By Hutchison Telecom Press Release
The board of directors (the “Board”) of Hutchison Telecommunications International Limited (the “Company”) has noted a newspaper article appearing in The South China Morning Post today speculating that the Company may seek a spin-off and separate listing of its telecommunications businesses in Hong Kong and Macau. The Board is not aware of the source of the information in the newspaper article. The Board regularly considers various ways of enhancing shareholder value, which may include the possible spin-off and separate listing of certain of the Company's telecommunications businesses. However, whilst the Company and its advisers are in advanced discussions concerning a possible spin-off and separate listing of the Company's Hong Kong and Macau telecommunications businesses by way of distribution in specie not involving any raising of new capital, no decision has been made by Board up to the date of this announcement.
The Company confirms that there are no negotiations or agreements relating to intended acquisitions or realisations which are discloseable under Rule 13.23 of The Rules Governing the Listing of Securities on the Stock Exchange (the “Listing Rule”), neither is the Board aware of any matter discloseable under the general obligation imposed by Listing Rule 13.09, which is or may be of a price sensitive nature.
A further announcement will be made as soon as the matter is subject to a decision by the Board. In the meantime, the Company's shareholders and investors generally should exercise caution when dealing in the Company's securities.
Made by the order of the Board, the directors of which individually and jointly accept responsibility for the accuracy of this announcement.
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