BCE/GLENTEL -- summary under Shares for Shares or Cash

Overview

BCE will acquire GLENTEL under a CBCA Plan of Arrangement for cash or shares, at the GLENTEL shareholder's option, but with the overall consideration fixed at $295.4 million cash and BCE shares equal to 0.4974 of a BCE common share multiplied by 50% of the outstanding GLENTEL common shares. Both a s. 85.1 rollover (for those receiving only shares) and a s. 85 rollover (for those receiving a mixture) is available.

Vector/20-20 -- summary under Shares for Shares or Cash

Cash purchase

Proposed Quebec plan of arrangement under which holders of shares of TSX-listed 20-20 (valued at $75 million), other than Mignault Holding Inc. ("Mignault"), would receive $4 per share in cash (for an estimated 28% premium). Vector Capital Corporation is a private equity firm.

Provision for break fee of $3 million on specified 20-20 termination. Vector is to pay $4.5 million to 20-20 if there is a specified financing failure.

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