True Corporation Public Company Limited [TRUE] has disclosed that, in response to news reports appearing in various media regarding the case in which China Mobile International Holdings Limited (China Mobile), a shareholder of the company, may have plans to divest all of the shares it holds in the company — representing a stake of 7.81% —
the company has notified the Stock Exchange that it has received confirmation from China Mobile that China Mobile has no intention whatsoever of divesting all of the shares it currently holds in the company. China Mobile is, however, in the process of considering the possibility of selling only a small portion of its shares in the company, as part of its routine investment portfolio management. Such consideration is subject to market conditions and other relevant factors, and is in no way attributable to factors relating to the company.
Furthermore, China Mobile has confirmed to the company that it continues to intend to remain a long-term shareholder of the company, viewing the company as an important strategic partner, and remains confident in the company's long-term growth potential, development, and positive business outlook.
The company expects that any potential sale of a small portion of shares by China Mobile will not have any material impact on the company's business direction, management, or operations in any way.
