Proposal to Privatise Hutchison Telecom International Sanctioned and Expected to become Effective on 25/5/2010 and AGM on 26/5/2010 to be Cancelled
By Hutchison Whampoa Limited Hutchison Telecommunications International, PRNESaturday, May 22, 2010
HONG KONG, May 24, 2010 - Hutchison Whampoa Limited and Hutchison Telecommunications International
Limited ("HTIL") today jointly announced that the proposal to privatise HTIL
was sanctioned by the Grand Court of the Cayman Islands on 21 May 2010
(Cayman Islands time). The proposal is expected to become effective on 25 May
2010 when the remaining conditions are expected to be fulfilled.
If the privatisation proposal becomes effective, HTIL's securities are
expected to be delisted from the Stock Exchange of Hong Kong tomorrow and
from the New York Stock Exchange on 4 June 2010 (New York time). The Annual
General Meeting of HTIL, originally convened for 26 May 2010, will (as
previously noted) be cancelled.
Cautionary Statements
This press release contains forward-looking statements. Statements that
are not historical facts, including statements about the beliefs and
expectations of HWL and HTIL, are forward-looking statements. These
statements are based on current plans, estimates and projections, and
therefore you should not place undue reliance on them. Forward-looking
statements speak only as of the date they are made, and each of HWL and HTIL
undertakes no obligation to update publicly any of them in light of new
information or future events. Forward-looking statements involve inherent
risks, uncertainties and assumptions. Each of HWL and HTIL cautions you that
if these risks or uncertainties ever materialise or the assumptions prove
incorrect, or if a number of important factors occur or do not occur, actual
results may differ materially from those expressed or implied in any
forward-looking statement. Additional information as to factors that may
cause actual results to differ materially from each of HWL and HTIL's
forward-looking statements can be found in each of HWL and HTIL's filings
with the US Securities and Exchange Commission.
This press release appears for information purposes only and does not
constitute an invitation or offer to acquire, purchase or subscribe for
securities of the Offeror, HWL or HTIL nor is it a solicitation of any vote
or approval in any jurisdiction. This press release also does not constitute
any solicitation or recommendation under rules and regulations of the US
Securities and Exchange Commission.
For media enquiries, please contact: Hans Leung Hutchison Whampoa Tel: +852-2128-1363 Fax: +852-2128-1766 Email: hansl@hwl.com.hk Ada Yeung Hutchison Telecom International Tel: +852-2128-3106 / +852-6347-0619 Fax: +852-2187-2087 Email: adayeung@htil.com.hk
Hans Leung, Hutchison Whampoa, +852-2128-1363, Fax +852-2128-1766, hansl at hwl.com.hk; Ada Yeung, Hutchison Telecom International, +852-2128-3106 or +852-6347-0619, Fax +852-2187-2087, adayeung at htil.com.hk
Tags: Asia, Hong Kong, Hutchison Whampoa Limited; Hutchison Telecommunications International, May 24, United Kingdom