Press Releases

Budapest, April 2, 2009 15:30

Magyar Telekom Plc. held its ordinary Annual General Meeting on April 2, 2009. The General Meeting accepted the audited annual reports on the business operations of the Magyar Telekom Group and Magyar Telekom Plc. in 2008, approved the Board of Directors' corporate governance report for 2008 and made a decision on the amount of dividend to be paid on the 2008 profit. The shareholders elected new Board of Directors members and Supervisory Board members, approved amendments to the Company's Articles of Association and elected an auditor.

The shareholders heard the Board of Directors' report on the executive management, Magyar Telekom Group's business policy and financial position and the business operations of the Magyar Telekom Group and Magyar Telekom Plc. in 2008. Reports by the Supervisory Board and the Auditor were also presented.

The General Meeting approved the Magyar Telekom Group's 2008 consolidated annual report prepared according to International Financial Reporting Standards (IFRS) with HUF 1,168,856 million balance sheet total and HUF 105,593 million profit after tax (before deduction of HUF 12,585 million profit generated by portfolio companies with minority Magyar Telekom share). The shareholders also approved Magyar Telekom Plc.'s 2008 annual report prepared according to Hungarian Accounting Rules (HAR).

The General Meeting reviewed and approved the 2008 corporate governance report prepared by Magyar Telekom Plc.'s Board of Directors. The shareholders - having evaluated the work done by the Company's Board of Directors members - decided to give the relief from liability for 2008 to the members. The General Meeting decided to pay HUF 74 dividend on ordinary shares of HUF 100 face value from the 2008 profit. The Company will put the HUF 21,573,345,870, that remains after deduction of the total dividend payment of HUF 77,051,913,476, in profit reserve. The dividend payment will start on May 7, 2009. On April 15, 2009 the Company will publish detailed information about the order of dividend payment.

The shareholders elected Messrs. Guido Kerkhoff, Dr. Steffen Roehn, Wolfgang Hetlinger and Ms. Mechthilde Maier members of the Board of Directors, and employees' representative Ms. Éva Őz and Mr. Martin Meffert members of the Supervisory Board. Assignment of the officials will expire on May 31, 2010.

The General Meeting approved Magyar Telekom's remuneration principles and amendments to the Company's Articles of Association. The General Meeting elected PricewaterhouseCoopers Kft. the Company's Auditor for performance of auditing tasks concerning year 2009, i.e. for the period ending May 31, 2010 or the date when the ordinary Annual General Meeting closing the business year 2009 will be held.