Feb 15 (Reuters) - Shaw Communications Inc SJRb.TO :
* SHAW COMMUNICATIONS COMPLETES FIRST PHASE OF TOTAL BUSINESS TRANSFORMATION INITIATIVE
* SHAW COMMUNICATIONS - ABOUT 3,300 EMPLOYEES ELECTED TO PARTICIPATE IN A VOLUNTARY DEPARTURE PROGRAM , WHICH REPRESENTS 25% OF CO'S TOTAL WORKFORCE
* SHAW COMMUNICATIONS -REGARDING BUSINESS TRANSFORMATION ACTIVITIES TO-DATE,INCLUDING VDP,EXPECTS TO INCUR RESTRUCTURING CHARGE OF ABOUT $450 MILLION IN Q2
* SHAW COMMUNICATIONS - SEES ANNUALIZED SAVINGS RELATED TO VOLUNTARY DEPARTURE PROGRAM TO BE ABOUT $225 MILLION, TO BE FULLY REALIZED IN FISCAL 2020