The Budapest Stock Exchange Pte. Ltd. (BSE) held its Annual General Meeting (AGM) on 29 April, 2011.

At this event, the shareholders approved the Financial Statement for the year 2010, as well as the Report of the Supervisory Board and the Report of the independent Auditor. According to the Financial Statement, the BSE’s EBITDA in 2010 was HUF 1.8 billion and the profit after tax amounted to HUF 1.3 billion.

The general meeting made the decision that 98.4% of the company’s profit for 2010 shall be distributed among the shareholders. Dividend per share is HUF 240. 

The mandate of the members of the Board of Directors and of the Supervisory Board expired in 2011. Accordingly, the general meeting passed a motion to select members. The general meeting elected the Company’s Board of Directors for another three years.

After the general meeting, according to the decision of the Board of Directors, Dr. Mihály Patai was elected the Chairman of the Board of Directors and MMag Dr. Michael Buhl was elected as Vice Chairman for another three years.

Members of the Supervisory Board will elect the new chairman on their next meeting.

On the basis of the decision of investors associations, the person representing investors interests will be Péter Schuszter, President and CEO of Generali Asset Management Ltd.

Based on the items of the agenda, the shareholders passed a motion to accept the strategic principles for the Budapest Stock Exchange for 2011-2015, whereby the BSE, utilising the synergy of the CEESEG group, sets medium-term objectives to develop the local capital market and increase its liquidity. In order to achieve the goals, a five-element strategy was established which includes joining the common trading platform of CEESEG and thus expanding the circle of traders, broadening the base of issuers, increasing the efficiency of data vending and strengthening the domestic investor base.