Bulletin
Appointment of a new management board member; share options under a key employee stock option plan (38/2009)
WARSAW, Poland – August 4, 2009 – Netia SA (“Netia” or the “Company”) (WSE: NET), Poland’s largest alternative provider of fixed-line telecommunications services announced that today its supervisory board appointed Mr. Grzegorz Esz as member of the management board and Chief Commercial Director, effective October 1, 2009.
In addition, on August 4, 2009 Netia’s Supervisory Board granted to Mr. Esz 4,166,500 stock options authorizing him to subscribe for series K shares in accordance with the Netia Performance Stock Option Plan of June 28, 2002, as amended (see the press release of April 11, 2003). These options will be granted as October 1, 2009.
The table below presents the key data concerning the dates of vesting of the stock options and their strike prices:
Strike price | Number of stock options | Vesting date |
|---|---|---|
| 4.25 PLN | 666,500 | 1 October 2010 r. |
| 4.25 PLN | 1,000,000 | 1 December 2011 r. |
| 5.50 PLN | 300,000 | 31 March 2010 r. |
| 5.50 PLN | 350,000 | 30 September 2010 r. |
| 5.50 PLN | 350,000 | 15 February 2011 r. |
| 7.00 PLN | 150,000 | 31 March 2010 r. |
| 7.00 PLN | 225,000 | 30 September 2010 r. |
| 7.00 PLN | 375,000 | 15 February 2011 r. |
| 8.25 PLN | 150,000 | 31 March 2010 r. |
| 8.25 PLN | 225,000 | 30 September 2010 r. |
| 8.25 PLN | 375,000 | 15 February 2011 r. |
Total: 4,166,500 |
The options shall expire on December 20, 2012.
Under the terms of the Netia Stock Option Plan, where options are exercised at a market price above the relevant strike price, the participant receives a number of shares equivalent to the value of the difference.
Mr. Grzegorz Esz, 37, served from 2007 as Vice President of Polskie Przedsiębiorstwo Wydawnictw Kartograficznych SA (PPWK), a company publicly listed on the Warsaw Stock Exchange.
From 2006 to 2007 he was employed at MTS, the largest mobile operator in Russia, as Chief Marketing Officer and Vice President Marketing. He was responsible for, among others, marketing strategy, branding, product and CRM, with a budget of USD 6 billion under management.
In 2005 he worked at Bank BPH in Poland as Managing Director, Retail Division, being responsible for product development and marketing of all consumer products.
From 1997 to 2005 he work at Polska Telefonia Cyfrowa Sp. z o.o., the largest mobile operator in Poland operating under the Era brand. At that time, he was responsible for, among others, developing the concept and full commercial launch of a new pre-paid service under the HEYAH brand. The positions at which he served during his term there include Managing Director HEYAH (from 2003 to 2005), Deputy Chief Marketing Officer (from 2002 to 2005) and Director of Sales and Logistics Department (1999-2000).
Mr. Esz graduated with distinctions in Marketing and Management from the Warsaw University of Technology. He also holds an Executive MBA diploma from the London Business School.
He does not conduct directly or through legal entities any activities that would compete with the activities of Netia or its subsidiaries. He is not a partner in civil law company or any partnership, nor a member of any authorities of any corporation or any other competitive legal entity. He has not been registered in the Non-Solvent Debtors Register kept pursuant to the National Court Register Act.