Pursuant to Rule 13a-16 or 15d-16 of the
1069 - 300 Lisboa, Portugal
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
| RELEASE |  |
Share Capital Reduction from Euro 1,467,513,450
to Euro 395,099,775
Lisbon, Portugal, 12 September 2006 – Portugal Telecom announced, under the terms and for the purposes set forth in paragraph g) of number 1 of article 2 of CMVM Regulation no 4/2004, that:
| 1. |
As resolved in the General Meeting held on 21 April 2006 and further authorised by the Judicial Commercial Court of Lisbon, PT has executed on 11 September 2006 the public deed for its share capital reduction, in the amount of Euro 1,072,413,675 for
the release of excess capital through the creation of free reserves in the same amount and, as a result, its share capital is currently of Euro 395,099,775. |
| 2. |
The referred share capital reduction has been executed through a reduction in the par value of all shares representing the share capital of PT, with the par value of each share becoming 0.35 Euros. |
| 3. |
This operation has already been registered with the Commercial Registry of Lisbon. |
| 4. |
The share capital reduction above mentioned and consequently the reduction of the nominal value of all the shares representing PT’s share capital will be concluded with the Central de Valores Mobiliários (the stock exchange’s
clearinghouse) on 21 September 2006. The trading of PT shares on the stock exchange with the new nominal value will take place as from 18 September 2006. |
This information is also available on PT’s IR website http://ir.telecom.pt.
| Contact: | Nuno Prego, Investor Relations Director | |
| nuno.prego@telecom.pt | ||
| Portugal Telecom | ||
| Tel: +351 21 500 1701 | ||
| Fax: +351 21 500 0800 | ||
| Portugal Telecom is listed on the Euronext and New York Stock Exchanges. Information may be accessed on the Reuters under the symbols PTC.LS and PT and on Bloomberg under the symbol PTC PL. |
|
PORTUGAL TELECOM, SGPS, S.A.
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| By: |
/S/
Nuno Prego
| |
|
Nuno Prego
Investor Relations Director
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This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.