The Budapest Stock Exchange (BSE) has suspended trade in shares of Est Media Holding for six sessions beginning on June 21 and ending on June 28 in order to facilitate the company's ten-to-one reverse share-split pursuant to a decision taken at Est Media's annual general meeting on February 28, 2011.
As a result of the reverse split, the shares of Est Media, formerly known as econet.hu, will become dematerialized Est Media shares with face value of HUF 1,000, replacing dematerialized econet.hu shares with face value of HUF 100.
The number of Est Media shares traded at BSE will fall to 6,851,000 from 68,510,000 following the split. The base price for the shares will be calculated on June 24 through by multiplying their Monday closing price by ten. BSE trade in Est Media futures products will be suspended during the period as well.
Est Media, which is an A-category issuer at the BSE, closed Monday trade at HUF 26.