Graphisoft Park Aims for Feb 15 Date to Modify Share Currency

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Graphisoft Park will request that its shares trade in euros, instead of forints, from February 15, 2023, the business park operator said on Friday, according to a report by state news wire MTI.

Graphisoft Park said it has submitted an application to the Budapest Stock Exchange on the modification of the currency of the listing of its shares. It had planned to make the switch at the beginning of 2023, but pushed back the date after parties managing securities accounts said that the unprecedented changeover would require IT procedures that can't be completed before the end of the year, the company added.

Graphisoft Park shareholders mandated the board to take steps to switch the currency in which the company's shares trade from forints to euros, and to pay dividend in euros, at an extraordinary general meeting late in November.

The proposal for the measures had been made by a shareholder who argued that the company's revenue and costs are in euros, its accounting is in euros, and its guidance and dividend proposals are also in euros.

Graphisoft Park said on Friday that it will announce steps taken to pay dividend in euros at a later stage.

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