HONG KONG, May 12, 2010 /PRNewswire/ -- Hutchison Whampoa
Limited ("HWL") and Hutchison Telecommunications International
Limited ("HTIL") today jointly announced that the independent HTIL
shareholders have approved the proposal to privatise HTIL put
forward by the HWL group (the "Scheme"). The effectiveness of the
proposal is subject to fulfilment of the remaining conditions
including obtaining sanction from the Grand Court of the
Cayman Islands.
Subject to the Scheme becoming effective, the last day for
dealing in the HTIL shares on the Stock Exchange of Hong Kong ("SEHK") is 17 May 2010 and the halt of trading in the HTIL
ADSs on the New York Stock Exchange ("NYSE") is 17 May 2010 (New York Time). HTIL's securities
are expected to be delisted from the SEHK on 25 May 2010 and from the NYSE on 4 June 2010 (New
York time).
For further details, please refer to the documents issued in
relation to the Scheme as posted on the websites of HWL and HTIL at
http://www.hutchison-whampoa.com and http://www.htil.com
respectively.
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