Yesterday's AGM in Netia replaced 4 members of the company’s Supervisory Board, introducing representatives of Novator Fund, which is holding a controlling stake in the company. We do not expect any changes to company’s BoD following that. The shareholders approved the dividend payment amounting to PLN 0.13 per share. The stock would go ex-dividend on May 16th. We do not expect any major impact from the news on today’s trading. We reiterate our Sell rating for the stock with PLN 4.8 fair value estimate.