Mason Capital Management LLC (“Mason”) today issued the following statement in response to TELUS Corporation’s (TSX:T; TSX:T.A; NYSE: TU) withdrawal of its proposal to convert its non-voting shares into common shares on a one-for-one basis.
“We thank the many voting shareholders who voted against the proposal. Many have expressed that they paid a higher price for the rights and privileges that come with voting shares and believed that this proposal dilutes this valuable right without compensation. Genuinely good governance respects the rights and powers of all shareholders as defined by the articles of the Company. There is no reason to assume that Mason Capital will not be a long-term shareholder of TELUS.”
Mason Capital is a New York based investment fund with offices in New York, London and San Francisco and has been in business since 2000. Mason Capital has a long history of investing in Canada. It is the largest shareholder and is represented on the board of directors of ATS Automation Tooling Systems, a TSX-listed company.