ADVERTISEMENT

Shareholder contests OTP AGM decisions at court

Telco

Photo by Jessica Fejos

OTP Bank said that one of its shareholders contested at a Budapest court several decisions from the bank’s AGM, held on April 15 of this year, Hungarian news agency MTI reported yesterday.

(Photo: Jessica Fejos)

The bank said that the shareholders asked the court to repeal as well as suspend the execution of the AGM decisions regarding the bankʼs annual Hungarian-standard unconsolidated report and the IFRS consolidated report, the decision on the after-tax profit, as well as a decision mandating the board to purchase the bankʼs own shares.

Though the court rejected the request for the suspension of the AGM resolutions, it will discuss the content of the filing, the bank said.

On April 15, the shareholdersʼ meeting approved the boardʼs proposal to pay a HUF 46.2 bln dividend - about HUF 165 per share - on the year 2015. OTP Bank had unconsolidated after-tax losses of HUF 98.1 bln and consolidated profit of HUF 63.2 bln last year.

ADVERTISEMENT

Hungary's GDP growth hits 8.2% y.o.y. in Q1 Analysis

Hungary's GDP growth hits 8.2% y.o.y. in Q1

Parl't elects Orbán prime minister Parliament

Parl't elects Orbán prime minister

New managing director at LG Electronics Hungary Appointments

New managing director at LG Electronics Hungary

Hungary Grande Partenza 'exceeded all expectations' - gov't ... City

Hungary Grande Partenza 'exceeded all expectations' - gov't ...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.