
graduate of the Ivey School of Business at Western University (HBA
’84), Mr.
Cope was named Ivey Business Leader of the Year in 2013 and
serves on the
school’s advisory board. He has been awarded honourary
doctorates by his alma
mater and the University of Windsor, was Chair
of United Way Toronto’s
record-breaking 2013 campaign, and received
the Queen’s Diamond Jubilee Medal
for his work on Bell Let’s Talk. Mr.
Cope was appointed a Member of the Order
of Canada in 2014. He serves
as a Director of Bank of
Montreal.
Martine Turcotte
Vice Chair, Québec
As Vice Chair,
Québec, Martine Turcotte is responsible for driving the
company’s business,
government and community investment initiatives
across Québec.
Ms.
Turcotte is an accomplished leader with more than 25 years of
strategic,
legal and regulatory career achievements at Bell. In 1999,
Mme. Turcotte was
the first woman to be named Chief Legal Officer of
Bell and the youngest to
join the ranks of the executive team.
She is Chair of the Théâtre Espace
Go, as well as a member of the
boards of directors of Empire / Sobeys and
CIBC. She is also a member
of the boards of Governors of McGill University
and Montréal en
Lumière and a trustee of the Jewish General
Hospital.
Mirko Bibic
Chief Legal & Regulatory Officer and
Executive Vice President,
Corporate Development
As Chief Legal &
Regulatory Officer and Executive Vice President,
Corporate Development, for
Bell and BCE Inc., Mirko Bibic is
responsible all Bell legal, regulatory and
government affairs and
moving Bell’s corporate strategy forward.
Mr.
Bibic joined Bell as Senior VP, Regulatory in January 2004 and was
later
promoted to Senior VP, Regulatory & Government Affairs in 2008.
Under Mr.
Bibic’s leadership, Bell’s Regulatory and Government Affairs
teams
effectively contributed to public policy decisions supporting
investment,
innovation and growth in Canadian communications. He was
promoted to
Executive Vice President and Chief Legal & Regulatory
Officer in March
2012. Having played a key role in every major
acquisition and investment made
as part of Bell’s transformation since
2008, Mr. Bibic assumed additional
responsibilities as Executive Vice
President, Corporate Development, in June
2015.
Prior to joining Bell in 2004, Mr. Bibic was managing partner of
the
Ottawa office of Stikeman Elliott LLP. He holds a Law degree from
the
University of Toronto and was called to the Ontario bar in 1994.
Glen
LeBlanc
Executive Vice President and Chief Financial Officer
Glen
LeBlanc was appointed Executive Vice-President and Chief
Financial Officer of
BCE and Bell Canada in June 2015. He leads all
Finance strategy and
operations with a capital markets strategy
focused on enabling Bell’s
industry-leading capital investment in
broadband networks and service
innovation, and sustainable dividend
growth for BCE shareholders.
In
addition to his responsibilities as CFO, Mr. LeBlanc assumed the
role as Vice
Chair, Bell Aliant in 2017 with a commitment to champion
Bell network and
community investment across Atlantic Canada.
Mr. LeBlanc joined BCE in
2014 as Senior Vice-President, Finance
following the privatization of Bell
Aliant, where he had served as
Executive VP and CFO since 2006.
Mr.
LeBlanc is past Chair of the Certified Management Accountants
(CMA) of Nova
Scotia board and played an active role in the merger and
unification of the
Chartered Professional Accountants (CPA) of Canada.
He previously served on
the boards of the Greater Halifax Partnership,
Atlantic Provinces Economic
Council, Cape Breton University and Feed
Nova Scotia.
Mr. LeBlanc
holds a Bachelor of Commerce degree from St. Mary’s
University and is a
Fellow Chartered Professional Accountant (FCPA)
and Fellow Certified
Management Accountant (FCMA). Glen also holds an
ICD.D designation from
Rotman School of Management. He was named to
Canada’s Top 40 Under 40 in
2005.
Bell
Aliant makeover startsTHE CHRONICLE HERALD
Published November 3, 2014 -
12:15pm
Last Updated November 3, 2014 - 6:39pm
Comments
Senior
positions change; more could come, says new vice-chairman
Dan McKeen has
been named vice-chairman of Bell Aliant. (Staff / File) .
