Published: August 20, 2008
City Telecom Announces Extension of Expiration Date of Its Cash Tender Offer and Consent Solicitation
HONG 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. 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: 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
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