Press release from CNW Group
Manitoba Telecom Services Inc. Holds 2013 Annual General Meeting of Shareholders
Thursday, May 09, 2013
Manitoba Telecom Services Inc. Holds 2013 Annual General Meeting of Shareholders13:32 EDT Thursday, May 09, 2013
Company celebrates MTS's 25th anniversary as Manitoba's leading wireless provider
Stock Symbol: MBT
WINNIPEG, May 9, 2013 /CNW/ - Manitoba Telecom Services Inc. (the "Company" or "MTS Allstream"), today told shareholders at its annual meeting that 2012 was another year of progress in delivering on its strategies. Held at The Fort Garry Hotel in Winnipeg, the meeting included the election of the board of directors and presentations by Chair, David Leith and Chief Executive Officer, Pierre Blouin about the Company's strategies and results.
"MTS Allstream generated a strong 15.1% total shareholder return in 2012," said Chief Executive Officer Pierre Blouin. "We met all our financial targets and reached our cost reduction objective for the eighth consecutive year. MTS solidified its position as the undisputed leader in the Manitoba market through its focus on offering advanced products and services, and leveraging its past network investments and deep brand strengths in Manitoba. Allstream accelerated its transition towards being a pure IP provider for Canadian businesses through its strategy of fibre network expansion and providing the best customer experience in our industry."
In his remarks, Mr. Blouin acknowledged Allstream's best IP sales quarter ever in Q4 2012 which included one of its largest IP wins, Shared Services Canada, making Allstream the largest telecommunications data provider for the federal government. For MTS, he said the division's unrivalled network coverage, extensive distribution channels and unparalleled bundle offerings continue to generate revenue growth in MTS's strategic product lines of wireless, IPTV and Internet. Mr. Blouin also noted that MTS Allstream plans to build on its 2012 results by continuing to focus on its proven strategies, as well as achieving operational efficiencies and improvements to its cost structure and cash flows.
"With the majority of our strategic investments to our networks now in place, we can begin the work of harvesting the financial benefits of these investments with a focus on generating improved free cash flow," said Mr. Blouin.
At the meeting, shareholders and guests also celebrated MTS's 25th anniversary as Manitoba's leading wireless provider. MTS continues to lead the wireless market in the province, having launched Manitoba's first 4G LTE wireless network in 2012.
The Company's returning directors were Pierre J. Blouin, Jocelyne M. Côté-O'Hara, N. Ashleigh Everett, The Honourable Gary A. Filmon, Gregory J. Hanson, Kishore Kapoor, David G. Leith, H. Sanford Riley, D. Samuel Schellenberg and Carol M. Stephenson.
Also at today's meeting, the Company held its second annual advisory vote on executive compensation, or "say on pay". The Company and its board of directors were pleased that the resolution was approved by approximately 95% of the Company's shareholders.
Deloitte LLP was reappointed as the auditors of the Company. Additional information on the business of the meeting is contained in the Company's Management Proxy Circular, which was filed on April 4, 2013. Shareholders received this year's Circular via new "Notice and Access" rules, which permits MTS Allstream to issue its Circular and Annual Report digitally. The Company is proud to be one of the first companies in Canada to take advantage of this new method. Approximately 500 trees and more than 17 million litres of fresh water will be saved through this initiative.
For more information on the annual general meeting and a copy of the Chair's and CEO's remarks, visit the Investors section of www.mtsallstream.com.
Manitoba Telecom Services Inc. (MTS Allstream)
MTS Allstream is one of Canada's leading national communication solutions companies, providing innovative communications for the way Canadians live and work today. The company has more than 100 years of experience, with 5,500 employees across Canada. MTS Allstream's business is dynamic and consists of two operating divisions. In Manitoba, MTS is the leading full-service telecommunications provider for residential and business customers. MTS's suite of services include the latest in wireless technology, broadband services, IPTV, voice services, home security, and an extensive range of business solutions. Across Canada, Allstream is a leader in IP communications and is the only national provider that focuses exclusively on the business telecommunications market. MTS Allstream has nearly two million customer connections spanning business customers across Canada and residential consumers throughout the province of Manitoba. The Company's extensive national fibre optic network spans more than 30,000 kilometres. MTS Allstream has spent 12 consecutive years on the Jantzi Social Index for leadership in social responsibility and is the recipient of the 2011 Governance Gavel Award from the Canadian Coalition for Good Governance, recognizing clear and effective public disclosure and leading governance practices. MTS Allstream's common shares are listed on the TSX (trading symbol: MBT). Customers, stakeholders and investors who want to learn more about MTS Allstream are encouraged to visit: www.mtsallstream.com For more information about MTS's products and services, please visit www.mts.ca. For more information about Allstream's products and services, please visit www.allstream.com.
Forward-looking Statements Disclaimer
This news release includes forward-looking statements and information (collectively, the "statements") about the Company's corporate direction, business opportunities, operations, financial objectives and future financial results and performance that are subject to risks, uncertainties and assumptions. As a consequence, actual results in the future may differ materially from any conclusion, forecast or projection in such forward-looking statements. Therefore, forward-looking statements should be considered carefully and undue reliance should not be placed on them. Examples of statements that constitute forward-looking information may be identified by words such as "believe", "expect", "project", "should", "anticipate", "could", "target", "forecast", "intend", "plan", "outlook", "see", "set", "pending", and other similar terms.
Factors that could cause anticipated opportunities and actual results to differ materially include, but are not limited to, matters identified in the "Material assumptions" section below, the "Risks and uncertainties" section, elsewhere in the Company's 2012 Annual MD&A and 2012 Annual Information Form, all of which are available on SEDAR at www.sedar.com.
Please note that forward-looking statements reflect Management's expectations as of today. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: MTS Allstream
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