Customers won’t
notice any immediate change now that Bell Aliant has
gone private, new top
boss Dan McKeen says. But changes are in store
for employees, starting with
senior executive changes announced
Monday.
McKeen was named
vice-chairman of Bell Aliant on Monday by
Montreal-based parent BCE Inc.,
which also owns Bell Canada. He is
also senior vice-president of residential
services.
The newly minted vice-chairman said he couldn’t say what
changes there
will be in the size of Bell Aliant’s workforce because the
process is
underway now with the non-unionized ranks.
“We are looking
at some savings and making sure that there is some
synergy,” McKeen said in
an interview. “As you bring two organizations
together into one unified Bell
management team, there are going to be
some duplication of roles. We will be
looking at those … through the
next number of days to see what changes are
appropriate.”
McKeen, who was senior vice-president of customer solutions
before
Bell Aliant’s merger, replaces Karen Sheriff, who was president
and
CEO under the previous structure.
She will retire at the end of
the year, BCE announced recently.
Meanwhile, two other senior Bell Aliant
executives will follow suit in
the coming months.
Fred Crooks,
executive vice-president of corporate services and chief
legal officer, also
departs at the end of the year.
Chuck Hartlen, senior vice-president of
customer experience, will
retire in 2015.
Their departures were
announced Monday in an internal memo from George
Cope, president and CEO of
BCE and Bell Canada, that outlined several
organizational changes stemming
from the merger.
The $3.95-billion privatization plan was announced in
July and completed Friday.
Besides McKeen, another former Bell Aliant
executive is being promoted
as Bell Aliant’s operations are folded into those
of Bell Canada.
Glen LeBlanc, the Atlantic telecom’s chief financial
officer, is now
BCE’s senior vice-president of finance. He will become CFO of
BCE and
Bell Canada when Siim Vanaselja retires in the spring, the
parent
company announced last month.
Meanwhile, BCE also announced
Monday that Bell Aliant director Rob
Dexter has joined BCE’s board. Dexter is
CEO of Maritime Travel Inc.
Officials with Unifor, which represents
unionized Bell Aliant workers
in Atlantic Canada, has said it doesn’t expect
that privatization will
lead to layoffs for its members.
A new
contract ratified last week includes provision for up to 450
workers to be
offered early retirement over the next three years. Bell
Aliant has agreed to
replace 60 per cent of those positions.
Unifor represents 2,800 Bell
Aliant workers in the region, including
1,050 in Nova Scotia.
Overall,
Bell Aliant has about 4,500 employees in Atlantic Canada. The
number jumps to
6,300 when its Quebec and Ontario business is
included.
As for
customers, McKeen said the merger will bring benefits in the
medium and
longer term, including access to more national services, as
well as new
products and other offerings.
“It’s about bringing us together as one
team to provide additional
benefits to our customers and making us a stronger
competitor.”
BCE Inc to take regional telecom unit Bell
Aliant private for
$3.95-billionTumblrPinterestGoogle
PlusLinkedInRedditIn a move aimed
at bolstering cash flow and streamlining
corporate structure, Telecom
giant BCE Inc. announced it will pay $4-billion
for the shares it
doesn’t already own in subsidiary Bell
Aliant.
Bell
Media has laid off 91 employees at its television operations,
with numerous
channels affected including CTV, MuchMusic, M3, Space,
MTV, Space and
E!.
[/np_storybar]
Bell Aliant, currently 44% owned by BCE, provides
telecommunications
services across Atlantic Canada and industry observers
have long
speculated that the two organizations would eventually get
folded
together as a way to take advantage of synergies and cost
savings.
Under the deal, Canada’s largest telecom which already
exercises
management control has offered to pay $31 a share or
about
$3.93-billion in cash and stock for the 127.5-million Bell
Aliant
shares that it doesn’t already own.
Shares in BCE jumped more
than 1% on the TSX in intraday trading,
while Bell Aliant moved up 11%,
slightly above the offer, to $31.31.
