BCE Inc. (BCE) Earnings Call Transcript & Summary

Ladies and gentlemen, [Foreign Language] Welcome to the webcast of the Special Meeting of Debentureholders of Bell Canada. [Foreign Language] The business of the meeting will be conducted in English and French. You may choose the language of the proceedings by selecting the English, French or live feed at the top right of your screen. [Foreign Language] I would now like to turn the call over to Curtis Millen. [Foreign Language] Please go ahead.

Thank you. [Foreign Language]

[Interpreted] Good morning. The Special Meeting of Debentureholders of Bell Canada will now begin.

The Special Meeting of Debentureholders of Bell Canada will now begin. [Foreign Language]

[Interpreted] My name is Curtis Millen, and I'm Senior Vice President, Corporate Strategy and Treasurer of Bell Canada.

Curtis Millen, and I'm Senior Vice President, Corporate Strategy and Treasurer of Bell Canada. Before we continue, I would like to describe the procedures for asking questions. [Operator Instructions] Okay. Pursuant to Section 9.0 [indiscernible] Trust Indenture, I've been nominated in writing by the trustee to be Chairman of the meeting and will act as Chairman. Martin Cossette, Bell Canada's Vice President, Legal and Corporate Secretary, will act as Secretary of the meeting. Finally, I appoint Zabrina Evangelista and Nazim Nathoo of TSX Trust Company as the scrutineers for the meeting. Okay. I've received an affidavit of a representative of TSX Trust Company as to the due mailing to debentureholders of the notice of meeting, consent and proxy solicitation statement and consent and proxy form for the meeting. I request that a copy of such materials, together with the affidavit be kept by the secretary with the records of the meeting. This special meeting of the debentureholders is hereby convened. I'm advised by the scrutineers that a quorum is in attendance, and I therefore declare the meeting to be duly called and properly constituted. The scrutineers' report will be provided to the secretary of the meeting and will be attached to the minutes of the meeting. For ease of moving the meeting along, I have asked the secretary to propose motions and I will second the motions. Okay. Before we continue, I would ask Martin to take us through the procedures for voting at the meeting.

Okay. Thank you, Mr. Chair. [Foreign Language]

[Interpreted] Thank you, Mr. Chair. Voting at today's meeting will be through the online portal only. The polls will close once the items submitted to a vote has been considered as described in the consent and proxy solicitation statement. Only registered debentureholder or their duly appointed proxy holder may vote during the meeting. In order to vote, registered debentureholders will need the 13-digit control number located on their consent and proxy form. And duly appointed proxy holders will need the 13-digit control number received from the tabulation agent. Please note that you do not need to vote at the meeting if you already voted by proxy or do not wish to change your vote. To vote, click on the Vote icon at the top of your screen. This will open a separate window with the voting portal. Once on the portal, log in using the 13-digit control number.

Okay. Today's only item of business is to consider and if thought advisable, approve an extraordinary resolution authorizing the amendments to the 1976 Indenture as described in the consent and proxy solicitation statement. The full text of the extraordinary resolution is set out in Exhibit A of the consent and proxy solicitation statement. [Foreign Language]

[Interpreted] I will ask Martin Cossette for a motion to approve the extraordinary resolution.

[Interpreted] Mr. Chair, I move that the extraordinary resolution set out in Exhibit A of the consent and proxy solicitation statement be approved.

The extraordinary resolution must be approved by not less than 66% and 2/3 percent of the principal amount of the debentures voting as a single class represented in person or by proxy at this meeting and voted on a poll upon such resolution. With each registered debentureholder and duly appointed proxy holder, please cast your vote as previously described, indicating whether you wish to vote for or against the extraordinary resolution. I'll remind you again that you do not need to vote at the meeting if you already voted by proxy and do not wish to change your vote. We will now take questions, if any, that relate to the business of this meeting in the previously described manner. Questions that relate to the same matter will, as needed, be answered concurrently. [Foreign Language] Martin, are there any questions related to this item of business?

No, Mr. Chair, we don't have any questions at this point.

Okay. Then we'll pause briefly for the casting of the votes. [Voting]

I've been advised of the preliminary results of the scrutineers' tabulation of today's votes, which show that the extraordinary resolution has been passed. The scrutineer's final report will be available after the meeting. As there is no further business to be conducted at this meeting, I declare the meeting concluded. Thank you very much for attending. [Foreign Language]. Have a good day.

Thank you. The conference has concluded. Please disconnect your lines at this time, and we thank you for your participation. [Portions of this transcript that are marked [Interpreted] were spoken by an interpreter present on the live call.]