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09 March 2012
Information on change of percentage share in Netia's share capital (10/2012)
WARSAW, Poland – March 9, 2012 – Netia SA (“Netia”) (WSE: NET), Poland’s largest alternative provider of fixed-line telecommunications services, announced that it received a notification filed on behalf of Third Avenue International Value Fund (the “Fund”), one of the entities whose assets are managed by Third Avenue Management LLC, that ownership of Netia’s shares, held by the Fund on behalf of its clients, has increased above 10% of the total number of votes at Netia’s General Meeting of Shareholders.
According to the notification, the abovementioned increase of the ownership resulted from the fact of the District Court in Warsaw registering, in the National Court Register, on January 30, 2012, a decrease of share capital of the Company. The number of cotes from the Company shares held by the Fund in relation to the total number of votes in the Company expressed in percentage, exceeded 10% of the total votes in the Company without any change in the number of Company shares or votes held by the Fund. The Fund became aware of the percentage change in its holding in the total votes in the Company resulting from the of the Company share capital on March 7, 2012.
As of March 8, 2012, Third Avenue International Value Fund holds 38,601,902 Netia shares, representing 10.11% of Netia’s share capital and entitling the holder thereof to exercise 38,601,902 votes, which represents 10.11% of the total number of votes at Netia’s General Meeting of Shareholders.
Prior to the above change, Third Avenue International Value Fund held 38,601,902 Netia shares, which represented 9.86% of Netia’s share capital and was entitled to 38,601,902 votes, representing 9.86% of the total number of votes at Netia’s General Shareholder Meeting.
The Fund does not heave subsidiaries which hold Company shares.
Moreover, the Fund informed that it does not exclude the possibility of further acquisition of the Company shares during the 12 month period following notification filing. However, in undertaking a decision on further acquisition of the Company shares the Fund will be guided by economic considerations and the goal of achieving maximum profit for its investment. The possibility of the Fund to acquire further shares of the Company will also depend on their market price.
In addition, Netia informs that the last notification by Third Avenue Management LLC, which referred to holdings of Netia shares by clients of Third Avenue Management LLC, including the Fund, was filed on December 16, 2011 (see current report No. 77/2011). In accordance with the above notification, as of December 14, 2011 the clients of Third Avenue Management LLC, including the Fund, held 69,988,577 Netia shares entitling the holder thereof to exercise 69,988,577 of votes at Netia's General Shareholders Meeting.
According to the notification, the abovementioned increase of the ownership resulted from the fact of the District Court in Warsaw registering, in the National Court Register, on January 30, 2012, a decrease of share capital of the Company. The number of cotes from the Company shares held by the Fund in relation to the total number of votes in the Company expressed in percentage, exceeded 10% of the total votes in the Company without any change in the number of Company shares or votes held by the Fund. The Fund became aware of the percentage change in its holding in the total votes in the Company resulting from the of the Company share capital on March 7, 2012.
As of March 8, 2012, Third Avenue International Value Fund holds 38,601,902 Netia shares, representing 10.11% of Netia’s share capital and entitling the holder thereof to exercise 38,601,902 votes, which represents 10.11% of the total number of votes at Netia’s General Meeting of Shareholders.
Prior to the above change, Third Avenue International Value Fund held 38,601,902 Netia shares, which represented 9.86% of Netia’s share capital and was entitled to 38,601,902 votes, representing 9.86% of the total number of votes at Netia’s General Shareholder Meeting.
The Fund does not heave subsidiaries which hold Company shares.
Moreover, the Fund informed that it does not exclude the possibility of further acquisition of the Company shares during the 12 month period following notification filing. However, in undertaking a decision on further acquisition of the Company shares the Fund will be guided by economic considerations and the goal of achieving maximum profit for its investment. The possibility of the Fund to acquire further shares of the Company will also depend on their market price.
In addition, Netia informs that the last notification by Third Avenue Management LLC, which referred to holdings of Netia shares by clients of Third Avenue Management LLC, including the Fund, was filed on December 16, 2011 (see current report No. 77/2011). In accordance with the above notification, as of December 14, 2011 the clients of Third Avenue Management LLC, including the Fund, held 69,988,577 Netia shares entitling the holder thereof to exercise 69,988,577 of votes at Netia's General Shareholders Meeting.