“Privatizing Bell Aliant enhances
our broadband investment strategy
and capital markets objectives while
delivering great value to the
public minority shareholders who have supported
Bell Aliant’s
success,” BCE chief executive George Cope said in a
statement.
The transaction comes amid a push from the federal government
to boost
competition in the wireless sector by creating a fourth player
to
compete with BCE, Rogers Communications Inc. and Telus Corp., a
move
that some observers worry could put pressure on industry
revenue.
A key benefit of the deal is that it will boost BCE’s free cash
flow
and some analysts said that by doing it now, BCE is bolstering
its
defenses in preparation for what may be coming.
“In terms of
wireless competition, if you have a fourth provider that
could get up and
running next year, this deal makes even more sense,”
said Maher Yaghi, an
analyst at Desjardins Securities.
Getting it done sooner rather than
later “allows [BCE] to have access
to cash flows faster, and you don’t have
to sacrifice dividend growth”
if margins do get squeezed down the
road.
Since it already owns a controlling stake in Bell Aliant, BCE said
it
does not need approval from the Canadian Radio-television
and
Telecommunications Commission or Industry Canada.
Formed in 1999
through the merger of a group of local telcos, Bell
Aliant has operations
across the Maritimes as well as parts of Ontario
and Quebec.
Combining
the two companies under one roof provides significant
savings on management,
enabling the combined company greater
flexibility as it rolls out
next-generation 4G LTE service across its
wireless network and boosts
investment in broadband services. BCE said
Wednesday it plans to spend
$2.1-billion in Atlantic Canada over the
next five years as it rolls out new
services.
BCE said it anticipates additional free cash flow after
common
dividends of about $200-million a year and $100-million of
pre-tax
synergies once expense and other duplications are
eliminated.
The transaction should be “immediately accretive to BCE”,
said Dvai
Ghose, an analyst at Canaccord Genuity. In a note to clients,
Mr.
Ghose said he expects the offer — which has already received
the
thumbs up from the Bell Aliant board — will be approved by Bell
Aliant
shareholders.
The deal comes as the telecom sector is facing
slowing revenue growth
across a number of businesses such as traditional
landlines and cable.
Mr. Ghose said one potential problem is that the
transaction will have
a “negative impact” on BCE’s mix of assets, leaving it
with greater
concentration in slow-growth sectors. On the plus side, he said,
the
synergies will at least partly offset the negatives.
The deal
“suggests to us that BCE has to continue to acquire to grow
dividends, unlike
its nearest peer Telus, which has targeted at least
10% annual dividend per
share growth to 2016,” he said.
Bell
Aliant Privatization - Information for Bell Aliant common shareholders
On
July 23, 2014, BCE announced it would privatize Bell Aliant by
acquiring the
interest of Bell Aliant’s public minority shareholders.
On October 3,
2014, BCE announced the successful completion of its
tender offer to purchase
all outstanding Bell Aliant publicly held
common shares.
On November
3, 2014, BCE announced the formal close of the transaction
as BCE acquired
all remaining Bell Aliant common shares not acquired
under BCE’s tender offer
through a compulsory acquisition effective
October 31, 2014.
Bell
Aliant common shares were de-listed from the Toronto Stock
Exchange (TSX) on
October 31, 2014.
Under the terms of BCE’s common share tender offer,
which expired on
October 2, 2014, Bell Aliant common shareholders could elect
to
receive either:
1.Cash Option ($31 in cash, subject to
pro-ration)
2.Share Option (0.6371 of a BCE common share, subject to
pro-ration)
3.Cash and Share Option ($7.75 in cash and 0.4778 of a BCE common
share)
Former holders of Bell Aliant common shares who elected either
Option
1 or Option 2 were subject to pro-ration such that the
aggregate
consideration paid was 25% in cash and 75% in BCE common shares.
The
share consideration was based on BCE’s 10-day volume weighted
average
price on July 22, 2014 (the day before announcement of
the
transaction) of $48.66. As a result, shareholders may have received
a
combination of cash and BCE common shares in the manner described in
the
Letter of Instruction and Offer Circular.
