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News  
ATM becomes an important player on the merger and acquisition market!
23.11.2006

The Extraordinary General Meeting of ATM S.A. (a public company listed on Warsaw Stock Exchange) shareholders on November 22, 2006 resulted in change of the company's statute.

The Extraordinary General Meeting of ATM S.A. (a public company listed on Warsaw Stock Exchange) shareholders on November 22, 2006 resulted in change of the company’s statute. It empowered the management board to increase the initial capital no more than PLN 18.4 million within the so-called authorized capital. This means a consent to emit shares in tranches approved by the Supervisory Board, to the amount of nearly PLN 400 million, considering the closing share price from 22.11.2006, which was PLN 161. A part of capital gained will serve investments in company’s IT infrastructure for the sales of new services (approx. PLN 50 million in 2007) and the rest — approximately PLN 350 million — may be used for acquisition of IT and telecommunication companies. Detailed investment plans shall be precised individually before applying for another company capital increase tranche.

“This is important news for present and future shareholders” — said Tadeusz Czichon, president of ATM S.A. “We are conducting initial talks with several entities which are of interest to us. The topic however needs utmost care and attention, since we are looking for unique competence which would allow for a significant increase of ATM’s value and the ultimate synergy effect. Thanks to the decision of the Extraordinary General Meeting, the management board received a confidence vote on these actions and ability to implement this ambitious plan”.



 
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