"Magyar Telekom, Hungary's leading telecom service provider, has announced on Friday that its Extraordinary General Meeting has made a decision about the fusion of the access business line split off from T-Online Hungary Co. Ltd. and Magyar Telecom Plc., and the merger of Emitel Co. Ltd. with Magyar Telekom.The EGM has also made a decision to pay HUF 366 for each ordinary share to the persons who do not wish to participate as shareholders in the successor company.
Based on the valid statements made by the shareholders the number of persons who do not wish to participate in Magyar Telekom the successor company is two persons holding 22,700 shares.
The share capital of Magyar Telekom Plc. changes to HUF 104,274,561,500.
The EGM has on the separation of the access business line from T-Online Hungary Co. Ltd. and merger into Magyar Telekom Plc. and the merger of Emitel Co. Ltd. with Magyar Telekom. The change becomes effective with registration by the Court of Registry, the planned date of which is 30 September, 2007. The
The EGM has noted that the Board members and Supervisory Board members of Emitel Co. Ltd. resigned from their positions. With the exception of Dr. Klaus Hartmann, who, due to his increased responsibilities, resigned his Board membership as of 19 June, 2007, the Board members and Supervisory Board members of Magyar Telekom Plc. hold their positions in the successor company with unchanged conditions and unchanged remuneration.
The EGM has also adopted amendments to the Articles of Association of Magyar Telekom Plc. The primary reasons for the amendments are the now approved merger, and compliance with the regulation on termination of the priority voting share (golden share) granted to the Hungarian state.
Through this latter amendment, the EGM of MTel has converted the one registered priority “B" series voting share (golden share) with a face value of HUF 10,000 to 100 dematerialized ordinary “A" series shares with a face value of HUF 100 each and terminated the priority rights associated with the golden share."
Source:
Portfolio Online Financial Journal
02.07.2007