Former holders of Bell Aliant
common shares who did not tender to
BCE’s common share offer and whose shares
were therefore acquired by
BCE through the compulsory acquisition had the
opportunity to elect
one of the above options by November 10, 2014 (the Final
Election
Deadline). Common shareholders who did not make a valid election
prior
to the Final Election Deadline were deemed to have elected to
receive
Option 3 (Cash and Share Option).
Information for Former
Holders of Bell Aliant Common Shares who
submitted valid tenders by September
19
Information for Former Holders of Bell Aliant Common Shares
who
submitted valid tenders between September 20 and September
29
Information for Former Holders of Bell Aliant Common Shares
who
submitted valid tenders between September 30 and October 2
Information
for Former Holders of Bell Aliant Common Shares whose
shares were acquired
after October 2 through the compulsory
acquisition
Tax Instruction Letter
and Questionnaire for Eligible Former Holders
of Bell Aliant Common
Share
Frequently Asked Questions about the Common Share Offer
Information
for Former Holders of Bell Aliant Preferred Shares
Frequently Asked Questions
about the Preferred Share Exchange Offer
Information for Bell Aliant
bondholders
Download Centre
Information for Former Holders of Bell Aliant
Common Shares who
submitted valid tenders by September 19
The table below
indicates the entitlement you received for each Bell
Aliant common share
validly tendered to BCE’s offer by 5:00 pm
(Eastern Time) on September 19,
2014, with take-up and payment by BCE
on September 24, 2014. The pro-ration
was applied only to the Cash
Option (option 1).
Election Entitlement
to be Received*
1.Cash Option
Approx. $14.60 in cash and approx. 0.3370
of a BCE common share
2.Share Option
0.6371 of a BCE common
share
3.Cash and Share Option
$7.75 in cash and 0.4778 of a BCE
common share
* All fractional shares were rounded down and paid in
cash en lieu.
Information for Former Holders of Bell Aliant Common
Shares who
submitted valid tenders between September 20 and September
29
The table below indicates the entitlement you received for each
Bell
Aliant common share validly tendered to BCE’s offer between
September
20 and September 29, 2014, with take-up and payment by BCE
on
September 30, 2014. The pro-ration was applied only to the Cash
Option
(option 1).
Election Entitlement to be Received*
1.Cash
Option
Approx. $11.66 in cash and approx. 0.3974 of a BCE common
share
2.Share Option
0.6371 of a BCE common share
3.Cash and
Share Option
$7.75 in cash and 0.4778 of a BCE common share
* All
fractional shares were rounded down and paid in cash en
lieu.
Information for Former Holders of Bell Aliant Common Shares
who
submitted valid tenders between September 30 and October 2
The table
below indicates the entitlement you received for each Bell
Aliant common
share validly tendered to BCE’s offer between September
30 and October 2,
2014, with take-up and payment by BCE on October 7,
2014. The pro-ration was
applied only to the Cash Option (option 1).
Election Entitlement to be
Received*
1.Cash Option
Approx. $11.10 in cash and approx. 0.4090 of a
BCE common share
2.Share Option
0.6371 of a BCE common
share
3.Cash and Share Option
$7.75 in cash and 0.4778 of a BCE
common share
* All fractional shares were rounded down and paid in
cash en lieu.
Information for Former Holders of Bell Aliant Common
Shares whose
shares were acquired after October 2 through the
compulsory
acquisition
BCE acquired the balance of common shares not
tendered to its common
share offer (which expired October 2, 2014) through a
compulsory
acquisition effective October 31, 2014.
The election
deadline for the compulsory acquisition was November 10,
2014. Common
shareholders who did not make a valid election prior to
the election deadline
were deemed to have elected to receive the Cash
and Share Option (option
3).
Common shareholders must deliver their share certificates and
a
properly completed letter of transmittal to CST Trust Company, at
the
office specified in the Notice of Compulsory Acquisition dated
October
10, 2014, in order to receive payment.
The table below
indicates the entitlement to be received for each Bell
Aliant common share
acquired by BCE pursuant to the compulsory
acquisition. The pro-ration was
applied only to the Share Option
(option 2).
Election Entitlement to
be Received*
1.Cash Option
$31.00
2.Share Option
$0.09 in cash
and 0.6352 of a BCE common share
3.Cash and Share Option
$7.75 in
cash and 0.4778 of a BCE common share
* All fractional shares were
rounded down and paid in cash en lieu.
