Share Buy-Back Program between 18 January and 23 January 2013; Completion of the third tranche of share buy-backs (4/2013)
The Company was conducting the buy-back of its own shares in the course of the third tranche of share buy-backs announced by the Company on 12 October 2012 (see current report No. 93/2012 dated 12 October 2012) for the purpose of the redemption of such shares (the “Program”).
Since the date on which the Company commenced acquisitions of shares in the course of the Program, i.e. 12 October 2012, the Company has acquired a total of 9,657,023 of its own shares for a total amount of PLN 47,531,716.01 and an average share price of PLN 4.92. The own shares acquired by the Company since the commencement of the Program carry a total of 9,657,023 votes at the general meeting of the shareholders, and represent 2.5% of the Company’s share capital, and a 2.5% share in the total number of the votes at the general meeting of the shareholders, thereby the Program’s target has been fulfilled.
Due to the repurchase of all shares intended to be acquired by the Company over the course of the Program, the Company informs herewith of the Program’s completion.
The above mentioned Program had been executed under the authorisation to repurchase in total up to 12.5% of Netia’s own shares, granted by resolution No. 18 of the Company’s shareholders meeting held on June 2, 2011 (see Netia’s current report No. 28/2011 dated June 2, 2011). Under the above authorization and including the Program completed yesterday as described above, Netia has now executed three share buy-back tranches, acquiring in total 32,132,500 shares, which represent 8.3% of the Company’s share capital, and an 8.3% share in the total number of the votes at the general meeting of the shareholders, for a total amount of PLN 172.044.661,33 (see Netia’s current reports No. 60/2011 dated November 9, 2011 and No. 93/2012 dated October 12, 2012 and today's report). From this total of 32,132,500 shares acquired under all three tranches of share buy-backs, 9,775,000 shares were redeemed by the Company's Extraordinary Shareholder Meeting on December 15, 2011 (see Netia’s current report No. 74/2011 dated December 15, 2011) and the remaining 22,357,500 shares currently held as Treasury Shares by the Company shall be redeemed in due course at the meeting of the Company's Shareholders.
In accordance with the above mentioned shareholders resolution of June 2, 2011, Netia’s Management is able to propose further buy-back programs for up to 4.2% of the Company’s share capital for realization prior to June 2, 2013. No decisions to commence further programs have been taken as of today and any such decision would require the approval of Netia's Supervisory Board.
Legal Basis: Art. 4 section 4 Commission Regulation (EC) No. 2273/2003 of 22 December 2003 implementing Directive 2003/6/EC of the European Parliament and of the Council as regards exemptions for buy-back programs and stabilization of financial instruments (OJ L 336 of 23 December 2003).