COPENHAGEN, Denmark, April 26, 2001 (PRIMEZONE) -- Yesterday, after the close of business, the Annual General Meeting of TDC (Tele Danmark Communications A/S)(NYSE:TLD) approved the Company's 2000 Financial Statements, as presented in the Annual Report. In addition, the AGM adopted the proposal put forward by the Board of Directors for the distribution of net income for fiscal 2000.
Dividend of DKK 10.50 will be paid per share of a nominal value of DKK 5.
The following members of the Board of Directors were re-elected by the General Meeting: Knud Heinesen (Chairman), Larry Boyle, Niels Heering, William B. McCullough, Rick L. Moore, and Erik Sprunk-Jansen. The following new members of the Board of Directors were elected: Lloyd Kelley (Vice-Chairman) and Drew Roy.
The following members of the Board of Directors have been re-elected by the employees: Leif Hartmann, Steen Jacobsen, Bo Stenor Larsen, and Bo Magnussen.
Price Waterhouse Coopers and Ernst & Young were re-elected as state-authorized public accountants in TDC A/S.
The AGM approved that Tele Danmark changes its name to "TDC A/S." As a consequence hereof, the name will be amended in Article 1(1), Article 5(3, 5, 6 and 9-11), and Article 14(2) of the Articles of Association. Furthermore, it is proposed that Article 1(2) of the Articles of Association is amended as follows: "The Company also conducts business under the secondary name Tele Danmark Communications A/S (TDC A/S)."
Further, the AGM approved that "business within services, directories and media" also is stated in the objects clause of Article 3(1) of the Articles of Association, just as business within telecommunications is amended to "business within communications." The wording of Article 3(1) of the Articles of Association is hereinafter as follows: "The objects of the Company are to conduct business within communications, services, directories and media, investment, financing, advisory services, trade and any other related business, whether in Denmark or abroad, if appropriate in the form of joint ventures with other Danish or foreign-based companies."
The AGM also approved an authorization to the Board of Directors - until the next Annual General Meeting - to let the company acquire own shares at a nominal value of up to 10 percent of the share capital in accordance with section 48 of the Danish Companies Act. The Board of Directors also has an authorization to issue new shares up to 10% of the nominal share capital until 22 April 2004.
TDC, formerly Tele Danmark, is a Danish-based European communication solutions provider organized as seven main business units; TDC Tele Danmark, TDC Mobile International, TDC Internet, TDC Switzerland, TDC Cable TV, TDC Services, and TDC Directories A/S. TDC is the leading provider of communications services in Denmark, the second largest communications provider in Switzerland and holds significant interests in a range of communications companies across Northern and Continental Europe. TDC was privatized in 1994. Today SBC Communications owns 41.6% of the shares and the remainder are held by individual and institutional shareowners all over the world.
TDC Listings Shares: Copenhagen Stock Exchange. Reuters TLD.CO. Bloomberg TLD DC. Nominal value DKK 5. SIN DK00-1020242-3. SEDOL 4889874. ADS's: New York Stock Exchange One ADS represents half of one ordinary share Reuters TLD.N. Bloomberg TLD US. SEC 1-12998. Half of one ordinary share. CUSIP 879242105. SEDOL 2883094.