City Telecom Announces Extension of Expiration Date of Its Cash Tender Offer and Consent Solicitation
August 20 2008 - 10:17AM
PR Newswire (US)
HONG KONG, Aug. 20 /PRNewswire-FirstCall/ -- City Telecom (H.K.)
Limited (the "Company", SEHK: 1137, Nasdaq: CTEL), a corporation
incorporated under the laws of Hong Kong, today announced that, in
connection with its previously announced tender offer (the "Offer")
to purchase for cash all of its outstanding 8.75% Senior Notes due
2015 (the "Notes") as well as the related consent solicitation (the
"Consent Solicitation") to amend the indenture governing the Notes,
it is extending the expiration date of the Offer to 8:00 a.m., New
York City time on October 1, 2008, unless further extended or
earlier terminated. On July 25, 2008, the Company announced it had
received tenders and consents from holders of a majority in
aggregate principal amount of the Company's outstanding Notes. HSBC
Securities (USA) Inc. is acting as Dealer Manager for the Offer and
as the Solicitation Agent for the Consent Solicitation and can be
contacted in New York at (888) HSBC-4LM (toll-free) or +1 (212)
525-5552 (collect), in Hong Kong at +852 2822-3071, in London at
+44 (20) 7991-5874 or via e-mail at . D.F. King & Co., Inc. is
the Information Agent and can be contacted at +1 (212) 269-5550
(for banks and brokers only) or (800) 628-8532 (toll free). Copies
of the Offer to Purchase and Consent Solicitation Statement and
other related documents may be obtained from the Information Agent.
The Offer to Purchase and Consent Solicitation are being made
solely on the terms and conditions set forth in the Offer to
Purchase and Consent Solicitation Statement. This communication is
for informational purposes only and is qualified by reference to
the Offer to Purchase and Consent Solicitation Statement. Under no
circumstances shall this press release constitute an offer to buy
or the solicitation of an offer to sell any securities of the
Company. This press release also is not a solicitation of consents
to the proposed amendments to the indenture. About City Telecom
(H.K.) Limited Established in 1992, City Telecom (H.K.) Limited
(SEHK:1137SEHK:Nasdaq: CTEL) provides integrated telecommunications
services in Hong Kong. City Telecom's wholly-owned subsidiary, Hong
Kong Broadband Network Limited (HKBN), is in the process of
expanding its Next Generation Network from approximately 1.4mn to
2.0mn homes pass. HKBN has achieved an aggregate Voice, Broadband
(symmetric 25Mbps up to 1Gbps), IP-TV and Corporate data services
base in excess of 726,000 subscriptions. Additional information on
City Telecom can be found at http://www.ctigroup.com.hk/.
DATASOURCE: City Telecom (H.K.) Limited CONTACT: Corporate
Communications, Jessie CHENG, +852-3145-4118, Fax, +852-2199-8372,
, or Investors Relations, Peggy CHAN, +852-3145-6068, Fax,
+852-2199-8655, Web site: http://www.ctigroup.com.hk/
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