TELUS Corp Amends Ownership Filing for TELUS International

TL;DR

TELUS Corp filed an update on its stake in TELUS International. Keep an eye on this.

AI Summary

TELUS Corporation filed an amendment (No. 2) to its Schedule 13D on September 26, 2024, concerning TELUS International (Cda) Inc. The filing indicates a change in beneficial ownership of the Subordinate Voting Shares. The specific details of the change in ownership, including the exact number of shares and the percentage of ownership, are not fully detailed in the provided text but represent an update to their previous filing.

Why It Matters

This filing signals a potential shift in control or significant stake changes for TELUS International, which could impact its stock performance and strategic direction.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D often indicate significant changes in beneficial ownership, which can lead to stock volatility.

Key Players & Entities

• TELUS Corporation (company) — Filing entity
• TELUS International (Cda) Inc. (company) — Subject company
• September 26, 2024 (date) — Filing date
• September 24, 2024 (date) — Date of event

FAQ

Key Financial Figures

• $21,470,893.47 — 13D for an aggregate purchase price of $21,470,893.47. Item 4. Purpose of Transaction This
• $4.24 — 6, 2024 Open market purchase 500,000 $4.24 1276435 BC LTD August 7, 2024 Open
• $4.17 — 7, 2024 Open market purchase 500,000 $4.17 1276435 BC LTD August 8, 2024 Open
• $4.13 — 8, 2024 Open market purchase 289,678 $4.13 1276435 BC LTD August 9, 2024 Open
• $4.16 — 9, 2024 Open market purchase 416,400 $4.16 1276435 BC LTD August 13, 2024 Open
• $4.20 — 3, 2024 Open market purchase 367,500 $4.20 1276435 BC LTD August 14, 2024 Open
• $4.32 — 4, 2024 Open market purchase 126,500 $4.32 1276435 BC LTD August 15, 2024 Open
• $4.63 — 5, 2024 Open market purchase 393,100 $4.63 1276435 BC LTD August 16, 2024 Open
• $4.75 — 6, 2024 Open market purchase 200,000 $4.75 1276435 BC LTD August 19, 2024 Open
• $4.73 — 20, 2024 Open market purchase 8,400 $4.73 1276435 BC LTD August 21, 2024 Open
• $4.74 — 1, 2024 Open market purchase 300,000 $4.74 1276435 BC LTD August 22, 2024 Open
• $4.84 — 2, 2024 Open market purchase 100,000 $4.84 1276435 BC LTD August 23, 2024 Open
• $4.82 — 3, 2024 Open market purchase 100,000 $4.82 1276435 BC LTD August 26, 2024 Open
• $4.96 — 26, 2024 Open market purchase 30,798 $4.96 1276435 BC LTD August 29, 2024 Open
• $4.87 — 9, 2024 Open market purchase 100,000 $4.87 1276435 BC LTD September 5, 2024 Op

Filing Documents

• ss3915570_sc13da.htm (SC 13D/A) — 97KB
• 0000947871-24-000775.txt ( ) — 99KB

Security and Issuer

Item 1. Security and Issuer This Amendment No. 2 (this " Amendment No. 2 ") to Schedule 13D amends and supplements the Statement on Schedule 13D filed by the Reporting Person with the SEC on May 26, 2023 (the " Original Schedule 13D ", as amended by Amendment No. 1 filed with the SEC on February 16, 2024). This Amendment No. 2 relates to the Subordinate Voting Shares of TELUS International (Cda) Inc., a corporation organized under the laws of British Columbia, Canada (the " Issuer "), with its principal executive offices located at Floor 5, 510 West Georgia Street, Vancouver, BC V6B 0M3. Capitalized terms used in this Amendment and not otherwise defined shall have the same meanings ascribed to them in the Original Schedule 13D. This Amendment No. 2 is being filed to report that the percentage of Subordinate Voting Shares that the Reporting Person may be deemed to beneficially own increased by more than 1% as a result of the transactions described in Item 5(c) below.

