Bulletin
Netia’s share capital as of August 1, 2003
WARSAW, Poland – August 8, 2003 – Netia S.A. (“Netia”, formerly Netia Holdings S.A.) (WSE: NET), Poland’s largest alternative provider of fixed-line telecommunications services today announced its share capital has increased in connection with the exercise of certain Netia warrants.
I. Share Capital. As of August 1, 2003, Netia’s issued and outstanding share capital was PLN 344,212,769 representing 344,212,769 shares, PLN 1 par value per share, each share giving right to one vote at Netia’s general meeting of shareholders. A motion for the registration of the share capital increase by the Polish court was filed on August 8, 2003.
II. Warrants Issued. As of August 1, 2003, Netia issued 167,557 series J shares pursuant to the exercise of 96,700 two-year subscription warrants and 70,857 three-year subscription warrants by their holders at an issue price of PLN 2.53 per share. Each series J share entitles its holder to one vote at Netia’s general meeting of shareholders. Netia’s series J shares are publicly traded on the Warsaw Stock Exchange (“WSE”) under the same code as all other ordinary shares of Netia i.e. PLNETIA00014. The subscription warrants were exercised in accordance with Netia’s Polish prospectus, dated April 17, 2002, as amended.
III. Outstanding Warrants. As a result, the following warrants were traded on the WSE as of August 2, 2003: (a) 32,327,521 two-year subscription warrants were traded on the WSE under the ticker “NETPPO2, entitling their holders to subscribe for Netia’s series J shares by April 29, 2005; and (b) 32,353,364 three-year subscription warrants were traded on the WSE under the ticker “NETPPO3, entitling their holders to subscribe for Netia’s series J shares by April 29, 2006.
IV. Updated Information on Netia’s Share Capital. Current information on Netia’s share capital increases is constantly updated and available at the Polish National Depositary for Securities and the WSE as well as on Netia’s website (www.investor.netia.pl). The share capital registered currently by the Polish court reflects the status as of July 1, 2003, and will be amended following the consideration of a motion filed with the court on August 8, 2003. Share capital increases in connection with the exercise of Netia’s outstanding warrants will be announced both in Poland and in the U.S. in the form of a press release once a month by the 8th day of each month, and each time in the event of an exercise of warrants constituting 5% or more of all warrants issued by the Company.
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 Netia's filings with the Securities and Exchange Commission, including its Annual Report on Form 20-F filed with the Commission on June 27, 2003 and its Current Report on Form 6-K filed with the Commission on June 30, 2003. Netia undertakes no obligation to publicly update or revise any forward-looking statements.