Netia increases its share capital
Warsaw, Poland January 11, 2000 ¿ Netia Holdings S.A. (Nasdaq: NTIA), the largest alternative fixed-line telecommunications operator in Poland, announced the approval by the General Assembly of Shareholders of the resolution introduced at its meeting held on December 30, 1999, to increase the Company¿s share capital from PLN 158,965,032 to PLN 165,715,032 through the issuance of 1,125,000 Series E ordinary bearer shares with a nominal value of PLN 6.00 per share.
Series E shares, which will be introduced to public trading, are divided into two tranches. Tranche I includes 425,000 shares and will be issued for use in the Company¿s stock option plan covering Netia¿s key personnel, board members and consultants. Tranche II consists of 700,000 shares and will be offered to investors by way of a public subscription, possibly in connection with the listing of Netia¿s stock on the Warsaw Stock Exchange, if and when such listing is achieved. Before these increases, Netia¿s currently has 26,494,172 common shares outstanding, in ADS form.
Netia¿s local telephone license territories cover five of the country¿s ten largest urban areas including Krakow, Poznan, Gdansk, Lublin, Katowice and several territories surrounding the city of Warsaw. Currently the company¿s digital access network serviced over 250,000 subscriber lines in operation, out of which 50,000 lines are servicing business customers.