Hong Kong, 16 November 2005 – Comba Telecom Systems Holdings Limited (‘Comba’ or the ‘Company’; stock code: 2342), China’s No.1 integrated wireless solutions and sub-systems provider, announced today that, for the reasons mentioned below, the Company may exercise its power to repurchase its issued shares by utilising up to HK$50 million.
Comba considers that its recent share price performance does not reflect the intrinsic value of the Company, however, it offers the Company an opportunity to repurchase part of its issued shares at an attractive valuation. The Company will repurchase its issued shares at such time and at such prices as the Company considers to be beneficial to the long-term interests of its shareholders. Comba believes that the share repurchase(s), if any, will be in the interests of its shareholders as a whole.
Mr. Fok Tung Ling, Chairman and Managing Director of the Company, said, “The Company may repurchase its issued shares to vote our confidence in the future of Comba and to enhance shareholder value. We are confident of the business opportunity and growth potential that will be brought forth by the granting of 3G licenses in the PRC in the foreseeable future. By leveraging our leading position and R&D capabilities, we are well positioned to capture the immense potential in 3G, international and core equipment manufacturer markets. Capitalizing on the launch of new and comprehensive wireless solutions, we are committed to bringing higher value to customers and creating fruitful returns to our shareholders.”
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