Satisfaction of the conditions precedent of a material agreement (15/2008)
WARSAW, Poland – 13 March 2008 – Netia SA (“Netia”), Poland’s largest alternative provider of fixed-line telecommunications services, announced today with reference to its current report No. 11/2008 dated 22 February 2008 that it has waived all the conditions precedent regarding the agreement for the sale of a 23.4% interest in P4 Sp. z o.o. (the ”Agreement” , “P4”). As a result of satisfaction of all the conditions precedent the payment of the purchase price and the closing of the transaction will be on 30 April 2008.
Notwithstanding such waiver Novator and Tolleron are to use their best efforts to cause the satisfaction of the conditions precedent listed in the current report No. 11/2008 at an earliest practicable date. Furthermore as long as Netia and Netia Spółka Akcyjna UMTS S.K.A. have not received a confirmation of full discharge from all obligations arising out of CDB Facility Agreement and agreements securing repayment, Novator and Tollerton have indemnified Netia and Netia Spółka Akcyjna UMTS S.K.A. against all possible losses suffered in connection with CDB Facility Agreement and agreements securing repayment.
Legal basis: §5 section 1.4 of the Regulation of the Minister of Finance on the Current and Periodic Disclosures to be Made by Issuers of Securities dated 19 October 2005 (Journal of Laws of 2005, No. 209, item 1744).