Graphisoft Park EGM Clears Shares to Trade in Euros

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Image by graphisoftpark.com

Shareholders of Graphisoft Park, which owns and operates an eponymous business park in the north of the capital, mandated the board to take measures allowing the company's shares to trade in euros, instead of forints, at an extraordinary general meeting this week, according to the EGM resolutions posted on the website of the Budapest Stock Exchange. 

The resolution approved by shareholders also allows the payment of dividends in euros. 

Graphisoft Park's board announced the proposal, originating from 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, a month earlier. 

The board noted at the time that the company's charter, as well as BSE rules, allow for the possibility of changing the currency in which the shares trade to euros. 

The proposal put to shareholders was drafted after consultations with the bourse.

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