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NABI shareholder proposes recall of boards

Tamás Korányi, a private investor exercising control over 10% of bus maker NABI's shares, has proposed recalling the company's boards and voting on board member fees at an extraordinary shareholders' meeting to convene on July 18, the modified agenda for the meeting published on the website of the Budapest Stock Exchange (BÉT) shows.

Before Korányi's proposal, the EGM was to have voted on appointments to the boards. Korányi has also proposed authorizing the board to purchase treasury shares up to 10% of registered capital at a price of between 50% and 112% of nominal value. The agenda for the meeting will again include a motion to liquidate the company. At a shareholders' meeting on April 27, shareholders narrowly rejected the motion. Earlier items remaining on the agenda include a motion to raise capital Ft 1.028 billion and authorize the board to acquire some parts of auto parts businesses.