Pegas held AGM on Friday, June 15. Shareholders approved, among other things, financial statements of 2006. AGM also approved bonuses for management and 230,735 phantom options with strike price of CZK 749.2. No dividends were approved. Our view: As expected no dividend from 2006 financial results were approved. The management will consider dividends in following years. We do not see any material impact for today’s trading.