FHB board starts buying treasury shares
Thursday, March 9, 2006, 09:05
The Land Credit and Mortgage Bank Rt (FHB) announced on Wednesday it will start purchasing its own series A ordinary shares on the Budapest Stock Exchange (BÉT). FHB can purchase up to 7% of its A shares, according to a resolution of last year's AGM. The purchase price of the shares must be between 75% and 125% of the average price of the shares in the month before the date of the purchase. The authorization to purchase the shares is valid until September 30, 2006. FHB held just 2,060 treasury shares at the end of 2005.
FHB also announced this year's AGM will take place on April 21. Items on the agenda will include changes to the articles of incorporation, such as the name of the bank, management appointments and authorization of the board for capital raise.