Registered
Shareholders
Please note that for all BCE share entitlements, no share
certificates
have been mailed. The BCE shares have been electronically
registered,
and shareholders have been provided with DRS (Direct
Registration
System) Statements.
Further assistance
Any
questions may be directed to CST Trust Company:
CST Trust Company
Toll
free in North America: 1-866-271-6893
Outside of North America:
1-416-682-3860
E-mail: inquiries@canstockta.com
Tax
Instruction Letter and Questionnaire for Eligible Former Holders
of Bell
Aliant Common Shares
If you are a Canadian resident and wished to make a tax
election for
income tax purposes in respect of your Bell Aliant common
shares
disposed of pursuant to the BCE offer, you were required to complete
a
short questionnaire within 90 days after the disposition of your
common
shares. Within 30 days of receipt of your completed
questionnaire, a tax
election form signed by BCE containing your
information was provided to
you.
The deadline for submission of the completed questionnaire has
passed
and your tax elections are currently being processed.
For any
questions or concerns about the questionnaire or the tax
instruction letter,
please email the Technical Assistance Helpline at bellaliant@taxelection.ca.
For
any additional questions, please contact the CST Trust Company at:
Toll
free in North America: 1-866-271-6893
Outside of North America:
1-416-682-3860
E-mail: inquiries@canstockta.com
Frequently
Asked Questions about the Common Share Offer
The questions and answers below
are not meant to be a substitute for
the more detailed description and
information contained in the Offer
and Circular , the Letter of Transmittal
and Election Form and the
Notice of Guaranteed Delivery. Bell Aliant common
shareholders were
urged to read each of these documents carefully prior to
making any
decision regarding whether or not to tender their Bell Aliant
common
shares.
WHAT DO I HAVE TO DO?
What will I receive
for my Bell Aliant common shares if I did not make
a valid election by the
November 10, 2014 deadline for the compulsory
acquisition?
Former Bell
Aliant common shareholders whose shares were acquired by
BCE through the
compulsory acquisition who did not make a valid
election by the November 10,
2014 deadline were deemed to have elected
to receive $7.75 in cash and 0.4778
of a BCE common share.
I did not transfer my Bell Aliant common shares to
BCE under the
compulsory acquisition. What happens to my shares? Can I still
receive
payment?
Former Bell Aliant common shareholders whose shares were
acquired by
BCE through the compulsory acquisition who did not make a
valid
election prior to the November 10, 2014 deadline were deemed to
have
elected to receive $7.75 in cash and 0.4778 of a BCE common
share.
If you are a former registered shareholder (meaning that you have
a
physical certificate representing your Bell Aliant common
shares
registered in your name), you must deliver your share
certificate(s)
by mail to the transfer agent. Please join a letter confirming
that
you wish to exchange your Bell Aliant shares following BCE offer,
and
indicate your name, address and phone number:
CST Trust
Company
P. O. Box 1036
Adelaide Street Postal Station
Toronto, Ontario
M5C 2K4
Canada
Attention: Corporate Actions
If you wish to receive
a share certificate for the BCE shares instead
of a DRS statement (Direct
Registration System), please mention it in
your letter.
If your Bell
Aliant common shares were held in an account with an
investment dealer,
broker, bank, trust company or other nominee, your
shares should have been
automatically transferred to BCE after the
November 10, 2014 deadline and you
should have received payment. If
you have not received payment for your Bell
Aliant common shares, you
should contact your representative.
What if
I have lost my Bell Aliant common share certificate(s)? What
do I have to do
to receive payment for my shares?
You should contact CST Trust Company, who
will advise you on the
requirements to replace the lost certificate(s). Once
replaced, you
must deliver your share certificate(s) and a properly completed
letter
of transmittal to CST Trust Company, at the office specified in
the
Notice of Compulsory Acquisition dated October 10, 2014, in order
to
receive payment.
What if I still hold share certificates for Bell
Aliant predecessor companies?
