Press Releases

Budapest, July 31, 2007 15:00

Magyar Telekom’s Montenegrin subsidiary Crnogorski Telekom has held its General Meeting today in Podgorica. The General Meeting approved the audited annual report on the 2006 business operations of the company, and made a decision on dividend payment in a total amount of EUR 8.3 million for the 2006 financial year (equaling around HUF 2.1 billion using HUF/EUR rate of 252 as of July 30, 2007).

According to Montenegrin Accounting Standards, Crnogorski Telekom on a standalone basis recorded a net income of EUR 12.8 million in the financial year 2006. Magyar Telekom, which has a 76.53% stake in the company, is entitled to a dividend payment of approximately EUR 6.4 million (HUF 1.6 billion).

The General Meeting accepted the resignation of Mr. Bence Makai, Mr. Zoltán Kovács and Mr. Zoltán Pinkola from the Board of Directors and elected Mr. Dániel Szász, Mr. János Szabó and Mr. Dénes Szluha as members of the Board of Directors with effect from July 31, 2007.