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Rahimkulov family raises indirect stake in BorsodChem to 5.57%

Firthlion, a UK-registered company owned by Megdet Rahimkulov, the head of Hungary's Általános Értékforgalmi Bank (ÁÉB), said on Tuesday it had raised its voting rights in chemicals company BorsodChem to 5.11%. The transaction boosts the direct and indirect voting rights in BorsodChem held by Rahimkulov and his family to 5.57%. Firthlion said it purchased 408,000 BorsodChem shares on September 16, boosting its holding to 4,155,596 shares. Including other direct and indirect holdings, the Rahimkulov family owns a total of 4,525,435,598 BorsodChem shares.
Rahimkulov and his family hold close to 75% of AEB through
Kafijat and a further 15.09% of telecom Antenna Hungaria through
Firthlion. BorsodChem had net income of Ft 8.38 bln on sales of Ft 86.73 bln in the first half of 2005, according to preliminary IFRS
consolidated report. Consolidated net assets stood at Ft 132.6 bln at the end of June 2005. BorsodChem's other owners include VCP Industrie Beteiligungen (21.52 %), HSBC Bank (7.72 %) and FTIF Templeton Eastern Europe Fund (5.2 %).