Are you sure?

Troubled Vértesi Power Plant calls EGM

The troubled Vértesi Power Plant on Wednesday called an extraordinary shareholders meeting for May 18.

The EGM invitation did not reveal the agenda of the meeting, but MTI learnt from sources close to the company that the board will report on the company's financial position and its assets. Shareholders will then take a decision on whether to lower capital or go under voluntary or mandatory liquidation.

Daily Népszava reported on Wednesday that Vértesi's five-member board had resigned as they did not wish to be part of the liquidation of the plant, which employs 1,300 people.

Vértesi Power Plant is majority-owned by the state-owned Hungarian Electricity Works (MVM). (MTI-ECONEWS)