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04 May 2012
Information on a change of percentage share in Netia’s share capital (35/2012)
WARSAW, Poland. Netia SA (“Netia”) (WSE: NET), Poland’s largest alternative provider of fixed-line telecommunications services, announced that on May 4, 2012 it received a notification from Third Avenue Management LLC (the “Fund”), acting on behalf of its clients, that ownership of Netia’s shares held by the Fund on behalf of its clients has decreased by more than 2% of the total number of votes at the general meeting of Netia shareholders.
According to the notification, the aforementioned decrease of the ownership resulted from t
(i) the sale transactions conducted by the Fund from the date of the last notification sent to the Company (see Current Report No. 10/2012 dated March 9, 2012), which by themselves did not result in the obligation of the Fund to notify the Company of the decrease in ownership of the Company’s shares; and
(ii) the issuance by the Company of additional shares as a result of exercise by the entitled persons of the rights from the options granted by the Company in the course of a Company’s stock option plan, which jointly with the abovementioned sale transactions resulted in the decrease of ownership by the Fund of the total number of votes at the general meeting of Netia shareholders by more than 2%.
At present Third Avenue Management LLC holds 61,168,227 Netia shares, representing 15.84% of Netia’s share capital and entitling the holder thereof to exercise 61,168,227 votes, which represents 15.84% of the total number of votes at the general meeting of Netia shareholders.
Prior to the sale transactions described above, the Fund held 69,988,577 Netia shares, which represented 17.87% of Netia’s share capital and was entitled to 69,988,577 votes, representing 17.87% of the total number of votes at the general meeting of Netia shareholders.
The Fund has made the notification acting as an entity entitled to exercise the voting rights from the shares in the Company on behalf of the following clients of the Fund: (i) AIC Corporate Fund Inc.; (ii) Litman/Gregory Masters’ Selected International Fund Masters’ Selected Funds Trust; (iii) Third Avenue Separately Managed Accounts; (iv) Third Avenue Institutional International Value Fund; (v) Third Avenue International Value Fund; and (vi) Third Avenue International Value Fund UCITS.
According to the notification, the aforementioned decrease of the ownership resulted from t
(i) the sale transactions conducted by the Fund from the date of the last notification sent to the Company (see Current Report No. 10/2012 dated March 9, 2012), which by themselves did not result in the obligation of the Fund to notify the Company of the decrease in ownership of the Company’s shares; and
(ii) the issuance by the Company of additional shares as a result of exercise by the entitled persons of the rights from the options granted by the Company in the course of a Company’s stock option plan, which jointly with the abovementioned sale transactions resulted in the decrease of ownership by the Fund of the total number of votes at the general meeting of Netia shareholders by more than 2%.
At present Third Avenue Management LLC holds 61,168,227 Netia shares, representing 15.84% of Netia’s share capital and entitling the holder thereof to exercise 61,168,227 votes, which represents 15.84% of the total number of votes at the general meeting of Netia shareholders.
Prior to the sale transactions described above, the Fund held 69,988,577 Netia shares, which represented 17.87% of Netia’s share capital and was entitled to 69,988,577 votes, representing 17.87% of the total number of votes at the general meeting of Netia shareholders.
The Fund has made the notification acting as an entity entitled to exercise the voting rights from the shares in the Company on behalf of the following clients of the Fund: (i) AIC Corporate Fund Inc.; (ii) Litman/Gregory Masters’ Selected International Fund Masters’ Selected Funds Trust; (iii) Third Avenue Separately Managed Accounts; (iv) Third Avenue Institutional International Value Fund; (v) Third Avenue International Value Fund; and (vi) Third Avenue International Value Fund UCITS.