TAIPEI, June 27 /Xinhua-PRNewswire-FirstCall/ -- Chunghwa Telecom Co., Ltd (TAIEX: 2412; NYSE: CHT) ("Chunghwa" or "the Company") today announced that its Board of Directors has approved a capital reduction of NT$19.1 billion for fiscal year 2008. From its existing capital surplus, the Company will issue and distribute a stock dividend of 1,911,555,382 common shares. In the first quarter next year, the Company will cancel the 1,911,555,382 newly issued outstanding common shares and distribute approximately NT$1.6 per share to its shareholders. All related procedures and timetables will be announced following shareholder approval of the proposal at the 2008 Extraordinary General Meeting, currently estimated to be held in August this year.
Changes in number of outstanding common shares:
Number of common shares
Current outstanding shares 9,557,776,914
-- Capital increase from earnings and
new share issuance* 139,031,269
-- Shares to be increased from capital
surplus 1,911,555,382
-- Shares to be cancelled (1,911,555,382)
Shares after 2008 capital reduction 9,696,808,183
* Approved at CHT’s AGM on June 19th, 2008.
** 1 ADS =10 shares
About Chunghwa Telecom
Chunghwa Telecom (TAIEX 2412; NYSE: CHT) is the leading telecom service provider in Taiwan. Chunghwa Telecom provides fixed line, mobile and Internet and data services to residential and business customers in Taiwan.
For inquiries:
Fu-fu Shen
Investor Relations
Tel: +886-2-2344-5488
Email: chtir@cht.com.tw
