Key Developments: Manitoba Telecom Services Inc (MBT.TO)

MBT.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Manitoba Telecom Services Inc CEO Pierre Blouin To Retire in 2014
Tuesday, 12 Aug 2014 06:30am EDT 

Manitoba Telecom Services Inc:Pierre Blouin plans to retire as the Company's Chief Executive Officer later this year.Board commenced a CEO search and expects to announce Blouin's successor in advance of Blouin's retirement date in order to ensure a seamless and orderly transition.  Full Article

Manitoba Telecom Services Inc sees FY 2014 guidance at low end of prior range
Thursday, 31 Jul 2014 06:45am EDT 

Manitoba Telecom Services Inc:Says that revenues, EBITDA and EPS are trending at low end of FY 2014 financial guidance provided on Nov. 7, 2013.  Full Article

Manitoba Telecom Services declares quarterly cash dividend
Thursday, 31 Jul 2014 06:45am EDT 

Manitoba Telecom Services Inc:Declares quarterly cash dividend of $0.425 per share for the third quarter of 2014.Payable on Oct. 15 to shareholders of record at the close of business on Sept. 15.  Full Article

Manitoba Telecom Services Inc announces debt offering
Wednesday, 21 May 2014 04:01pm EDT 

Manitoba Telecom Services Inc:Issues $225 mln in medium term notes (MTNs) with ten-year term maturing on May 27, 2024, and coupon of 4.00 percent.Offering of MTNs, which is being made through a syndicate of investment dealers co-led by BMO Capital Markets and RBC Capital Markets, is expected to close on May 26, 2014.Net proceeds from the issuance of the MTNs will be used to repay existing indebtedness and for general corporate purposes.  Full Article

Manitoba Telecom Services declares quarterly dividend
Tuesday, 13 May 2014 06:30am EDT 

Manitoba Telecom Services Inc:Declares a quarterly cash dividend of $0.425 per share for second quarter.Payable on July 15 to shareholders of record at the close of business on June 16.  Full Article

Manitoba Telecom Services Inc updates FY 2014 revenue guidance and reaffirms FY 2014 EBITDA guidance - Conference Call
Thursday, 6 Feb 2014 10:00pm EST 

Manitoba Telecom Services Inc:Expects FY 2014 revenue guidance is between C$1.6-C$1.7 bln.Expects FY 2014 EBITDA will be in the range of C$580-C$620 mln.FY 2014 revenue of C$1.6 and EBITDA of C$605 - Thomson Reuters I/B/E/S.  Full Article

Manitoba Telecom Services Inc declares quarterly cash dividend for Q1 FY 2014
Wednesday, 5 Feb 2014 07:00pm EST 

Manitoba Telecom Services Inc:Declares a quarterly cash dividend of $0.425 per share for the first quarter of 2014.Says dividend payable on Apr. 15 to shareholders of record at the close of business on Mar. 14.  Full Article

Manitoba Telecom Services Inc announces change of auditors for 2014
Monday, 23 Dec 2013 06:18pm EST 

Manitoba Telecom Services Inc:Says its existing auditors, Deloitte LLP is expected to formally resign as auditor on completion of the audit and related filings for the company's financial year ended Dec. 31.Ernst & Young LLP is then expected be formally appointed as auditor to fill the resulting vacancy.  Full Article

Manitoba Telecom Services Inc Upsizes Bought Deal Financing to Approximately $249 Million of Common Shares
Tuesday, 19 Nov 2013 05:32pm EST 

Manitoba Telecom Services Inc announced that it has upsized the previously announced "bought deal" financing agreement to 8,855,000 common shares of the Company ("Common Shares") to be issued at a purchase price of $28.10 per Common Share, for gross proceeds of $248,825,500 (the "Offering"). There will be no over-allotment option on the Offering. The net proceeds from the Offering will be approximately $238 million, determined after deducting the underwriters' commission but prior to expenses of the Offering. The Company intends to use the net proceeds from the Offering to fulfill future pension funding obligations (including prefunding its solvency deficit and other potential future pension liabilities) and for general corporate purposes. The Offering is scheduled to close on or about December 6, 2013.  Full Article

Manitoba Telecom Services Inc Announces Bought Deal Offering Of $200 Million Of Common Shares
Tuesday, 19 Nov 2013 03:39pm EST 

Manitoba Telecom Services Inc announced that it has entered into a bought deal financing agreement with a syndicate of underwriters, led by CIBC and Scotiabank, under which the underwriters have agreed to purchase from the Company and sell to the public 7,150,000 common shares of the Company (Common Shares) at a purchase price of $28.10 per Common Share (the Offering Price), for gross proceeds of $200,915,000 (the Offering). The Company has also granted the underwriters an over-allotment option (the "Over-Allotment Option") to purchase up to a further 1,072,500 Common Shares at the Offering Price, solely to cover their over-allocation position, if any. The Over-Allotment Option will be exercisable in whole or in part, at the sole discretion of the underwriters, at any time until and including 30 days following the closing of the Offering. The net proceeds from the Offering will be approximately $193 million, determined after deducting the underwriters' commission but prior to expenses of the Offering. In the event that the Over-Allotment Option is exercised in full, the net proceeds to be received by MTS Allstream will be approximately $222 million, determined after deduction of the underwriters' commission but prior to expenses of the Offering. The Company intends to use the net proceeds from the Offering to fulfill future pension funding obligations (including prefunding its solvency deficit and other potential future pension liabilities) and for general corporate purposes.  Full Article

Manitoba Telecom CEO to retire later this year

TORONTO, Aug 12 - Manitoba Telecom Services Inc (MTS) said on Tuesday its long-time chief executive officer Pierre Blouin plans to retire from his post later this year.

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