20th Sep 2006 13:39
Telecom Egypt S.A.E20 September 2006 Telecom Egypt's Tender Offer Announcement Cairo, 20th September, 2006: Telecom Egypt (TE) (Ticker: ETEL.CA; TEEG.LN)announced the following: Tender offer for up to 58,560,000 shares representing 24.4% of Vodafone EgyptS.A.E shares in accordance with the rules stated in clauses 59 to 62 of theExecutive Regulations of the Egyptian Capital Markets Law Buyer's Name Telecom Egypt S.A.E Buyer's Description A wire line and wireless communications company Number of Shares Currently Telecom Egypt S.A.E owns 61,200,000 shares in Vodafone Egypt S.A.E representing Owned and Percentage Ownership 25.5% of Vodafone Egypt's S.A.E share capital Number and Percentage of Shares 58,560,000 shares representing 24.4% of the Vodafone Egypt's S.A.E issued shareRequested for Tender and their capital. Vodafone Egypt's shares are nominal shares that have been fully paidDescription Information Regarding the Company whose Shares are Requested for Tender: Company's Name Vodafone Egypt S.A.E Listing and Central Depositary Listed & DepositedStatus Conditions for Execution: Tender Offer Price LE 100 (one hundred Egyptian Pounds) per share in accordance with Clause 62 of the Executive Regulations of the Egyptian Capital Markets Law Tender Offer Period Sell orders can be received and registered for one week starting from the day following the tender offer announcement published in Al Ahram, Al Akhbar and Al Alam Al Youm newspapers. Shareholders who want to tender their shares should place sell orders with any of the brokerage firms during the Tender Offer Period Minimum Number of Shares to be A minimum of 24,000,000 shares representing 10% of Vodafone Egypt's issuedAccepted by Buyer share capital. Telecom Egypt S.A.E can waive this condition at its sole discretion Execution Date The transaction will be executed on the Cairo and Alexandria Stock Exchange after the expiry of a two week period starting from the date that is one day following the publication of this tender offer and before the expiry of three weeks from that same date Buyer's Undertakings Telecom Egypt S.A.E undertakes to buy all of the shares that will be tendered while taking into consideration the minimum number of shares that will be accepted by the Buyer - Ends - For further information: Investor Relations Contacts Tarek Tantawy, CFA Director of Investment, Treasury & Investor Relations Telephone: +202 5788111 Fax: +202 5789314 Eman Anis Investor Relations Manager Telephone: +202 5788787 Fax: +202 5789314 E-mail: [email protected] Notes to Editors: About Telecom Egypt Telecom Egypt (TE), Egypt's incumbent telecommunications operator, started itsoperations in 1854 with the first telegraph line in Egypt. Then it wascorporatized in 1998 to replace the former Arab Republic of Egypt NationalTelecommunication Organization (ARENTO). The Company is the largest provider offixed-line services in the Middle East and Africa with 10.6 million subscribersas at the end of June 2006 representing a teledensity of 14.8 percent. TEprovides retail telecommunication services including access, local, longdistance and international voice, Internet and data, and other services. Thecompany also provides wholesale services including bandwidth capacity leasing toISPs, and national and international interconnection services. Telecom Egypt'sservices also include the provision of narrowband and broadband internet accessthrough its subsidiary TE Data. TE Data has current operations in Egypt, Jordan,and Dubai and has ambitious plans in other parts of the MENA region. TE currently participates in the mobile segment in Egypt by providing mobileinterconnectivity and though its current 25.5 percent holding in Vodafone Egypt,one of the two Egyptian mobile operators. TE's shares and GDRs (Ticker: ETEL.CA; TEEG.LN) are traded on the Cairo andAlexandria Stock Exchanges and the London Stock Exchange. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Telecom Egypt S