Press Releases

Budapest, July 31, 2007 14:00

Magyar Telekom’s Macedonian subsidiary Makedonski Telekomunikacii (MakTel) has held its General Meeting today in Skopje. The General Meeting approved the audited annual report on the 2005 business operations of the company, and made a decision on dividend payment in a total amount of MKD 7.4 billion for the 2005 financial year (equaling around HUF 30.4 billion using HUF/MKD rate of 4.11 as of July 30, 2007).

According to Macedonian Accounting Standards, MakTel on a standalone basis recorded a net income of MKD 4.3 billion for the year 2005 resulting in retained earnings of MKD 7.1 billion and reserves of MKD 2.6 billion on the company’s balance sheet available for dividend payment. Stonebridge, which is 100% owned by Magyar Telekom, is entitled to a dividend payment of approximately MKD 4.2 billion (HUF 17.3 billion).

The General Meeting released Mr. Attila Szendrei, MakTel’s Chief Executive Officer from his Board of Directors membership with effect from September 10, 2007, and elected Mr. János Szabó and Mr. Nikolai Beckers as members of the Board of Directors with effect from July 31, 2007 and September 10, 2007, respectively.