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration This Amendment amends and restates

of the Original Schedule 13D in its entirety as set forth below

Item 3 of the Original Schedule 13D in its entirety as set forth below: The Reporting Person used cash from the working capital of one or more of its wholly-owned subsidiaries to make the open market purchases of Subordinate Voting Shares described under Item 5 to this Schedule 13D for an aggregate purchase price of $21,470,893.47.

Purpose of Transaction

Item 4. Purpose of Transaction This Amendment further amends and supplements Item 4 of the Original Schedule 13D by inserting the following after the final paragraph: Subordinate Voting Shares were acquired by wholly-owned subsidiaries of the Reporting Person through a series of open market purchases for the purpose of making an investment in the Issuer. The Reporting Person from time to time intends to review its investment in the Issuer on the basis of various factors, including the Issuer's business, financial condition, results of operations and prospects, general economic and industry conditions, the securities markets in general and those for the Issuer's Subordinate Voting Shares in particular, as well as other developments and other investment opportunities. Based upon such review, the Reporting Person will take such actions in the future as the Reporting Person may deem appropriate in light of the circumstances existing from time to time. Except as set forth in this Schedule 13D (including the Original Schedule 13D), the Reporting Person has not formulated any plans or proposals which relate to or would result in: (a) the acquisition by any person of additional securities of the Issuer or the disposition of securities of the Issuer, (b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries, (c) a sale or transfer of a material amount of the assets of the Issuer or any of its subsidiaries, (d) any change in the present Issuer Board or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board, (e) any material change in the Issuer's capitalization or dividend policy of the Issuer, (f) any other material change in the Issuer's business or corporate structure, (g) any change in the Issuer's charter or bylaws or other instrument corresponding thereto or other action which may impede the a

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer This Amendment amends and restates the third, fourth and fifth paragraphs of Item 5 of the Original Schedule 13D in its entirety as set forth below: The calculation of the percentage of Subordinate Voting Shares outstanding beneficially owned by the Reporting Person or a Schedule I Person, as the case may be, is based upon 110,088,448 outstanding Subordinate Voting Shares of the Issuer and 164,381,876 outstanding Multiple Voting Shares of the Issuer as of March 21, 2024 , as reported by the Issuer in the 6-K. As of September 25, 2024, the Reporting Person beneficially owned an aggregate of 6,174,822 Subordinate Voting Shares and 152,004,019 Multiple Voting Shares, which together represent approximately 60.4% of the outstanding shares of Subordinate Voting Shares, calculated assuming conversion of all Multiple Voting Shares owned or acquired by the Reporting Person into Subordinate Voting Shares. All such Subordinate Voting Shares and Multiple Voting Shares are held by 1276431 B.C. Ltd., 1276433 B.C. Ltd., 1276435 B.C. Ltd., 1276436 B.C. Ltd. and TELUS International Holding Inc., each a wholly-owned subsidiary of the Reporting Person. (c) Except as reported below, the Reporting Person has not effected any transactions during the past 60 days in any Subordinate Voting Shares or Multiple Voting Shares. Buyer Date of Transaction Transaction Number of Subordinate Voting Shares Price Per Subordinate Voting Share 1276435 BC LTD August 6, 2024 Open market purchase 500,000 $4.24 1276435 BC LTD August 7, 2024 Open market purchase 500,000 $4.17 1276435 BC LTD August 8, 2024 Open market purchase 289,678 $4.13 1276435 BC LTD August 9, 2024 Open market purchase 416,400 $4.16 1276435 BC LTD August 13, 2024 Open market purchase 367,500 $4.20 1276435 BC LTD August 14, 2024 Open market purchase 126,500 $4.32 1276435 BC LTD August 15, 2024 Open market purchase 393,100 $4.63 1276435

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View this SC 13D/A filing on SEC EDGAR