If you still hold certificates representing
securities in one of Bell
Aliant’s predecessors (including Bell Aliant
Regional Communications
Income Fund, Aliant, Bruncor, Island Tel, MT&T
and New Tel), you may
still make a demand for payment under BCE’s compulsory
acquisition by
delivering the certificates representing those securities
along with a
properly completed letter of transmittal to CST Trust Company,
at the
office specified in the Notice of Compulsory Acquisition dated
October
10, 2014, in order to receive payment.
DIVIDENDS
How
did BCE's offer impact my Bell Aliant dividends?
Bell Aliant had agreed to
not declare the regular quarterly dividend
that would have been payable on
Bell Aliant common shares on October
6, 2014. In addition, if you accepted
BCE’s offer and receive BCE
common shares, you did not receive BCE’s third
quarterly dividend
declared on August 7, 2014 and paid on October 15,
2014.
TAX IMPLICATIONS
What are the Canadian federal income tax
consequences of accepting BCE's offer?
If you are a resident of Canada and
held your Bell Aliant common
shares as capital property and you sold your
Bell Aliant common shares
pursuant to BCE’s offer, you will generally realize
a capital gain (or
capital loss) to the extent that the proceeds of
disposition of such
Bell Aliant common shares exceed (or are less than) the
total of your
adjusted cost base of such Bell Aliant common shares and
any
reasonable costs of disposition. However, if you were an
Eligible
Holder and you received BCE common shares (whether pursuant to
the
Share Alternative , the Cash Alternative (in the event of
pro-ration)
or the Cash and Share Alternative ) you may, depending upon
your
circumstances, obtain a full or partial tax-deferred “rollover”
by
making a joint election with BCE pursuant to subsection 85(1) of
the
Tax Act (and the corresponding provisions of any applicable
provincial
legislation). If you elected the Share Alternative and you
received
only BCE common shares, you may in certain circumstances obtain
an
automatic tax-deferred “rollover” and also be entitled to make a
joint
election. Please visit the tax election website for assistance
with
the tax election process.
If you are not a resident of Canada you
generally will not be subject
to tax under the Tax Act on any capital gain
realized on a disposition
of your Bell Aliant common shares pursuant to BCE’s
offer, unless your
Bell Aliant common shares were “taxable Canadian property”
and were
not “treaty-protected property”.
The above is a brief summary
of Canadian federal income tax
consequences only and is qualified by the
description of Canadian
federal income tax considerations in Section 25 of
the Circular,
“Certain Canadian Federal Income Tax Considerations”. Former
holders
of Bell Aliant common shares are urged to consult their own
tax
advisors to determine the particular tax consequences to
them.
What are the U.S. federal income tax consequences of accepting
BCE's offer?
The exchange of Bell Aliant common shares for BCE common shares
and/or
cash pursuant to BCE’s offer is a taxable transaction for U.S.
federal
income tax purposes. Former U.S. holders of Bell Aliant common
shares
generally will recognize a gain or loss equal to the difference,
if
any, between (a) the fair market value of any BCE common
shares
received in exchange for such Bell Aliant common shares, measured
in
U.S. dollars, plus the U.S. dollar value of any cash received
in
exchange for such Bell Aliant common shares and (b) such U.S.
holder’s
adjusted tax basis in the Bell Aliant common shares. Any gain or
loss
recognized upon the exchange generally will be treated as capital
gain
or loss.
A non-U.S. holder will generally not be subject to U.S.
federal income
tax on gain recognized on exchange of Bell Aliant common
shares
pursuant to BCE’s offer unless the gain is “effectively
connected”
with the non-U.S. holder’s conduct of a trade or business in
the
United States or the non-U.S. holder is an individual present in
the
United States for 183 or more days in the taxable year of
the
exchange, and certain other requirements are met.
You are urged to
consult your own tax advisors to determine the
particular tax consequences to
you. For a brief summary of certain
U.S. federal income tax consequences of
accepting the offer, see
Section 26 of the Circular, “Certain United States
Federal Income Tax
Considerations” .
Where can I find the tax
instruction letter and Tax Election forms?
