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Telekomunikacja Pol. (OPLD)

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Wednesday 10 March, 2004

Telekomunikacja Pol.

Current report 32/2004

Telekomunikacja Polska S.A.
10 March 2004


LSE - Current Report (32/2004)

Telekomunikacja Polska S.A. (TPSA) - Warsaw, Poland

10 March 2004

Pursuant to art. 5, clause 1 of the Decree of the Council of Ministers of 16
October 2001 on current and periodic information disclosed by issuers of
securities (Journal of Laws of 2001 no. 139, item 1569, as amended) the
Management Board of Telekomunikacja Polska S.A. ('TP S.A.') announces that on 9
March 2004 it received information about pledging of assets of significant
value.

On 5 March 2004, TP Internet Sp. z o.o. ('TPI') and TP EmiTel Sp. z o.o. ('TP
EmiTel') concluded an agreement pursuant to which TPI established a registered
pledge ('the Pledge') on its shares in Warsaw-based Parkiet Media S.A. ('the
Company') in order to secure TP EmiTel's claims under the loan agreement between
TP EmiTel and TPI dated 6 January 2004.

The Pledge was established on all the Company's shares held by TPI, that is
7,275,497 ordinary registered shares of nominal value of PLN 1 each. The
liability secured by the Pledge amounts to PLN 63,000,000. The shares pledged
constitute 99.45% interest in the share capital of the Company, which
corresponds to 99.45% of the total number of votes at the General Meeting of
Shareholders (which makes the assets meet the criterion of significant value).

The contract of pledge is an agreement between entities related to TP S.A., as
TP S.A. is a shareholder of TP EmiTel and TPI, and holds 100% interest in the
share capital of both companies, which corresponds to 100% of the total number
of votes at the General Meeting of Shareholders of TP EmiTel and TPI.



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