3
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MONDAY, NOVEMBER 7, 1988
IN ORDER TO MAXIMISE THE FLEXIBILITY OF THE COMBINED OFFER, IS INTENDED THAT THE HONG KONG OFFER MAY BE INCREASED BY UP TO 20 CENT AND THE U.S. AND INTERNATIONAL OFFERS CORRESPONDINGLY REDUCED
APPLICATIONS FROM THE ORDER TO SATISFY IN WHOLE OR IN PART PUBLIC.
IT
PER
IN
GENERAL
CAPITAL OF AT PRESENT APPROXIMATELY 79 PER CENT OF THE ISSUED
APPROXIMATELY CWPLC,
11 PER HONG KONG TELECOM IS OWNED BY CWFE AND
IS OWNED BY THE CENT IS OWNED BY FSI AND APPROXIMATELY 10 PER CENT GENERAL PUBLIC.
STATED ON THE BASIS
ABOVE,
IMMEDIATELY AFTER THE COMBINED AGGREGATE APPROXIMATELY 76 PËR OFFER, CWPLC AND CWPE WOULD OWN IN
THE
OWN SHARE
WOULD CENT OF THE
GENERAL PUBLIC CAPITAL, APPROXIMATELY 17 PER CENT AND FSI WOULD OWN APPROXIMATELY 7 PER CENT.
ISSUED
AND SUBJECT TO CERTAIN LIMITED EXCEPTIONS, EACH OF THE VENDORS
HONG KONG CWPLC WILL AGREE NOT TO DISPOSE OF ANY FURTHER SHARES, AND TELECOM WILL AGREE NOT TO ISSUE ANY NEW SHARES, FOR MONTHS AFTER THE COMBINED OFFER.,
A PERIOD OF 15
PREFERENTIAL APPLICATION RIGHTS
THE VENDORS INTEND TO GIVE
THOSE SHAREHOLDERS OF HONG
KONG IN TELECOM (OTHER THAN CWPLC, CWFE AND FSI) WITH REGISTERED ADDRESSES
RIGHTS UNDER THE HONG HONG KONG ON NOVEMBER 29, 1988, PREFERENTIAL
FOR EVERY KONG OFFER TO APPLY AT THE OFFER PRICE FOR ONE OFFER SHARE TEN SHARES THEN HELD.
REQUIRE
ANY
THESE RIGHTS WILL BE
WILL AND NON-TRANSFERABLE APPLICANTS TO GIVE APPROPRIATE DECLARATIONS AS TO COMPLIANCE WITH APPLICABLE OVERSEAS LAWS.
RESPECT PREFERENTIAL RIGHTS ARE ALSO INTENDED TO BE GIVEN IN
HONG OF APPLICATIONS IN THE HONG KONG OFFER AT THE OFFER PRICE BY
TELECOM GROUP (OTHER THAN KONG RESIDENT EMPLOYEES OF THE HONG KONG DIRECTORS AND EMPLOYEES SECONDED FROM CWPLC) FOR BETWEEN APPROXIMATELY 42.5 MILLIOM AND 50 MILLION OFFER SHARES, BEING 10 HONG KONG OFFER.
PER CENT OF THE
FOR THE PURPOSES OF DETERMINING THE
THE RIGHTS THE BENEFIT OF THE PREFERENTIAL
ON NOVEMBER TELECOM WILL BE CLOSED AT 4 PM REOPENED ON NOVEMBER 30, 1988.
PROFIT FORECAST
SHAREHOLDERS ENTITLED TO REGISTER OF HONG KONG 24, 1988 AND WILL
BE
THE DIRECTORS OF
HONG KONG
TELECOM
ANNOUNCED
ON
THE
NOVEMBER 4, 1988 THAT THE PROFIT ATTRIBUTABLE TO SHAREHOLDERS FOR SIX MONTH PERIOD ENDED SEPTEMBER 30, 1988 WAS HK$1,723.0 MILLION. THEY ALSO ANNOUNCED AN INTERIM DIVIDEND OF HK$0.11 JANUARY 25, 1989.
PER SHARE PAYABLE
ON
/IN CONNECTION