Holders take up CCT shares

CCT Telecom said two key shareholders have subscribed for shares after an agreement last year that they would take up an underwriting obligation for the company's rights issue. The company said Suffold Resources had subscribed for 50 million shares at $1 each while Jing Xiou Corp, a window company of Xinhua news agency, subscribed for 200 million at $1 each. CCT Telecom also said an extraordinary general meeting held yesterday backed a share capital restructuring through a bonus share issue and stock consolidation. The subscription prices for this year's and next year's warrants would be adjusted.