Shareholders will vote on the proposal at Gedeon Richter Nyrt‘s annual general meeting scheduled for April 25, the Budapest-based company said in a statement to the Budapest Stock Exchange today. Richter, based in Budapest, saw 2006 consolidated profit jump 15% to Ft 52.1 billion as a weak Hungarian forint made exports more attractive. New taxes and subsidy cuts in Richter’s main market, Hungary, may dent 2007 profit by as much as Ft 7 billion, Chief Executive Officer Erik Bogsch said in November. Richter shares rose 150 forint, or .4%, to Ft 36,000 at 9 a.m. in Budapest, immediately after trading began on the Budapest Stock Exchange.
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