Bulletin
Netia announces proposed resolutions for Extraordinary General Meeting of Shareholders on March 27, 2002
WARSAW, Poland - March 20, 2002 - Netia Holdings S.A. (the "Company" or "Netia") (Nasdaq: NTIAQ, WSE: NET) today announced the proposed resolutions to be adopted by the Company's Extraordinary General Meeting of Shareholders on March 27, 2002.
As previously announced by Netia, the proposed resolutions concern, among other things, a conditional increase of the Company's share capital by up to PLN 83,222,437 through the issuance of ordinary bearer series "J" shares, with the aim of facilitating the issuance of warrants to existing shareholders (up to 64,848,652), as well as a stock option plan for Netia's key employees (up to 18,373,785). In accordance with the terms of the Restructuring Agreement, dated March 5, 2002, the Company will not allocate more than 5% of its post-restructuring share capital, before the issuance of warrants, to this stock option plan.
These proposed resolutions are the result of the terms of the Restructuring Agreement, as announced previously, and are subject to the approval of Netia's Supervisory Board. Prior to the Shareholders' Meeting on March 27, 2002, Netia's Management Board will present an opinion of the Supervisory Board on these issues.
Some of the information contained in this news release contains forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements as a result of various factors. For a more detailed description of these risks and factors, please see the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 20-F filed with the Commission on April 30, 2001, its Current Report on Form 6-K filed with the Commission on May 15, 2001, its Current Report on Form 6-K filed with the Commission on August 7, 2001, its Current Report on Form 6-K filed with the Commission on November 6, 2001, and its Current Report on Form 6-K filed with the Commission on January 18, 2002. The Company undertakes no obligation to publicly update or revise any forward-looking statements.