TDC Proposes Cancellation of Treasury Shares
03 2월 2005 - 6:14PM
PR Newswire (US)
TDC Proposes Cancellation of Treasury Shares COPENHAGEN, Denmark,
Feb. 3 /PRNewswire-FirstCall/ -- Today, TDC has decided to propose
cancellation of treasury shares. Also, it has been decided to
abstain from bidding on Cesky Telecom. Based on a careful analysis,
TDC has decided to abstain from participation in the bidding
process that the Czech government has initiated concerning Cesky
Telecom. Further, TDC has decided to propose at the Annual General
Meeting on March 17, 2005, that the share capital in TDC A/S be
reduced by cancellation of a portion of the company's treasury
shares, in total DKK 90,421,815 of nominal value (18,084,363
shares), equal to 8.4 percent of the share capital. The share
capital following the reduction will be DKK 991,875,885
(198,375,177 shares). In connection with the reduction, the
Articles of Association, section 4.1, will be amended. The shares
covered by the proposed reduction stems from the shares purchased
from SBC in June 2004. Based on TDC's current holding of own
shares, TDC's holding of own shares following the proposed
reduction will amount to approximately 1.8 percent of the share
capital. The purpose of this shareholding is to hedge TDC's
employee share option programmes. For further information please
contact TDC Investor Relations at +45 3343 7680. DATASOURCE: TDC
A/S CONTACT: TDC Investor Relations, +45-3343-7680 Web site:
http://www.tdc.com/
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