News@CHS@nline
China Mobile (0941) owns 99.68% CR Peoples (0331)
2006/01/13 10:15
(Infocast News) China Mobile (0941) said as at 4:00 p.m. yesterday, it had received valid acceptances in respect of 741.295 million China Resources Peoples Telephone Company Limited (0331) shares under the share offer, representing approximately 99.68% of the issued Peoples and 310 Peoples options under the option offer, entitling the holders thereof to subscribe for 37.5 million Peoples shares representing approximately 63.79% of the total outstanding Peoples options as at the close of the offers.
As the level of acceptances has reached the prescribed level required for compulsory acquisition under the Companies Ordinance, China Mobile will exercise its rights to compulsorily acquire all those Peoples shares not already held or acquired by it, and then proceed to withdraw the listing of the Peoples shares from the Stock Exchange.
The companies said application has been made to the Stock Exchange for the withdrawal of the listing of the Peoples shares on the Stock Exchange upon completion of the compulsory acquisition, which is expected to be at the end of March.
Trading in the shares of Peoples has been suspended with effect from 9:30 a.m. today until withdrawal of the listing of the company following completion of the compulsory acquisition of the remaining issued shares by China Mobile.
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