In an order dated August 18, the Court of Registration dismissed the application for a judicial supervisory proceeding, related to the registration into the companies' register in early August the amendments of Magyar Telekom corporate data resulting from shareholders’ resolutions of the 2010 general meeting, Magyar Telekom said on Thursday.
The dismissal, which was requested by Magyar Telekom, may be appealed.
At the AGM on April 7, 2010, decisions were again taken on the proposals submitted at the 2008 AGM, closing the year 2007, because they had been invalidated by the court as a consequence of proceedings initiated by small shareholders. Two small shareholders initiated proceedings against the company in May 2008, claiming that decisions including one on dividend payment were taken unlawfully at the 2008 AGM.
Small shareholders initiated, however, new lawsuits, requesting the annulation of several related resolutions taken by the April 2010 AGM and the entering of the respective amendments into the company register.
The statement notes that there are still pending lawsuits on decisions taken at AGMs in June 2009 as well as in April 2010 and the company cannot fully exclude that it will be required to take other corporate actions in connection with the lawsuits. (MTI-ECONEWS)