OTP head Csanyi rearranges holdings in bank, does not plan to sellshares

Published: 2 June 2005 y., Thursday

OTP  Bank chairman and CEO
Sandor Csanyi  announced  Wednesday  afternoon  that  he  was behind the morning's giant stock exchange transaction that involved 2.12 million of the bank's shares.
     Csanyi  said  that he sold the shares - which he owned directly and which changed  hands at HUF 6380 apiece, for a total of HUF 13.5 billion
(USD 65.5  million)  - to Bonitas 2002 Kft. The company is owned 100% by Csanyi and handles the bank mogul's investments.
     "Thus the number of OTP Bank shares held directly and indirectly by me have not changed. I don't plan to reduce my aggregate holdings in the bank in the future either," Csanyi said.
     Csanyi explained the move with "economic rationalism," with Bonitas now owning  the shares allowing the firm to operate more efficiently. In related  news,  Wednesday was also the last day to acquire OTP shares in order to  be eligible for the HUF 146 gross dividend payment, to be made
starting June 13.
     Thanks  to  Csanyi's transaction, OTP traded in huge volumes on the stock exchange  Wednesday,  closing  1.25% higher at 6501 on turnover of
HUF 24.44 billion.

Šaltinis: INTERFAX-
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

European Globalisation Fund set to help workers in clothing industries in Spain

The European Commission approved an application from Spain for assistance from the EU Globalisation Adjustment Fund (EGF). more »

European Commission calls for saving time and money in cross-border legal disputes through mediation

The European Commission today reiterated the potential of existing EU-rules on mediation in cross-border legal disputes, reminding Member States that these measures can only be effective if put in place by Member States at national level. more »

New opportunities for export of animal products to Russia as certificates enter into force

Exports of animals and animal products from the European Union to Russia are expected to receive a boost after five new certificates for exports between the EU and the Russian Federation entered into force on August 15. more »

World Bank President Zoellick Completes Two-Day Visit To Moldova

World Bank Group President Robert B. Zoellick visited Moldova on August 11-12 at the invitation of Prime Minister Vlad Filat. more »

Profit of the first half of 2010 before loan impairment charges of Danske Bank A/S Lithuania branch is 28m LTL

These are the financial results of the banking activities of the Danske Bank Group in Lithuania (Danske Bankas and Danske Lizingas UAB). more »

First European Investment Bank loan to Armenia for Yerevan metro upgrade

The European Investment Bank (EIB) today signed its first loan agreement with Armenia. more »

Commission releases €14.9 million for food security to the Republic of Niger

Given the worsening food crisis in the Sahel, the Commission today agreed to disburse €14.9 million for food security in Niger, the worst affected country in the area. more »

Commission approves the acquisition of joint control of Arnotts by Anglo Irish Bank and RBS

The European Commission has cleared under the EU Merger Regulation the proposed restructuring of Arnotts' debts in return for a transfer of control to Anglo Irish Bank and Royal Bank of Scotland (RBS). more »

European Commission approves €135 million in grants to Morocco for 2010

The European Commission today approved a new financial support package of €135 million for Morocco. more »

The Commission allocates an additional €10 million package in humanitarian aid for Liberia

The European Commission is allocating an extra €10 million in humanitarian aid for Liberia. more »