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Graphisoft AGM approves separation of software, real estate activities

Shareholders at Graphisoft Rt's annual general meeting on April 28 approved the board's proposals to separate its software development activities from its real estate activities, and to pay no dividend on 2005's after-tax profits of €1.486 billion, the company said in a stock exchange statement. Graphisoft did not pay a dividend on 2004's profits either.

Graphisoft's biggest owner Gábor Bojár told business daily Napi Gazdaság that the company expects revenue from its new product Virtual Construction to increase 200% compared to €1.7million in 2005. The company targets an overall revenue increase of 20% in 2006.
Graphisoft announced at the end of March it plans to put its real estate activities into a separate company and offer its shareholders shares in the new company, which it will then list on the stock exchange. The board proposed putting 48% of Graphisoft's net assets, or €21.3 million, into Graphisoft Park Rt, a property development company which would operate the company's business and research park of the same name. The remaining net assets of €23.2 million will remain with Graphisoft, which will continue to carry out software development activities under the plan.