If you are a Canadian resident and
wished to make a tax election for
income tax purposes in respect of your Bell
Aliant common shares
disposed of pursuant to the BCE offer, you were required
to complete a
short questionnaire within 90 days after the disposition of
your
common shares. Within 30 days of receipt of your
completed
questionnaire, a tax election form signed by BCE containing
your
information was provided to you.
The deadline for submission of
the completed questionnaire has passed
and your tax elections are currently
being processed.
For any questions or concerns about the questionnaire or
the tax
instruction letter, please email the Technical Assistance Helpline
at bellaliant@taxelection.ca.
For
any additional questions, please contact the CST Trust Company at:
Toll
free in North America: 1-866-271-6893
Outside of North America:
1-416-682-3860
E-mail: inquiries@canstockta.com
MORE
INFORMATION
Who can I call for more information?
Any questions may be
directed to CST Trust Company:
CST Trust Company
Toll free in North
America: 1-866-271-6893
Outside of North America: 1-416-682-3860
E-mail:
inquiries@canstockta.com
Information
for Former Holders of Bell Aliant Preferred Shares
BCE’s preferred share
offer expired at 5:00 pm (Eastern Time) on
September 19, 2014. As all
conditions of BCE’s preferred share offer
have been satisfied, the BCE
preferred shares exchanged for tendered
Bell Aliant preferred shares were
issued on September 24, 2014 and
commenced trading on the TSX at the open of
trading on the next day.
On October 3, 2014, BCE announced that the
company had entered into an
agreement with Bell Aliant Preferred Equity Inc.
(Prefco) to effect an
amalgamation of Prefco with a newly incorporated,
wholly owned
subsidiary of BCE. The amalgamation of Prefco was approved
by
preferred shareholders on October 31, 2014 and became
effective
November 1, 2014.
Subject to the terms and conditions of the
amalgamation agreement,
Prefco preferred shareholders received the same newly
issued BCE
preferred shares, with the same financial terms as the existing
Prefco
preferred shares, that were received by preferred shareholders
who
tendered to the preferred share offer.
Bell Aliant preferred
shares were delisted from the TSX at the close
of trading on November 3,
2014.
Frequently Asked Questions about the Preferred Share Exchange
Offer
The questions and answers below are not meant to be a substitute
for
the more detailed description and information contained in the
Offer
and Circular and the Letter of Transmittal. Bell Aliant
preferred
shareholders were urged to read each of these documents
carefully
prior to making any decision regarding whether or not to tender
their
Bell Aliant preferred shares.
TAKE-UP AND EXCHANGE
What
did I receive in exchange for my Bell Aliant preferred shares?
In exchange
for each of your existing Bell Aliant preferred shares,
you received one
newly-issued preferred share of BCE having the same
financial terms as your
previous Bell Aliant preferred shares.
DIVIDENDS
Did I miss any
dividend payments if I accepted BCE's offer?
No. Acceptance of BCE’s offer
did not affect the amount or timing of dividends.
TAX
IMPLICATIONS
What are the Canadian federal income tax consequences of
accepting BCE's offer?
Taxable Canadian Bell Aliant preferred shareholders
who tendered their
Bell Aliant preferred shares to BCE’s offer will generally
be entitled
to a rollover to defer Canadian taxation on any capital gains
in
respect of such shares.
The above is a brief summary of Canadian
federal income tax
consequences only of accepting BCE’s offer and is
qualified by the
description of the Canadian federal income tax
considerations in
Section 24 of the Circular, “Certain Canadian Federal
Income Tax
Considerations”. You are urged to consult your own tax advisors
to
determine the particular tax consequences to you.
MORE
INFORMATION
Who can I call for more information?
