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Appeninn shareholders approve merger

The merger will add about 100,000 sqm of office space to Appeninn's portfolio, the company said earlier.

The shareholder resolutions show the merger will raise Appeninn's share capital to HUF 3.0 billion from HUF 2.8 billion.

Shareholders mandated the board to buy treasury shares up to 20% of share capital over 18 months.

The 2010 annual report approved by shareholders shows retained earnings of HUF 67m and total assets of HUF 3.54 billion.

Shareholders approved a proposal to pay no dividend on 2010 profits.