PannErgy shareholders vote down share withdrawal, stick by board member

In Hungary

PannErgy shareholders voted to reject proposals to recall a member of the board and to withdraw treasury shares at the alternative energy company’s extraordinary general meeting yesterday, according to Hungarian news agency MTI.

Published in a meeting agenda last week, the proposal asked for the retraction of 1,854,656 shares, for a new total of 19,199,999 shares, and the removal of István Töröcskei from the board of directors, “in view of his role as an owner and senior officer at companies that have been liquidated in recent years.” 

Töröcskei is the former owner of Széchenyi Commercial Bank, which closed in 2014, and also acted as head of the Government Debt Management Agency (ÁKK). Shareholders voted 58.1% against the share withdrawal and 86.2% against the removal of Töröcskei, according to MTI.

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