UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF
1934
August 31, 2012
Commission File Number: 000-30354
CITY TELECOM
(H.K.) LIMITED
(Translation of registrants name into English)
13th Floor
Trans Asia Centre
18 Kin Hong Street
Kwai Chung
New Territories
Hong Kong
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
x
Form 20-F
¨
Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(7):
¨
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:
¨
Yes
x
No
If Yes is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): n/a
City Telecom (H.K.) Limited (the Company) is furnishing under cover of Form 6-K an announcement
dated August 31, 2012 relating to the voluntary announcement of the Company.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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CITY TELECOM (H.K.) LIMITED
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By:
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/s/ Wong Wai Kay, Ricky
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Name: Wong Wai Kay, Ricky
Title: Executive Director and Chairman
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Dated: August 31, 2012
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no
responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the
contents of this announcement.
CITY TELECOM (H.K.) LIMITED
(Incorporated in Hong Kong with limited liability under the Companies Ordinance)
(Stock Code: 1137)
VOLUNTARY ANNOUNCEMENT
This announcement is made by City Telecom (H.K.) Limited (the
Company and together with its subsidiaries, the Group) on a voluntary basis in order to provide shareholders with further information on its proposed treasury activities.
As disclosed in the announcement of the Company dated 30 May 2012, completion of the disposal of its telecommunication business took place on that
day. Thereafter, in late June 2012, the special dividend of approximately HK$2,022.54 million was made to shareholders. Following payment of the special dividend, the remainder of the sale proceeds will be used to fund the continuing development and
expansion of the Groups multimedia business, as disclosed in the Companys circular dated 2 May 2012. Pending such use of the funds, the board of directors of the Company (the
Board
) has considered ways to manage
the Groups surplus cash assets.
Consistent with the overall objectives of the Companys established treasury policy, the Company
has been in discussions with a few top-tier financial institutions to provide professional investment advice to the Company to undertake treasury management activities with respect to its surplus cash assets. The Company currently anticipates that
such professional investment advice will include, among other things, monitoring market developments and significant corporate events, providing information to the Company on market opportunities, assessing the Companys risks and exposure to
different sectors and issuers, providing tailored investment advice and solutions to the Company, assisting to monitor the Companys portfolio and executing trade orders at the Companys instructions.
The Company has set up an investment committee comprising Mr. Wong Wai Kay, Ricky, an executive director and the chairman of the Board,
Mr. Cheung Chi Kin, Paul, an executive director and the vice chairman of the Board, Ms. Wong Nga Lai, Alice, an executive director and the chief financial officer of the Company and Mr. Peh Jefferson Tun Lu, an independent
non-executive director of the Company. The investment committee will consider and assess the professional investment advice provided by the various financial institutions, make investment decisions, monitor the Companys investment portfolio,
undertake periodic reviews on the performance of the investments and ensure that the Companys investments will be made and maintained in accordance with the Companys treasury policy.
1
According to the Companys established treasury policy, the criteria for selection of investments will
include the relative risk profile involved, the liquidity of an investment and the after tax equivalent yield of an investment. None of these investments will be speculative in nature.
Accordingly, it is currently anticipated that the Companys investment portfolio will consist of mostly time or call deposits with banks, government bonds, corporate bonds and other similar
instruments as well as some equity stocks with high dividend yields. As and when cash is expected to be required to fund the continuing development and expansion of the multimedia business, the investments will be realized as appropriate. Consistent
with its liquidity objectives, the Company currently expects to invest mostly in liquid instruments, products or equities, such as investment grade products, constituent stocks of Hang Seng Indexes or state owned or controlled companies.
The Board believes that treasury management activities for surplus cash from time to time are normal and ordinary course for all business operations, and
are in the best interest of the Company and its shareholders as a whole.
Shareholders and potential investors of the Company are advised
to exercise caution when dealing in the Companys securities.
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By order of the Board
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City Telecom (H.K.) Limited
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Wong Wai Kay, Ricky
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Chairman
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Hong Kong, 31 August 2012
As at the date of this announcement, the executive Directors are Mr. Wong Wai Kay, Ricky (Chairman), Mr. Cheung Chi Kin, Paul (Vice Chairman), Ms. To Wai Bing (Chief Executive Officer)
and Ms. Wong Nga Lai, Alice (Chief Financial Officer), the non-executive Director is Dr. Cheng Mo Chi, Moses and the independent non-executive Directors are Mr. Lee Hon Ying, John, Dr. Chan Kin Man and Mr. Peh Jefferson Tun
Lu.
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