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 1,467,513,45 to Euro 395,099,775
Lisbon, Portugal, 30 June 2006 – Portugal Telecom, SGPS, S.A., for the purposes of CMVM Regulation no 4/2004, hereby transcribes the notice received from the Commercial Court of Lisbon (“Tribunal do Comércio de Lisboa”) in the process of share capital reduction resolved at the General Meeting of Shareholders held on 21 April 2006:
“It is hereby announced that it was filed before the 1st Judicial Commercial Court of Lisbon, the process for a Court Authorisation for Share Capital Reduction, with the number 637/06.4TYLSB, which has been delivered to the Court and distributed on 8 June 2006, in which Portugal Telecom, SGPS, S.A., a listed company, with registered office at Avenida Fontes Pereira de Melo, number 40, Lisbon, registered with Lisbon Commercial Registry and corporation number 503215058, with a share capital of Euro 1,467,513,450, is the petitioner.
It is also hereby announced that, pursuant to article 167º of the Companies Code, at the general meeting of shareholders of the petitioner, held on 21 April 2006, it was resolved that the share capital in the amount of Euro 1,467,513,450 shall be reduced to the amount of Euro 395,099,775, for the release of excess capital in the amount of Euro 1,072,413,675, being the Chairman of the Board of Directors empowered to proceed with all the acts and formalities necessary for the referred purpose, namely to, solely, execute the public deed of share capital reduction.
All dissident shareholders and creditors are hereby notified to within the period of 30 days as from the date of the publication of the announcement in the internet site www.mj.gov.pt/publicacoes and in the local newspaper, effect their opposition to the reduction – article 1487º of the Civil Action Code (“Código do Processo Civil”).”
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. |
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PORTUGAL TELECOM, SGPS, S.A.
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| By: |
/S/
Nuno Prego
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Nuno Prego
Investor Relations Director
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