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ARFCF: AlarmForce Shareholders may receive, as elected, in respect of each AlarmForce Share held, either: (a) a cash amount of $16.00; or (b) such number of common shares in the capital of BCE (the “BCE Shares”) equal to the sum of the quotient of (i) $16.00 divided by (ii) the 20-day volume weighted average price of the BCE Shares on the TSX ending on the fifth business day prior to the effective date of Arrangement, plus $0.01 in cash, subject to proration and rounding.