Ceske radiokomunikace holds an EGM today (3 p.m. CET), initiated by Netla Management Limited, a minority shareholder. The agenda includes a number of restructuring proposals (reducing registered shareholder capital, giving shareholders stock of a Cayman Islands-based company, transferring and selling assets, etc.). However, given that the minority shareholder apparently does not seem to have the support of the company’s board nor the controlling shareholder (Bivideon), the proposals are unlikely to be approved. In this sense, we consider the EGM interesting only because Netla will attempt to question Ceske radiokomunikace’s management about planned company restructuring.
According to the Czech Press Agency, the SEC will seek to suspend trading in Ceske radiokomunikace shares today at 3 p.m. CET (as the EGM starts), and the trading might be suspended through Tuesday.
(Ondrej Datka)