Netia acquires shares in its subsidiary (6/2009)
The management Board of Netia SA (the “Company” or “Netia”) informs, that on February 5th, 2009 Netia received information about the registration on January 30th, 2009 in National Court register its subsidiary, Netia UMTS Sp. z o.o. (“Netia UMTS”), with its seat in Warsaw, under KRS number 0000322286.
Netia acquired 100 Netia UMTS’ shares (with a par value of PLN 50 per share) constituting 100% of Netia UMTS’ share capital and giving Netia 100% of the voting power at Netia UMTS’ general meeting of shareholders. Netia financed the transaction from its own capital. The book value of Netia UMTS in Netia’s accounts amounts to PLN 5,000. The acquisition will be treated as a long-term investment.
The shares were classified as material assets, as they represent 100% of the share capital of Netia UMTS. Netia UMTS was established in order to participate in the planned project of merging Netia with its subsidiary Netia Spółka Akcyjna UMTS Spółka Komandytowo Akcyjna.