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Opus shareholders to vote on bond issue, board expansion

Initiatives

The board of listed holding company Opus Global will ask shareholders for a mandate to issue HUF 28.6 billion of bonds in the framework of the National Bank of Hungaryʼs Bond Funding for Growth Scheme (BGS) at an EGM on October 4, the agenda for the meeting shows, state news wire MTI reports.

The board said the issue of bonds, as an alternative to bank financing, would offer the benefits of using the proceeds independent of credit purpose and with more flexible conditions, while preserving Opusʼs ownership structure and autonomy.

Also on the EGM agenda is a proposal to expand Opusʼs board with two new members: Ádám Balog, the CEO of MKB Bank and a former central bank deputy governor; and Zsigmond Járai, the chairman of the supervisory board of CIG Pannónia Life Insurance and a former finance minister and central bank governor.

The EGM will also vote on a proposal mandating the purchase of treasury shares up to 5% of share capital.

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