BorsodChem EGM approves withdrawal of shares linked to incentive program
The 3,173,025 employee shares with a nominal value of Ft 202 apiece account for half of a packet of shares issued for the incentive program under a decision at an EGM in September 2004. The program offered BorsodChem employees a special bonus linked to half of the shares if the company's new MDI plant was completed by April 30, 2006, and another bonus linked to the other half of the shares if the new plant is operated at 82% capacity in two quarters in a row by April 30, 2007. The new MDI plant started commercial operation at the end of November 2005. The EGM also approved amendments to the company's articles of incorporation. The changes were required to bring the articles in line with the Company Act. (Mti-Eco)
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.