Chunghwa Telecom Believes That the Intended Repurchase Of Shares is Unlikely to Take Place Before the End of 2003
12 12월 2003 - 3:00PM
PR Newswire (US)
Chunghwa Telecom Believes That the Intended Repurchase Of Shares is
Unlikely to Take Place Before the End of 2003 TAIPEI, Taiwan,
December 12 /PRNewswire/ -- Chunghwa Telecom Co., Ltd. (TAIEX:
2412, NYSE: CHT) announces today that the intended repurchase of 7%
to 10% of its total outstanding shares is unlikely to take place
before the end of 2003. CHT continues to be committed to
distributing excess cash to its shareholders, as a means of
improving capital efficiency and returns for shareholders. CHT
intends to continue to explore means of effecting a share
repurchase and in its absence will seek to maintain the historical
cash dividend payout ratio of approximately 90% of its annual net
income. About Chunghwa Telecom Chunghwa Telecom (TAIEX: 2412, NYSE:
CHT) is the leading telecom service provider in Taiwan. Chunghwa
Telecom provides fixed line services, mobile services and Internet
and data services to residential and business customers in Taiwan.
Note Concerning Forward-looking Statements Except for statements in
respect of historical matters, the statements made in this press
release contain 'forward-looking statements" within the meaning of
Section 27A of the U.S. Securities Act of 1933 and Section 21E of
the U.S. Securities Exchange Act of 1934. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause the actual performance, financial condition
or results of operations of CHT to be materially different from
what may be implied by such forward- looking statements. Investors
are cautioned that actual events and results could differ
materially from those statements as a result of a number of factors
including, among other things: extensive regulation of state owned
enterprises by the ROC government and extensive regulation of
telecom industry; the intensely competitive telecom industry; CHT's
relationship with its labor union; general economic and political
conditions, including those related to the telecom industry;
possible disruptions in commercial activities caused by natural and
human induced events and disasters, including terrorist activity,
armed conflict and highly contagious diseases, such as SARS; and
those risks identified in the section entitled 'Risk Factors' in
CHT's Form F-1 filed with the U.S. Securities and Exchange
Commission in connection with its U.S. initial public offering. The
forward-looking statements in this press release reflect CHT's
current belief as of the date of this press release and CHT
undertakes no obligation to update these forward-looking statements
for events or circumstances that occur subsequent to such date.
CONTACT: Fu-fu Shen, Investor Relations of Chunghwa Telecom Co.,
Ltd. Tel: +886-2-2344-5488 Email: ffshen@cht.com.tw DATASOURCE: PR
Newswire (New York) CONTACT: Fu-fu Shen, Investor Relations,
+886-2-2344-5488, or ffshen@cht.com.tw, for Chunghwa Telecom Co.,
Ltd. (CHT)
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