Netia's Nasdaq interim ADR facility to be merged into Netia Nasdaq permanent ADR facility
WARSAW, Poland - July 14, 2000 - Netia Holdings SA (Nasdaq: NTIA), Poland's largest alternative fixed-line telecommunications services provider, announced that effective Monday, July 17, 2000, its interim ADR facility maintained on the Nasdaq Stock Exchange since June 2, 2000 under the symbol "NTIAY" will be merged into its regular ADR facility trading under the symbol "NTIA."
Netia established its regular Level III sponsored ADR facility on July 29, 1999 upon the completion of its initial public offering in the United States. On June 2, 2000, Netia issued 1,125,000 American Depositary Shares, which have been trading on Nasdaq on an interim basis under a separate symbol, CUSIP number, ACTION number and ISIN number, pending (i) registration of the underlying ordinary shares of the Company, nominal value PLN 6.00 per share (the "New Shares"), by the Commercial Court in Warsaw, Poland, (ii) registration of the New Shares with the National Depositary of Securities in Poland and (iii) deposit of the New Shares with The Bank of New York as depositary (the "Depositary") for Netia's ADR facility.
The New Shares were registered on June 15, 2000, and were deposited with the Depositary on July 11, 2000. Accordingly, on July 13, 2000, Netia and the Depositary requested that the Nasdaq National Market System merge Netia's interim ADR facility with the permanent ADR facility. As a result, on Monday, July 17, 2000, all Netia's ADRs will commence trading under the symbol "NTIA," CUSIP number 64114B104, ACTION # 7847/1001 and ISIN number US64114B1044. Following the merger, the interim Level III ADR program (symbol "NTIAY," CUSIP number 64114B203, ACTION number 7847/1003 and ISIN number US64114B2034) will be discontinued and the symbols deactivated.