Any questions may be
directed to CST Trust Company:
CST Trust Company
Toll free in North
America: 1-866-271-6893
Outside of North America: 1-416-682-3860
E-mail:
inquiries@canstockta.com
Download
Centre
Press release: BCE to privatize affiliate Bell Aliant (July 23,
2014)
Analyst Presentation: BCE to privatize affiliate Bell Aliant (July 23,
2014)
Press Release: BCE formally launches offers to purchase
all
outstanding Bell Aliant common shares and to exchange all
outstanding
Bell Aliant preferred shares (Aug 14, 2014)
BCE Common Share
Offer Circular (Aug 14, 2014)
Bell Aliant Directors' Circular - Common
Share (Aug 14, 2014)
BCE Preferred Share Exchange Offer Circular (Aug 14,
2014)
Bell Aliant Directors' Circular - Preferred Share Exchange (Aug 14,
2014)
Press release: BCE completes next step of Bell Aliant
privatization
(Sept 22, 2014)
Tax Instruction Letter (Sept 29,
2014)
Information Circular – Proposed amalgamation of Bell Aliant
Preferred
Equity Inc. (Oct 3, 2014)
Questionnaire for tax election (Oct
3, 2014)
Press release: BCE announces successful completion of Bell
Aliant
common share tender offer, transaction on track to close on or
about
October 31 (Oct 3, 2014)
Notice of compulsory acquisition (Oct 10,
2014)
Letter of Transmittal - Compulsory acquisition (Oct 10, 2014)
Press
release: BCE completes Bell Aliant privatization, invests in
Bell Aliant
brand and Atlantic Canada (Nov 3, 2014)
MONTRÉAL, May 3, 2018 /CNW Telbec/ - BCE Inc. (TSX: BCE) (NYSE: BCE)
today announced that shareholders voted in favour of all items of
business put forth by BCE at the company's Annual General Shareholder
Meeting today in Toronto, including the election of the Directors by a majority of the votes cast by shareholders present or represented by proxy:
Nominee
Votes For
% For
Votes Withheld
% Withheld
Barry K. Allen
380,071,870
98.20%
6,965,381
1.80%
Sophie Brochu
382,647,974
98.87%
4,386,782
1.13%
Robert E. Brown
382,323,782
98.78%
4,710,923
1.22%
George A. Cope
385,292,423
99.55%
1,742,282
0.45%
David F. Denison
384,451,265
99.33%
2,583,440
0.67%
Robert P. Dexter
367,157,600
94.86%
19,877,105
5.14%
Ian Greenberg
368,416,910
95.19%
18,617,795
4.81%
Katherine Lee
384,756,806
99.41%
2,278,051
0.59%
Monique F. Leroux
383,171,403
99.00%
3,863,302
1.00%
Gordon M. Nixon
(Chair of the Board)
379,291,408
98.00%
7,743,297
2.00%
Calin Rovinescu
383,183,052
99.00%
3,851,653
1.00%
Karen Sheriff
385,035,062
99.48%
1,999,643
0.52%
Robert C. Simmonds
382,861,987
98.92%
4,172,718
1.08%
Paul R. Weiss
378,610,346
97.82%
8,424,059
2.18%
For Director biographies, please visit the Board members & committees section under Governance on BCE.ca. Information regarding all matters subject to a vote during BCE's Annual General Shareholder Meeting is available on SEDAR.com.
About BCE BCE is Canada's
largest communications company, providing advanced Bell broadband
wireless, TV, Internet and business communication services throughout
the country. Bell Media is Canada's premier content creation company
with leading assets in television, radio, out of home, and digital
media. To learn more, please visit Bell.ca or BCE.ca.
The Bell Let's Talk initiative promotes
Canadian mental health with national awareness and anti-stigma campaigns
like Bell Let's Talk Day and significant Bell funding of community care
and access, research and workplace mental health initiatives. To learn
more, please visit Bell.ca/LetsTalk.
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David Amos
I'm Dr Ogudugu, a real and genuine spell caster/Spiritual healer with years of experience in spell casting and an expert in all spells, i specialize exclusively in LOVE SPELL/GET REUNITE WITH EX LOVER, MONEY SPELL, POWERFUL MAGIC RING, ANY COURT CASES, FRUIT OF THE WOMB, HIV CURE, CURE FOR CANCER, HERPES, DIABETE, HERPERTITIS B, PARKINSON’S HERBAL CURE, BECOMING A MERMAID, BECOMING A VAMPIRE, SAVE CHILD BIRTH. They are all %100 Guaranteed QUICK Results, it most work. If you have any problem and you need a real and genuine spell caster to solve your problems, contact me now through my personal Email Address with problem case...Note-you can also Text/Call on WhatsApp.
ReplyDeleteContact me -
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WhatsApp No: +27663492930