Table:
|  | As at December 31 |  |
| --- | --- | --- |
|  | 2019 | 2018 |
| Common shares outstanding 1 |  |  |
| Class A Voting | 111,154,811 | 111,155,637 |
| Class B Non-Voting | 393,770,507 | 403,657,038 |
| Total common shares | 504,925,318 | 514,812,675 |
| Options to purchase Class B |  |  |
| Non-Voting Shares |  |  |
| Outstanding options | 3,154,795 | 2,719,612 |
| Outstanding options exercisable | 993,645 | 1,059,590 |
Paragraphs:
OUTSTANDING COMMON SHARES
1 Holders of our Class B Non-Voting Shares are entitled to receive notice of and to attend shareholder meetings; however, they are not entitled to vote at these meetings except as required by law or stipulated by stock exchanges. If an offer is made to purchase outstanding Class A Shares, there is no requirement under applicable law or our constating documents that an offer be made for the outstanding Class B Non-Voting Shares, and there is no other protection available to shareholders under our constating documents. If an offer is made to purchase both classes of shares, the offer for the Class A Shares may be made on different terms than the offer to the holders of Class B Non-Voting Shares.
As at February 29, 2020, 111,154,811 Class A Shares, 393,770,507
Class B Non-Voting Shares, and 3,145,274 options to purchase
Class B Non-Voting Shares were outstanding.
Question:
How are the terms of purchase structured in case both the classes of shares are to be purchased?
Answer: If an offer is made to purchase both classes of shares, the offer for the Class A Shares may be made on different terms than the offer to the holders of Class B Non-Voting Shares.