U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
40-F
Check One
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Registration Statement Pursuant to Section 12 of the Securities Exchange Act of 1934
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Annual Report Pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934
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For the fiscal year ended August 31, 2017
Commission File Number:
001-14684
Shaw
Communications Inc.
(Exact name of Registrant as specified in its charter)
N/A
(Translation of Registrants name into English (if applicable))
Alberta, Canada
(Province or other jurisdiction of incorporation or organization)
4841
(Primary Standard Industrial Classification
Code Number (if applicable))
N/A
(I.R.S. Employer Identification Number (if
applicable))
Suite 900, 630 3
rd
Avenue S.W., Calgary, Alberta, Canada T2P 4L4
(403)
750-4500
(Address and telephone number of
Registrants principal executive offices)
CT Corporation System, 111 Eighth Avenue, 13
th
Floor, New York, NY 10011 (212)
894-8940
(Name, address (including zip code) and
telephone number (including area code of agent for service in the United States)
Securities registered or to be registered pursuant to
Section 12(b) of the Act.
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Title of each class
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Name of each exchange on which registered
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Class B
Non-Voting
Participating Shares
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New York Stock Exchange
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Securities registered or to be registered pursuant to Section 12(g) of the Act.
None
(Title of Class)
Securities for
which there is a reporting obligation pursuant to Section 15(d) of the Act.
5.65% Senior Notes due 2019
5.50% Senior Notes due 2020
3.15% Senior Notes due 2021
4.35% Senior Notes due 2024
3.80% Senior Notes due 2027
6.75% Senior Notes due 2039
(Title of Class)
For annual reports, indicate by check mark the information filed with this Form:
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Annual information
form
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Audited annual financial statements
The following are the number of outstanding shares of each of the issuers classes of capital or
common stock as of August 31, 2017:
Class A Participating Shares - 22,420,064 issued and outstanding
Class B
Non-Voting
Participating Shares - 474,350,861 issued and outstanding
Preferred Shares, Series A - 10,012,393 issued and outstanding
Preferred Shares, Series B - 1,987,607 issued and outstanding
Indicate by check mark whether
the Registrant (1) has filed all reports required to be filed by Section 13 of 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has
been subject to such filing requirements for the past 90 days.
Yes
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No
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Indicate by
check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation
S-T
(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit and post such files).
Yes
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No
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DISCLOSURE CONTROLS AND PROCEDURES
Shaw Communications Inc. (the Company) has designed disclosure controls and procedures (as defined in
Rule 13a-15(e)
under the Exchange Act) to ensure that material information relating to the Company, including its consolidated subsidiaries, is made known to the Chief Executive Officer and Chief
Financial Officer by others within the Company, including its consolidated subsidiaries, on a regular basis, including during the period in which the Companys Annual Report on Form
40-F
relating to
financial results for the fiscal year ended August 31, 2017 is being prepared. The Chief Executive Officer and Chief Financial Officer have evaluated the effectiveness of the disclosure controls and procedures as of the end of the period
covered by this report. Based on the evaluation, the Chief Executive Officer and Chief Financial Officer have concluded, as of that evaluation date, that the Companys disclosure controls and procedures were effective to ensure that the
material information relating to the Company (including its consolidated subsidiaries) required to be included in the Companys periodic filings under the Exchange Act, was (i) recorded, processed, summarized and reported within the time
periods specified in Securities and Exchange Commission rules and forms and (ii) accumulated and communicated to the Companys management, including its Chief Executive Officer and Chief Financial Officer, to allow timely decisions
regarding required disclosure.
MANAGEMENTS ANNUAL REPORT ON INTERNAL CONTROLS
See page 62 of Exhibit 2.
AUDITOR ATTESTATION
See page 64 of Exhibit 2.
2
CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING
During the fiscal year ended August 31, 2017, there were no significant changes in the Companys internal controls over financial reporting, or in other
factors that could significantly affect such internal controls, that have materially affected, or are reasonably likely to materially affect, the Companys internal control over financial reporting.
IDENTIFICATION OF THE AUDIT COMMITTEE
The Company has a standing audit committee of the board of directors
(the Audit Committee) established in accordance with Section 3(a)(58)(A) of the Exchange Act. The Audit Committee consists of Michael W. OBrien (Chair), Richard R. Green and Jeffrey C. Royer.
AUDIT COMMITTEE FINANCIAL EXPERT
The board of directors of the Company has determined that it has two audit
committee financial experts serving on its Audit Committee. Each of Michael W. OBrien and Jeffrey C. Royer has been determined to be such an audit committee financial expert, within the meaning of Item 407 of Regulation
S-K.
Each of Mr. OBrien and Mr. Royer is independent, as that term is defined by the New York Stock Exchanges listing standards applicable to the Company. The Securities and Exchange Commission
has indicated that the designation of each of Mr. OBrien and Mr. Royer as an audit committee financial expert does not make either of Mr. OBrien and Mr. Royer an expert for any purpose, impose any duties,
obligations or liability on either of Mr. OBrien and Mr. Royer that are greater than those imposed on members of the Audit Committee and board of directors of the Company who do not carry this designation, or affect the duties,
obligations or liabilities of any other member of the Audit Committee.
