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City Telecom Announces Extension of Expiration Date of Its Cash Tender Offer and Consent SolicitationHONG KONG, Aug. 20 /PRNewswire-FirstCall/ -- City Telecom (H.K.) Limited (the "Company", SEHK: 1137, Nasdaq: CTEL), a corporation incorporated under the laws ofHong 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), inHong
Kong at +852 2822-3071, inLondon at +44 (20) 7991-5874 or via e-mail at
liability.management@hsbcib.com. 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: 1137, Nasdaq: CTEL) provides integrated telecommunications services inHong 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 www.ctigroup.com.hk. SOURCE City Telecom (H.K.) Limited Tags: ,TLS,CPR,CSE,TNM,City-Telecom-announce _ _     Is your favorite bookmark site missing? Ask for it. |
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