PRINCIPAL ACCOUNTANT FEES AND SERVICES
The aggregate amounts paid or accrued by the Company with respect to fees payable to Ernst & Young LLP, the auditors of the Company, for
audit (including separate audits of wholly-owned and
non-wholly
owned entities, financings, regulatory reporting requirements and Sarbanes-Oxley
Act-related
services),
audit-related, tax and other services in the fiscal years ended August 31, 2017 and 2016 were as follows:
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Type of Service
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Fiscal 2017
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Fiscal 2016
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Audit Fees
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$
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3,569,000
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$
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4,424,000
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Audit-Related Fees
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$
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416,000
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$
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519,000
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Tax Fees
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$
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651,000
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$
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1,326,000
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Total
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$
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4,636,000
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$
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6,269,000
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Audit-related fees for fiscal 2017 relate to service organization control reports for the Companys data centres that were
disposed of during the year, assurance services in respect of an environmental and regulatory report, and financing arrangements and for fiscal 2016 relate to service organization control reports for the Companys data centres, assurance
services in respect of an environmental report, and financing arrangements. The tax fees for fiscal 2017 relate to tax advisory services on dispositions, financing arrangements, linear property tax compliance, and general tax advisory services and
for fiscal 2016 relate to tax advisory services on acquisitions, dispositions, financing arrangements, linear property tax compliance, and general tax advisory services.
The Audit Committee considered and agreed that the above fees are compatible with maintaining the independence of the Companys auditors. Further, the Audit Committee determined that, in order to ensure the
continued independence of the auditors, only limited
non-audit
services will be provided to the Company by Ernst & Young LLP and in such case, only with the prior approval of the Audit Committee. The
Chair of the Audit Committee has been delegated authority to approve the retainer of
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Ernst & Young LLP to provide
non-audit
services in extraordinary circumstances where it is not feasible or practical to convene a meeting of the
Audit Committee, subject to an aggregate limit of $150,000 in fees payable to Ernst & Young LLP for such services at any time until ratified by the Audit Committee. The Chair of the Audit Committee is required to report any such services
approved by him to the Audit Committee.
For the fiscal year ended August 31, 2017, none of the services described above were approved by the Audit
Committee pursuant to the
de minimus
exception set forth in Rule
2-01,
paragraph (c)(7)(i)(C) of Regulation
S-X.
CODE OF ETHICS
The Company has adopted a code of ethics (the Business Conduct Standards) that
applies to all employees and officers, including its Chief Executive Officer, Chief Financial Officer, principal accounting officer and persons performing similar functions. A copy of the Business Conduct Standards, as amended, is available on the
Companys website. To access the Business Conduct Standards, visit the Companys website at
www.shaw.ca
and select Investor Relations, then select Corporate Governance and then select Business Conduct
Standards. Except for the Business Conduct Standards, no information contained on the Companys website shall be incorporated by reference in this Form
40-F.
OFF-BALANCE
SHEET ARRANGEMENTS
The Company has no
off-balance
sheet arrangements as defined in General Instruction B(11) to Form
40-F.
TABULAR DISCLOSURE OF CONTRACTUAL
OBLIGATIONS
See page 60 of Exhibit 1.
UNDERTAKING AND CONSENT TO SERVICE OF
PROCESS
The Company undertakes to make available, in person or by telephone, representatives to respond to inquiries made by the Commission staff,
and to furnish promptly, when requested to do so by the Commission staff, information relating to: the securities registered pursuant to Form
40-F;
the securities in relation to which the obligation to file an
annual report on Form
40-F
arises; or transactions in said securities.
The Company has previously filed a Form
F-X
in connection with each class of securities to which the obligation to file this Form
40-F
arises. Any change to the name and address of the agent for service of process
shall be communicated promptly to the Commission by amendment to Form
F-X.
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SIGNATURES
Pursuant to the requirements of the Exchange Act, the registrant certifies that it meets all of the requirements for filing on Form
40-F
and has duly caused this Form
40-F
to be signed on its behalf by the undersigned, thereto duly authorized.
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SHAW COMMUNICATIONS INC.
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By:
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/s/ Vito Culmone
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Vito Culmone
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Executive Vice President & Chief Financial Officer
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Dated: November 28, 2017
5
EXHIBITS
The following documents are filed as exhibits to this Form
40-F:
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Exhibit
Number
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Document
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1.
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Managements Discussion and Analysis of the financial condition and operations for the year ended August 31, 2017.
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2.
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Audited consolidated statements of financial position as at August 31, 2017 and 2016 and statements of income, statements of comprehensive income, statements of changes in
shareholders equity and statements of cash flows for the years ended August 31, 2017 and 2016, together with the notes thereto and the auditors report thereon.
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3.
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Annual Information Form for the fiscal year ended August 31, 2017.
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4.
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Consent of Ernst & Young LLP.
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5.
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Certifications of the Chief Executive Officer and Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 dated November 28, 2017.
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6.
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Certifications of the Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 dated November 28, 2017.
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